Location: Little Rock-North Little Rock-Conway, AR | Metro: Little Rock-North Little Rock-Conway, AR HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $930 |
| 1 Bedroom | $940 |
| 2 Bedrooms | $1,080 |
| 3 Bedrooms | $1,450 |
| 4 Bedrooms | $1,750 |
| 5 Bedrooms | $2,030 |
| 6 Bedrooms | $2,274 |
| 7 Bedrooms | $2,456 |
| 8 Bedrooms | $2,579 |
U.S. Census Bureau data (2024)
ZIP code 72181 is not a renter-heavy area with deep voucher demand. With only 0.0% of the population being renters, it is clear that this is predominantly a homeowner-dominated area. The scarcity of renters means that Section 8 vouchers are less prevalent, making it challenging for landlords to find tenants using these vouchers.
The median household income for ZIP 72181 is not available, which complicates a direct comparison between income levels and market rents. However, we can still assess the impact of the Fair Market Rent (FMR) on potential tenants. The FMR for this ZIP code is set at $1030 for FY 2024. This figure represents the maximum amount that landlords can charge tenants with vouchers.
In an area where the rental market is thin, the $1030 FMR plays a crucial role in determining the affordability of housing for low-income families. Given the lack of specific income data, it's important for landlords to understand that the typical rent will likely consume a significant portion of the local income, potentially above 30%, which is generally considered affordable.
The kind of tenant profile a landlord in ZIP 72181 should expect includes individuals and families who rely heavily on government assistance to meet their housing needs. These tenants will be sensitive to rent increases and may require additional support to maintain consistent payments. Landlords should also be prepared for a lower volume of potential Section 8 tenants due to the limited number of renters in the area.
Data Sources: FMR data from HUD (2027). Demographics from U.S. Census (2024).
About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.