Location: Little Rock-North Little Rock-Conway, AR | Metro: Little Rock-North Little Rock-Conway, AR HUD Metro FMR Area
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,010 |
| 1 Bedroom | $1,020 |
| 2 Bedrooms | $1,180 |
| 3 Bedrooms | $1,580 |
| 4 Bedrooms | $1,910 |
| 5 Bedrooms | $2,216 |
| 6 Bedrooms | $2,482 |
| 7 Bedrooms | $2,681 |
| 8 Bedrooms | $2,815 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,180 | $200,043 | 0.59% | F |
| 3BR | $1,580 | $192,004 | 0.82% | C |
| 4BR | $1,910 | $280,574 | 0.68% | D |
U.S. Census Bureau data (2024)
ZIP code 72202, located in Little Rock, AR, stands out due to its unique demographic and economic characteristics. With a population of 9,704 residents, this area has a significant rental market, with 75.7% of its residents renting their homes. The median income in ZIP 72202 is $50,899, which is relatively modest compared to the median home value of $153,144, indicating a substantial gap between income levels and housing costs.
The voucher economics in ZIP 72202 are particularly noteworthy. The Fair Market Rent (FMR) for the fiscal year 2024 is set at $1,100, which closely aligns with the market rent as measured by the ZORI (Zillow Rent Index), currently at $1,102. This parity suggests that landlords can expect stable rental income from tenants using Section 8 vouchers, without significant fluctuations from market rates.
The data signature for ZIP 72202 reads as stable. The high percentage of renters indicates a consistent demand for affordable housing, while the slight alignment between FMR and market rents ensures that Section 8 vouchers remain a viable option for tenants. Landlords and small-portfolio investors should take note of these factors when considering investments in this area.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.