Section 8 Fair Market Rent (FMR) for ZIP 72209 - 2027

Location: Little Rock-North Little Rock-Conway, AR | Metro: Little Rock-North Little Rock-Conway, AR HUD Metro FMR Area

Investment Score for ZIP 72209

Monthly Rent (2BR)

$1,050

Median Price (2BR)

$93,202

1% Rule

1.13%

Annual Yield

13.52%

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$900
1 Bedroom	$910
2 Bedrooms	$1,050
3 Bedrooms	$1,410
4 Bedrooms	$1,700
5 Bedrooms	$1,972
6 Bedrooms	$2,209
7 Bedrooms	$2,386
8 Bedrooms	$2,505

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
2BR	$1,050	$93,202	1.13%	B
3BR	$1,410	$119,194	1.18%	B
4BR	$1,700	$145,956	1.16%	B

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

31,607

Median Household Income

$40,231

Housing Units

13,574

Renter Percentage

61.5%

Occupancy Rate

88.9%

Renter Occupied

7,426

The ZIP code 72209 in Little Rock, Arkansas, represents a residential area with a mix of urban and suburban characteristics. It offers affordable housing options and is close to various amenities that cater to both residents and visitors. The real estate market here is influenced by the balance between renters and homeowners, making it a prime location for investment opportunities.

Fair Market Rent (FMR): The FMR for ZIP 72209 in fiscal year 2024 is set at $1030, indicating the rental price point that is considered fair for a two-bedroom apartment.
Market Rent: According to Zillow's ZORI (Zillow Observed Rental Index), the average market rent for properties in ZIP 72209 is $1,106, slightly above the FMR but reflective of current market conditions.
Median Home Value: The median home value in this ZIP code stands at $110,660, making it an attractive option for first-time buyers and investors looking for entry-level properties.
Renter Share: With 61.5% of households being renters, there is a significant demand for rental properties, suggesting that landlords can find a steady tenant pool.
Days on Market (DOM): Unfortunately, the data for the average days on market for listings in ZIP 72209 is not available, which could be crucial for understanding how quickly properties sell or rent.
Median Income: The median household income in ZIP 72209 is $40,231, which provides insight into the economic profile of potential tenants and buyers.

Investors in ZIP 72209 should consider the high renter share, which supports a robust rental market, alongside the relatively low median home values and FMRs. The slight premium of the ZORI over the FMR suggests a competitive rental environment, where landlords can potentially command higher rents. However, the median income figure indicates that tenants may have limited disposable income, necessitating a focus on affordability. Given these factors, investing in rental properties that offer good value for money is likely to yield positive returns 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.