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 | $1,000 |
| 1 Bedroom | $1,000 |
| 2 Bedrooms | $1,160 |
| 3 Bedrooms | $1,560 |
| 4 Bedrooms | $1,870 |
| 5 Bedrooms | $2,169 |
| 6 Bedrooms | $2,429 |
| 7 Bedrooms | $2,623 |
| 8 Bedrooms | $2,754 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,160 | $184,932 | 0.63% | D |
| 3BR | $1,560 | $286,554 | 0.54% | F |
| 4BR | $1,870 | $448,773 | 0.42% | F |
| 5BR | $2,169 | $599,995 | 0.36% | F |
U.S. Census Bureau data (2024)
ZIP code 72212, located in Little Rock, AR, falls within the broader Little Rock-North Little Rock-Conway, AR HUD Metro FMR Area. To understand its position within this metro area, let's examine its key metrics: Fair Market Rent (FMR) of $1,250, market rent of $1,797, median home value of $380,299, and a renter share of 14.7%. These figures provide a snapshot of how 72212 compares to other ZIP codes in the same metro.
The FMR of $1,250 for ZIP 72212 is notably lower than the average market rent of $1,797, indicating that it offers more affordable rental options compared to the overall market. This makes it an attractive location for tenants who qualify for Section 8 housing assistance, which typically caps rents at or below the FMR level.
With a median home value of $380,299, ZIP 72212 is positioned slightly above the metro average, suggesting a middle-class residential area. However, the relatively low FMR and market rent figures contrast with this higher home value, hinting at a diverse economic landscape where rental units might be more affordable than homeownership.
The renter share of 14.7% is lower than the typical national average but aligns with trends observed in many suburban areas. This percentage indicates that a significant portion of residents are renters, making it a viable market for landlords. The combination of a moderate renter share and a lower FMR suggests that while it's not a high-density rental market, it still presents opportunities for those looking to invest in Section 8 properties.
Comparatively, ZIP 72212 appears to be a mid-tier neighborhood within the Little Rock-North Little Rock-Conway, AR HUD Metro FMR Area. It offers affordable rental options without being a premium sub-market, characterized by its balance between lower FMR and higher-than-average home values. This balance positions it as a stable investment opportunity for landlords and small-portfolio investors, particularly interested in Section 8 properties.
A notable divergence is the gap between the FMR and market rent. This suggests that landlords could potentially receive higher rents from non-subsidized tenants while still maintaining eligibility for Section 8 subsidies, creating a unique value proposition within the metro 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.