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 | $990 |
| 1 Bedroom | $990 |
| 2 Bedrooms | $1,150 |
| 3 Bedrooms | $1,540 |
| 4 Bedrooms | $1,860 |
| 5 Bedrooms | $2,158 |
| 6 Bedrooms | $2,417 |
| 7 Bedrooms | $2,610 |
| 8 Bedrooms | $2,741 |
ZIP code 72221, located within the Little Rock-North Little Rock-Conway, AR HUD Metro FMR Area, has a Fair Market Rent (FMR) of $1110 for fiscal year 2024. This figure is key for understanding the rental dynamics in this area compared to other ZIP codes within the same metro region.
The absence of market rent and home value data for ZIP 72221 makes direct comparisons challenging, but we can still draw some conclusions based on the available information. The FMR of $1110 suggests that rental costs in this ZIP code are aligned with the federal guidelines for affordable housing. However, without specific market rent data, it's unclear if this ZIP code is above or below average compared to other areas in the Little Rock metro.
The lack of home value data means we cannot determine if 72221 is a value pocket or a premium sub-market relative to the broader metro area. Typically, a ZIP code with lower home values and higher renter share could indicate a value pocket, attractive to Section 8 tenants due to affordability. Conversely, higher home values might suggest a more affluent area, less likely to be a primary target for Section 8.
Despite the missing market rent and home value figures, the unknown percentage of renter share is another critical factor. A high renter share in an area with below-average home values often signals a prime location for Section 8 properties. If 72221 has a significant portion of renters, it could be a sweet spot for landlords looking to attract Section 8 tenants, given the alignment with the FMR.
To summarize, ZIP 72221 appears to have a competitive FMR within the Little Rock metro, but without comprehensive market rent and home value data, it's difficult to definitively classify it as a value pocket, mid-tier neighborhood, or premium sub-market. Landlords should consider the potential for a high renter share to make informed decisions about Section 8 investments in this area.
Data Sources: FMR data from HUD (2027).
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.