Location: St. Francis County, AR | Metro: St. Francis County, AR
| Unit Size | Monthly FMR |
|---|---|
| Studio | $680 |
| 1 Bedroom | $730 |
| 2 Bedrooms | $960 |
| 3 Bedrooms | $1,180 |
| 4 Bedrooms | $1,320 |
| 5 Bedrooms | $1,531 |
| 6 Bedrooms | $1,715 |
| 7 Bedrooms | $1,852 |
| 8 Bedrooms | $1,945 |
U.S. Census Bureau data (2024)
The ZIP code 72340 presents a unique challenge for landlords and small-portfolio investors interested in Section 8 tenants. With a population of 43,000, the area is not heavily populated with renters; in fact, the data indicates that 0.0% of residents are renters, which suggests a predominantly homeowner-dominated community. This implies that there is likely a scarcity of Section 8 vouchers being utilized in the rental market within this ZIP.
The median household income in ZIP 72340 stands at a robust $112,750. However, without specific market rent data, it's difficult to calculate precisely what percentage of local income goes towards rent. Nonetheless, given the high median income and the low percentage of renters, it's reasonable to infer that the typical rent in this area is relatively high, possibly outpacing the financial capabilities of many Section 8 recipients.
Comparing the local median income to the Fair Market Rent (FMR) of $880, as set for FY 2026 in the metro area, we can see that the FMR represents only a small fraction of the average income. This means that for those who do rent, the cost of housing is significantly lower relative to their income, but it also highlights how the FMR might not be reflective of the actual rental market in ZIP 72340.
A landlord in ZIP 72340 should expect a tenant profile that is less reliant on Section 8 vouchers due to the scarcity of such tenants in the area. The ideal tenant would likely have a stable source of income, possibly above the median, and could afford higher rents. Given the homeowner-dominated nature of the ZIP, landlords might find themselves catering to a niche market of renters who are either transient, students, or individuals who prefer renting over homeownership despite the high costs.
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.