Location: St. Francis County, AR | Metro: Memphis, TN-MS-AR HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $810 |
| 1 Bedroom | $880 |
| 2 Bedrooms | $1,000 |
| 3 Bedrooms | $1,290 |
| 4 Bedrooms | $1,490 |
| 5 Bedrooms | $1,728 |
| 6 Bedrooms | $1,935 |
| 7 Bedrooms | $2,090 |
| 8 Bedrooms | $2,195 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 72346 in fiscal year 2024 is set at $940. This figure represents the maximum amount that a landlord can charge for rent under the Section 8 program, which is designed to help low-income families afford housing. It's important to note that this is the payment standard, meaning it's the limit for the subsidy, not necessarily the amount you will receive as rent.
While the local median rent is listed as N/A, we can still gauge the potential demand for Section 8 rentals in the area. The renter share, which is the percentage of households that rent rather than own their homes, is 12.7%. This suggests that there is a significant number of renters in the area who could potentially benefit from the Section 8 program. If you're planning to offer your property as a Section 8 rental, you can expect a steady stream of qualified tenants who are looking for affordable housing options.
Regarding the acquisition cost, which is also listed as N/A, this typically refers to the price you would pay to acquire a similar property in the market. However, since we don't have this data, it's crucial to research the local real estate market to understand typical purchase prices and ensure your investment aligns with market values.
Before deciding to participate in the Section 8 program with your rental property in ZIP 72346, you must verify that your property meets the Housing Quality Standards (HQS). These standards ensure that the home is safe, decent, and sanitary for tenants. Failure to meet these standards can result in penalties or disqualification from the program. Once you confirm compliance with HQS, you can confidently proceed with listing your property under Section 8, knowing that you'll be providing a much-needed service to the community while receiving a stable income of up to $940 per month.
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.