Location: Jackson County, AR | Metro: Cross County, AR
| Unit Size | Monthly FMR |
|---|---|
| Studio | $650 |
| 1 Bedroom | $690 |
| 2 Bedrooms | $910 |
| 3 Bedrooms | $1,260 |
| 4 Bedrooms | $1,520 |
| 5 Bedrooms | $1,763 |
| 6 Bedrooms | $1,975 |
| 7 Bedrooms | $2,133 |
| 8 Bedrooms | $2,240 |
U.S. Census Bureau data (2024)
The ZIP code 72347 presents a challenging rental market for households with a median income of $52,048. The market rate for rent stands at $750, which is already a significant portion of the average household's budget. However, the situation becomes even more strained when considering the Fair Market Rent (FMR) set at $880 for metro FY 2026. This represents the maximum amount that a Section 8 voucher holder can pay, leaving landlords with a choice between voucher tenants and those paying cash.
To put this into perspective, let's break down the numbers. A household earning the median income of $52,048 would spend approximately 17.8% of their gross income on the $750 market rate rent. This is calculated by taking $750, multiplying it by 12 months to get an annual figure, and then dividing by the median income. When the FMR of $880 is considered, this percentage increases to 22.6%. Both figures suggest that housing costs are a considerable expense for residents in this area.
Given that 42.2% of the 719 population are renters, the competition among landlords is likely to be fierce. Landlords must balance the reliability and security of receiving timely payments from voucher holders against the potentially higher rents from cash-paying tenants. The affordability gap means that many renters might lean towards the stability offered by Section 8 vouchers, which cover up to $880 per month, making them a valuable asset in securing a home.
For landlords, the takeaway is clear. While cash-paying tenants might offer slightly higher rents, the demand for affordable housing suggests that accepting Section 8 vouchers could be a strategic advantage. It ensures a steady stream of income and reduces the risk of vacancies, given the high number of renters who might find the market rate too steep. Landlords should consider the long-term benefits of having reliable tenants over the short-term gains of renting to those who might struggle to meet the higher market rates consistently.
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.