Location: Phillips County, AR | Metro: Lee County, AR
| Unit Size | Monthly FMR |
|---|---|
| Studio | $760 |
| 1 Bedroom | $820 |
| 2 Bedrooms | $1,070 |
| 3 Bedrooms | $1,480 |
| 4 Bedrooms | $1,620 |
| 5 Bedrooms | $1,879 |
| 6 Bedrooms | $2,104 |
| 7 Bedrooms | $2,272 |
| 8 Bedrooms | $2,386 |
U.S. Census Bureau data (2024)
The ZIP code 72355 has a population of 1,780 residents, with 38.2% being renters. This indicates that it is a moderately renter-heavy area, suggesting there could be a decent demand for rental properties among tenants using housing vouchers. The median household income stands at $55,307, which provides a baseline for understanding the financial capacity of potential tenants.
A typical market rent of $960 in this area represents approximately 17.35% of the median household income. This percentage can be calculated as follows: ($960 / $55,307) * 100 = 17.35%. This figure is close to the Fair Market Rent (FMR) of $950 for the fiscal year 2026 in the metro area, indicating that rents are competitive with government standards and likely reflect the economic realities of the region.
The proximity of the market rent to the FMR suggests that landlords in ZIP 72355 can expect a steady stream of Section 8 tenants. These tenants will have their rent subsidized, typically paying 30% of their adjusted income towards rent, while the government covers the remaining portion up to the FMR. Given the income levels and the rent-to-income ratio, landlords can anticipate a tenant pool that is financially stable enough to meet their obligations under the voucher program without significant risk of default.
To summarize, landlords and small-portfolio investors in ZIP 72355 should prepare for a moderate influx of Section 8 tenants, who are likely to be responsible and able to cover their share of the rent based on their income. The area's rent-to-income ratio supports a healthy balance between affordability and profitability, making it an attractive market for those willing to participate in the voucher program.
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.