Location: Jonesboro, AR | Metro: Jonesboro, AR HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $970 |
| 1 Bedroom | $980 |
| 2 Bedrooms | $1,180 |
| 3 Bedrooms | $1,550 |
| 4 Bedrooms | $1,560 |
| 5 Bedrooms | $1,810 |
| 6 Bedrooms | $2,027 |
| 7 Bedrooms | $2,189 |
| 8 Bedrooms | $2,298 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 72411 in fiscal year 2024 is set at $930. This figure represents the payment standard for Section 8 housing vouchers in your area, meaning that if you participate in the Section 8 program, the government will pay up to $930 per month towards a tenant's rent. However, this does not mean that all tenants will pay exactly this amount; it is the maximum subsidy level.
To put this into perspective, the average rent in ZIP 72411, according to the Census Bureau's American Community Survey, is $1,028. This indicates that the FMR is slightly below the market rate, suggesting that landlords may need to adjust their expectations for total monthly rent income. The difference between the FMR and the actual market rate can be made up by the tenant paying the balance, which would be $98 per month in this case.
The demand for rentals in this area is substantial, with 41.1% of residents being renters. This high percentage suggests a strong market for rental properties, particularly those that qualify for Section 8 assistance. Landlords can leverage this demand to fill vacancies quickly, especially with the support of the Section 8 program.
When acquiring a new property in ZIP 72411, the median home value is around $136,041. This figure can help you understand the potential investment cost and resale value of properties in the area. It also provides a basis for estimating the costs associated with maintaining and managing a rental property under the Section 8 program.
Before deciding to take on a Section 8 rental, there is one critical step to verify: ensure that the property meets the Housing Quality Standards (HQS). These standards are set by the Department of Housing and Urban Development (HUD) and cover a wide range of conditions that must be met for the property to be eligible for the program. By confirming compliance with HQS, you can avoid delays and ensure a smoother transition into the Section 8 program.
In summary, participating in Section 8 in ZIP 72411 offers a stable source of rental income, with the government covering up to $930 of the rent. Given the local average rent of $1,028, tenants will likely contribute an additional $98 per month. With a significant portion of residents renting, the demand for affordable housing is high. Understanding these key figures and ensuring your property meets HUD's HQS can guide your decision effectively.
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.