Location: Lawrence County, AR | Metro: Jonesboro, AR HUD Metro FMR Area
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $840 |
| 1 Bedroom | $850 |
| 2 Bedrooms | $1,030 |
| 3 Bedrooms | $1,350 |
| 4 Bedrooms | $1,370 |
| 5 Bedrooms | $1,589 |
| 6 Bedrooms | $1,780 |
| 7 Bedrooms | $1,922 |
| 8 Bedrooms | $2,018 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,350 | $208,694 | 0.65% | D |
U.S. Census Bureau data (2024)
The ZIP code 72416 represents a moderately renter-heavy area, with 23.6% of the population renting their homes. Given the total population of 5,642, this translates to approximately 1,325 renters. The median household income in this ZIP is $67,448, indicating a middle-class community. The market rent stands at $904 per month, which consumes about 16.4% of the median household income. This figure is calculated by dividing the annual rent ($10,848) by the median household income ($67,448).
The Federal Market Rent (FMR) for this ZIP is set at $910 for FY 2024, closely aligning with the market rent of $904. This suggests that the rental market in ZIP 72416 is fairly competitive and reflective of federal guidelines, making it an attractive area for Section 8 tenants.
A landlord in ZIP 72416 should expect a tenant profile that includes families and individuals who rely on housing vouchers due to the relatively high market rent compared to the median income. These tenants will likely be seeking affordable housing options and will have a documented need for subsidized rent. With the FMR being slightly above the market rent, landlords can anticipate a steady demand for Section 8 tenants without significantly compromising on rental rates.
To summarize, ZIP 72416 has a notable number of renters and a strong demand for housing vouchers. The market rent is a reasonable portion of the local median income, ensuring that landlords can attract tenants who are eligible for Section 8 assistance while maintaining competitive rates. The alignment between market rent and FMR supports a healthy balance for both landlords and voucher holders.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.