Location: Greene 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 | $920 |
| 1 Bedroom | $930 |
| 2 Bedrooms | $1,120 |
| 3 Bedrooms | $1,470 |
| 4 Bedrooms | $1,480 |
| 5 Bedrooms | $1,717 |
| 6 Bedrooms | $1,923 |
| 7 Bedrooms | $2,077 |
| 8 Bedrooms | $2,181 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,470 | $219,763 | 0.67% | D |
| 4BR | $1,480 | $280,632 | 0.53% | F |
U.S. Census Bureau data (2024)
A landlord considering purchasing a property in ZIP code 72417 for Section 8 purposes must evaluate several key factors before making a decision. The first step is to determine if the Fair Market Rent (FMR) of $920 for the fiscal year 2024 can cover the debt service on a property valued at $227,682. If the monthly debt service is less than $920, then the answer is yes. However, if the debt service exceeds this amount, the answer is no.
The second question is whether the market rent, as indicated by the ZORI (Zillow's Observed Rent Index), which is $1,270, is above, at, or below the FMR. Since the market rent is higher than the FMR, it suggests that there is potential for landlords to charge more than the Section 8 payment limit. This could mean that landlords might need to consider supplementary income sources or non-Section 8 tenants to fully capitalize on the market rent. In this scenario, the answer is it depends, as it will depend on the landlord's willingness to accept lower rents from Section 8 tenants compared to what the market allows.
The third factor is assessing the rental demand. With 37.6% of residents being renters, there is a significant portion of the population that relies on rental housing. However, the data provided does not include the Days on Market (DOM) for rentals, which would indicate how quickly properties are rented out. Without this information, we cannot definitively assess the speed of demand. Given only the percentage of renters, the answer to whether there is sufficient demand is it depends. A high percentage of renters indicates interest in the area, but without knowing the DOM, we cannot fully gauge the urgency of demand.
In conclusion, while the percentage of renters and the FMR provide a starting point for evaluating the viability of a Section 8 investment in ZIP 72417, the final decision hinges on the specifics of debt service and the landlord's strategic approach to balancing Section 8 payments with market rents. Additional research into local rental dynamics and property management costs is recommended.
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.