Location: Jackson County, AR | Metro: Jonesboro, AR HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $790 |
| 1 Bedroom | $790 |
| 2 Bedrooms | $980 |
| 3 Bedrooms | $1,290 |
| 4 Bedrooms | $1,340 |
| 5 Bedrooms | $1,554 |
| 6 Bedrooms | $1,740 |
| 7 Bedrooms | $1,879 |
| 8 Bedrooms | $1,973 |
U.S. Census Bureau data (2024)
The market in ZIP code 72421 is currently stable, with the Fair Market Rent (FMR) set at $830 for fiscal year 2024, aligning precisely with the market rent figure reported by the Census Bureau's American Community Survey (ACS). This parity suggests that the rental market is functioning efficiently, without significant overvaluation or undervaluation relative to the broader economic context.
The absence of specific data on price-cut shares and days on market (DOM) indicates that there is no immediate indication of a glut in the rental market, which would typically be characterized by landlords lowering rents or properties staying on the market longer due to lack of interest. Similarly, the lack of a median home value figure implies that the focus of the analysis is on the rental market rather than the sale market, suggesting that the dynamics of homeownership may differ from those of renting.
A key statistic is the 36.8% renter share, which is notably high. This percentage reflects a substantial portion of the population choosing to rent rather than own homes, indicating ongoing housing pressure in the area. High renter shares often point towards areas where buying a home is less feasible due to financial constraints or other factors, leading to a greater reliance on the rental market. As such, this ZIP code likely experiences sustained demand for rental properties, making it an attractive market for landlords and small-portfolio investors.
The dynamics of this market suggest that it is one where demand is robust, particularly for rental properties. The alignment between FMR and market rent indicates a well-calibrated market where subsidies and actual costs meet. However, the high renter share also signals potential challenges for long-term stability if conditions change, such as rising interest rates or economic downturns, which could affect the ability of renters to maintain their current living standards.
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.