Location: Clay County, AR | Metro: Clay County, AR
| Unit Size | Monthly FMR |
|---|---|
| Studio | $680 |
| 1 Bedroom | $690 |
| 2 Bedrooms | $910 |
| 3 Bedrooms | $1,210 |
| 4 Bedrooms | $1,270 |
| 5 Bedrooms | $1,473 |
| 6 Bedrooms | $1,650 |
| 7 Bedrooms | $1,782 |
| 8 Bedrooms | $1,871 |
U.S. Census Bureau data (2024)
The ZIP code 72424, located within the Clay County, AR metro area, has a Federal Market Rent (FMR) of $880 for fiscal year 2026. This figure represents the maximum amount that a household receiving Section 8 assistance can pay for rent in this area. However, the specific market rent and home values for ZIP 72424 are currently unavailable.
The renter share in ZIP 72424 stands at 13.9%, which is a key metric for assessing the potential demand for rental properties. To determine if ZIP 72424 is a value pocket, a mid-tier neighborhood, or a premium sub-market within the Clay County, AR metro, we must compare it against typical ZIP codes in the same county. While specific data on other ZIP codes within Clay County is not provided here, we can make some inferences based on the available information.
The FMR of $880 suggests that 72424 could be considered a mid-tier neighborhood within its metro area. This figure is likely to be higher than the FMR in value pockets but lower than those in premium sub-markets. The absence of market rent and home value data makes it challenging to provide a definitive classification, but the FMR serves as a reasonable indicator of the rental price range.
A notable point is the relatively high renter share of 13.9%. In many cases, a high proportion of renters coupled with below-average home values can indicate a sweet spot for Section 8 investments. However, since the home values for 72424 are not available, we cannot confirm this trend. If the home values in 72424 are indeed below the average for the Clay County, AR metro, then this ZIP code could present an attractive opportunity for landlords and small-portfolio investors seeking to cater to the needs of renters eligible for Section 8 assistance.
To conclude, while ZIP 72424 appears to be a mid-tier neighborhood due to its FMR, the high renter share might suggest a value pocket, especially if home values are below the metro average. Landlords should consider the specific dynamics of the local real estate market and the potential for Section 8 households when making investment decisions in this area.
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.