Location: Randolph County, AR | Metro: Lawrence County, AR
| Unit Size | Monthly FMR |
|---|---|
| Studio | $650 |
| 1 Bedroom | $690 |
| 2 Bedrooms | $910 |
| 3 Bedrooms | $1,210 |
| 4 Bedrooms | $1,410 |
| 5 Bedrooms | $1,636 |
| 6 Bedrooms | $1,832 |
| 7 Bedrooms | $1,979 |
| 8 Bedrooms | $2,078 |
U.S. Census Bureau data (2024)
19.2% of the residents in ZIP code 72434 are renters, indicating a moderate demand for rental properties. The Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $880, which provides a benchmark for rental pricing. However, the actual market rent, as reported by the Census ACS, stands at $538, suggesting a significant gap between what the government deems fair and what the market currently offers. This discrepancy can be advantageous for landlords willing to adjust their pricing to attract tenants.
$148,510 is the median home value in the area, reflecting a relatively affordable housing market. The median income of $77,734 suggests that many households could struggle to afford higher rents, further supporting the need to align rental prices with the market rate rather than the FMR. Given the lack of data on days on market (DOM) and the percentage of price cuts, it's prudent to assume that the rental market is stable but competitive, requiring landlords to offer attractive rental terms to secure tenants.
The Section 8 Housing Choice Voucher Program can provide a steady stream of income for landlords who are willing to participate. With the FMR at $880 and the market rent at $538, landlords accepting vouchers can ensure consistent occupancy without significantly undercutting the FMR. The program also helps mitigate the risk of non-payment, as vouchers cover a substantial portion of the rent. In ZIP 72434, the opportunity to participate in the Section 8 program is favorable for landlords looking to maintain a stable tenant base while earning a reasonable return on investment.
Verdict: Accepting Section 8 vouchers in ZIP 72434 is a viable strategy for landlords aiming to stabilize occupancy and manage risks 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.