Location: Jonesboro, 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 | $790 |
| 1 Bedroom | $800 |
| 2 Bedrooms | $960 |
| 3 Bedrooms | $1,270 |
| 4 Bedrooms | $1,340 |
| 5 Bedrooms | $1,554 |
| 6 Bedrooms | $1,740 |
| 7 Bedrooms | $1,879 |
| 8 Bedrooms | $1,973 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,270 | $182,769 | 0.69% | D |
U.S. Census Bureau data (2024)
The ZIP code 72437 presents a dynamic rental market with a Fair Market Rent (FMR) of $960 for the fiscal year 2024. This figure is notably higher than the market rent reported by the Census American Community Survey (ACS) at $868, indicating that while there may be some upward pressure on rents, the actual market rates have yet to fully align with government-set benchmarks.
A price-cut share of just 0.1% suggests that landlords are not frequently lowering their rental prices, which could imply a relatively stable demand for rental properties in the area. However, the absence of data on days on market (DOM) makes it difficult to conclusively state whether supply outpaces demand or vice versa. In a market where supply exceeds demand, we would typically see higher DOM figures and more frequent price cuts as landlords adjust to attract tenants.
The median home value in ZIP 72437 stands at $163,265. This figure can help gauge the overall economic climate of the area and the affordability of homeownership compared to renting. If homeownership is becoming less affordable relative to the FMR, it could lead to an increase in the number of renters over time.
A 28.5% renter share is significant and indicates a substantial portion of the population relies on rental housing. This high percentage of renters suggests ongoing long-term housing pressure, as a larger proportion of residents may find it challenging to transition into homeownership. The dynamics of this market likely involve a steady need for rental properties, supported by a mix of economic factors, including employment opportunities and the cost of living.
In summary, ZIP 72437 exhibits characteristics of a market with balanced demand, though the high renter share points towards sustained pressure for rental housing. Landlords should be attentive to these trends, ensuring their properties remain competitive without necessarily needing to engage in frequent price reductions.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.