Location: Jonesboro, AR | Metro: Jonesboro, AR HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $750 |
| 1 Bedroom | $790 |
| 2 Bedrooms | $940 |
| 3 Bedrooms | $1,270 |
| 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 rent math in ZIP code 72447 does not work favorably for landlords. The Fair Market Rent (FMR) set at $810 for the fiscal year 2024 contrasts sharply with the actual market rent reported at $597 according to the Census ACS. This indicates that landlords might struggle to cover their costs if they aim to charge the FMR, as tenants are only willing to pay closer to the market rate.
Acquisition in ZIP 72447 is moderately affordable, with a median home value of $152,359. However, the lack of data on days on market (DOM) and the percentage of homes requiring price cuts suggests a less transparent housing market. Landlords should proceed with caution, as incomplete information can lead to unexpected challenges in property acquisition.
Tenant demand in ZIP 72447 is relatively low. With a total population of 1,835, only 27.0% are renters. This means there are approximately 495 potential rental households, which could limit the pool of available tenants. Landlords must be prepared to compete for these limited rental opportunities, possibly through offering competitive rents or amenities.
Verdict: While the median home value in ZIP 72447 makes property acquisition affordable, the mismatch between the FMR and the actual market rent, along with the low tenant demand, presents significant challenges for landlords. To succeed, landlords must align their rental prices with the market rate of $597 and be ready to attract tenants from a smaller pool of 495 potential rental households. The lack of detailed market data on DOM and price-cut shares adds an element of risk that must be carefully considered before investing 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.