Location: Jonesboro, AR | Metro: Jonesboro, AR HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $890 |
| 1 Bedroom | $890 |
| 2 Bedrooms | $1,070 |
| 3 Bedrooms | $1,410 |
| 4 Bedrooms | $1,420 |
| 5 Bedrooms | $1,647 |
| 6 Bedrooms | $1,845 |
| 7 Bedrooms | $1,993 |
| 8 Bedrooms | $2,093 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 72467 in fiscal year 2024 is set at $890. This figure represents the payment standard for Section 8 housing vouchers in your area, which means that if you decide to participate in the program, the government will pay up to $890 per month toward a tenant's rent. However, it's important to note that this does not represent the actual rent amount you can charge; rather, it sets an upper limit on what the voucher can cover.
Comparing this to the local median rent, which is currently N/A, it might seem challenging to assess demand. However, given that the FMR is based on a 100.0% renter share, it suggests that the $890 should fully cover the rent for a unit. This implies that there is a strong demand for affordable housing in your area, as tenants would be able to find units that match the voucher amount without needing additional income to cover the rent.
When considering the acquisition cost of a property in ZIP 72467, which is also N/A, you'll need to ensure that the $890 monthly payment is sufficient to cover your mortgage, maintenance, and other expenses. Since we don't have specific local median rent data, it's crucial to research the typical rent prices for similar properties in your area to determine if $890 is competitive and will attract tenants.
Before making a final decision to enter the Section 8 market, verify that your property meets all the necessary requirements for participation. This includes ensuring that the unit passes a Housing Quality Standards (HQS) inspection, which checks for safety, habitability, and structural soundness. The inspection is a critical step because it determines whether your property qualifies for the program.
In summary, the FMR of $890 indicates the maximum subsidy available, reflecting a significant demand for affordable housing. Ensure your property's rent aligns with this figure and meets HQS standards to successfully participate in the Section 8 program.
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.