Location: Independence County, AR | Metro: Cleburne County, AR
| Unit Size | Monthly FMR |
|---|---|
| Studio | $690 |
| 1 Bedroom | $760 |
| 2 Bedrooms | $1,000 |
| 3 Bedrooms | $1,290 |
| 4 Bedrooms | $1,350 |
| 5 Bedrooms | $1,566 |
| 6 Bedrooms | $1,754 |
| 7 Bedrooms | $1,894 |
| 8 Bedrooms | $1,989 |
U.S. Census Bureau data (2024)
The analysis of ZIP code 72523, located in Independence County, AR, reveals several key points that are crucial for landlords and small-portfolio investors.
The first question to address is whether the rent math works. The Fair Market Rent (FMR) for the area is set at $880 for fiscal year 2026. However, the market rent data is currently unavailable, making it difficult to directly compare the two figures. Without market rent data, it's challenging to determine if the $880 FMR aligns with what tenants are willing to pay in this specific ZIP code.
Moving on to the affordability of acquisitions, the median home value and typical days on market (DOM) data are also not available. Additionally, the percentage of homes that have been subject to price reductions is unknown. This lack of information makes it hard to assess the overall cost and competitiveness of purchasing properties in ZIP 72523.
Regarding tenant demand, the ZIP code has a population of 961, with 1.3% being renters. This indicates a low demand for rental properties, suggesting that finding tenants might be challenging due to the limited number of potential renters relative to the total population.
In summary, while the FMR provides a benchmark for rental pricing at $880, the absence of market rent data complicates the assessment of whether this figure is realistic. The acquisition process lacks clarity without median home values and DOM statistics. Lastly, the low renter share of 1.3% implies that tenant demand is weak, which could lead to difficulties in filling rental units. Given these factors, ZIP 72523 does not present an attractive investment opportunity for landlords or small-portfolio investors.
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.