Location: Stone County, AR | Metro: Stone County, AR
| Unit Size | Monthly FMR |
|---|---|
| Studio | $650 |
| 1 Bedroom | $690 |
| 2 Bedrooms | $910 |
| 3 Bedrooms | $1,260 |
| 4 Bedrooms | $1,270 |
| 5 Bedrooms | $1,473 |
| 6 Bedrooms | $1,650 |
| 7 Bedrooms | $1,782 |
| 8 Bedrooms | $1,871 |
U.S. Census Bureau data (2024)
The economics of Section 8 in ZIP code 72533 are straightforward. The SAFMR (Section 8 Area Fair Market Rent) for a two-bedroom apartment is set at $900 per month for fiscal year 2026. This figure is specific to this ZIP code, reflecting local housing conditions and costs.
In comparison, the local market rent for a similar unit is slightly lower, averaging $863 per month according to the latest Census ACS data. Landlords should note that the SAFMR is the maximum amount that the Housing Choice Voucher program will pay on behalf of a tenant, regardless of the actual market rent.
A voucher payment consists of two parts: the tenant's portion and the utility allowance. The tenant typically pays 30% of their adjusted income toward rent. For instance, if a tenant's monthly income is $1,500, they would contribute $450 towards the rent. The remaining balance up to the SAFMR of $900 would be covered by the government.
The utility allowance varies but can be estimated at around $200-$250 per month for a two-bedroom unit. This allowance is intended to help cover electricity, water, and other essential services. Therefore, the total reimbursement a landlord might expect from the government and the tenant combined would be approximately $650-$700 per month, assuming the tenant's contribution is $450.
This means that in ZIP 72533, where the market rent is $863, landlords would face a $163-$213 monthly shortfall on average when renting to a tenant using a Section 8 voucher. However, it's important to remember that the SAFMR cap is $900, so landlords can list their properties at or below this price to avoid any loss.
To summarize, landlords in ZIP 72533 can expect a reimbursement close to the local market rent if they set their rental rates appropriately. If the market rent is $863 and the landlord lists the property at $900, the typical reimbursement would be around $863, leaving a $37 surplus for the landlord. Conversely, if the landlord sets the rent at $863, they would have a $163-$213 monthly shortfall due to the tenant's contribution and utility allowance.
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.