Location: Searcy County, AR | Metro: Boone County, AR
| Unit Size | Monthly FMR |
|---|---|
| Studio | $640 |
| 1 Bedroom | $710 |
| 2 Bedrooms | $910 |
| 3 Bedrooms | $1,220 |
| 4 Bedrooms | $1,320 |
| 5 Bedrooms | $1,531 |
| 6 Bedrooms | $1,715 |
| 7 Bedrooms | $1,852 |
| 8 Bedrooms | $1,945 |
U.S. Census Bureau data (2024)
The ZIP code 72633 is located in a rural area of Arkansas, primarily encompassing the town of Ravenden and surrounding communities. This neighborhood is characterized by a small population of 1,512 residents, where only 5.2% are renters. The median household income in this area stands at $45,385, reflecting a modest economic profile. The median home value is $229,682, indicating that homeownership is relatively affordable compared to national averages.
Transitioning into the realm of rental economics, the Fair Market Rent (FMR) for ZIP 72633, set by HUD for metro areas in fiscal year 2026, is $880. However, the actual market rent, as reported by the Census Bureau's American Community Survey (ACS), is significantly lower at $676. This discrepancy highlights an opportunity for investors, particularly those operating under the Section 8 Housing Choice Voucher program, as they can potentially secure properties at market rates while receiving higher government-subsidized rents.
Given these dynamics, ZIP 72633 could be suitable for both hands-off voucher operators and hands-on value-add buyers. For hands-off operators, the low percentage of renters suggests limited competition and stable occupancy rates, making it easier to manage a portfolio without constant tenant turnover. The difference between the FMR and the market rent provides a buffer for maintaining profitability. On the other hand, for hands-on investors looking to add value, the modest economic environment offers room for improvement through property enhancements, which could attract a wider range of tenants and potentially command higher rents in the future.
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.