Section 8 Fair Market Rent (FMR) for ZIP 72648 - 2027

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$700
1 Bedroom	$850
2 Bedrooms	$990
3 Bedrooms	$1,250
4 Bedrooms	$1,590
5 Bedrooms	$1,844
6 Bedrooms	$2,065
7 Bedrooms	$2,230
8 Bedrooms	$2,342

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Based on the available data, the Fair Market Rent (FMR) for ZIP 72648 in metro FY 2026 is set at $910. However, the current market rent for ZIP 72648, according to recent listings, is lower, ranging from $300 to $499 per month for 1-bedroom units. This indicates that the FMR is significantly higher than the actual market rent, creating a substantial gap.

The gap between the FMR and the market rent can be quantified as follows: the FMR is $910, while the market rent for a 1-bedroom unit is approximately $400 (midpoint of the range provided). This means the FMR is $510 higher than the market rent, or an increase of about 127.5%.

This situation presents a challenge for landlords and small-portfolio investors. When the FMR exceeds the market rent, it suggests that voucher tenants could potentially pay more than what the market demands. However, this does not necessarily translate into a yield play. In fact, accepting housing vouchers might come with additional administrative burdens and potential delays in receiving payments, which could offset the higher rental income. Moreover, the high FMR compared to the market rent may indicate that the FMR is not accurately reflecting the local housing market conditions.

Given the context of ZIP 72648, where only 5.5% of residents are renters, and the median household income is $70,921, it's important to consider the broader economic environment. With such a low percentage of renters and a relatively stable median income, landlords must weigh the benefits of higher rental income from voucher tenants against the potential drawbacks of managing voucher properties.

To summarize, the gap between the FMR and the market rent in ZIP 72648 is significant, standing at $510 or 127.5%. While this might seem attractive for voucher tenants, the overall rental market dynamics and the economic profile of the area suggest that landlords should carefully evaluate the long-term implications before making investment decisions.

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.