Location: Stone County, AR | Metro: Searcy County, AR
| Unit Size | Monthly FMR |
|---|---|
| Studio | $650 |
| 1 Bedroom | $700 |
| 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 72650 are straightforward. The SAFMR (Standard Area Fair Market Rent) for a two-bedroom apartment in this ZIP code is set at $880 for fiscal year 2026. This is the maximum amount that the housing authority will pay on behalf of a tenant with a voucher. However, the local market rent, according to Census ACS data, is significantly lower at $677.
When a tenant uses a Section 8 voucher, they are responsible for paying a portion of the rent themselves, typically around 30% of their income. The voucher then covers the remaining 70%, up to the SAFMR limit. In ZIP 72650, if we assume a tenant's share is $200 based on average incomes, the total rent would be $800 ($200 tenant share + $600 voucher payment).
Landlords should also factor in utility allowances when considering the overall compensation. These allowances vary but can add an additional $200 to $300 to the monthly rent. Therefore, the total reimbursement to the landlord could be between $1,000 and $1,100 per month for a two-bedroom unit, assuming the utility allowance is around $200-$300.
In practice, this means that landlords in ZIP 72650 will receive a consistent monthly payment that is higher than the local market rent. The difference between the SAFMR of $880 and the local market rent of $677 represents a surplus for landlords who participate in the program. Given the tenant's share and utility allowances, landlords can expect to fill vacancies with a guaranteed payment that exceeds the typical rental rates in the area.
The typical reimbursement gap or surplus for a two-bedroom apartment in ZIP 72650 is a surplus of $203 per month, calculated as the difference between the SAFMR ($880) and the local market rent ($677). This surplus provides landlords with a financial incentive to participate in the Section 8 program, ensuring that they receive a higher rent than what is commonly found in the local market.
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.