Location: Carroll County, AR | Metro: Boone County, AR
| Unit Size | Monthly FMR |
|---|---|
| Studio | $680 |
| 1 Bedroom | $750 |
| 2 Bedrooms | $980 |
| 3 Bedrooms | $1,360 |
| 4 Bedrooms | $1,460 |
| 5 Bedrooms | $1,694 |
| 6 Bedrooms | $1,897 |
| 7 Bedrooms | $2,049 |
| 8 Bedrooms | $2,151 |
U.S. Census Bureau data (2024)
A household in ZIP code 72662, with a median income of $55,734, faces significant challenges in affording the market rate rent of $658. This makes it difficult for many residents to secure housing without assistance. The situation becomes even more pronounced when comparing the market rate to the Fair Market Rent (FMR) standard set by HUD for Section 8 vouchers, which stands at $960 for the metro area in fiscal year 2026.
The disparity between the median income and the rent levels suggests an affordability gap for typical households. Given that 34.5% of the population are renters, and the total population is 2,967, landlords will likely face stiff competition for tenants who can pay the market rate. Many potential renters may be inclined towards subsidized housing options due to financial constraints.
In this context, landlords should consider the benefits of accepting Section 8 vouchers. While the voucher payment is higher than the market rate at $960, it ensures a stable and consistent stream of rental income. Landlords can also benefit from the security of knowing that their units are occupied by eligible families who have been vetted through the voucher program.
The takeaway for landlords is clear: accepting Section 8 vouchers can provide a competitive edge in a market where many households struggle to meet the cost of rent. It offers a reliable tenant base and helps fill units that might otherwise remain vacant due to the high cost of living relative to income levels.
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.