Location: Searcy County, AR | Metro: Boone County, AR
| Unit Size | Monthly FMR |
|---|---|
| Studio | $810 |
| 1 Bedroom | $1,020 |
| 2 Bedrooms | $1,140 |
| 3 Bedrooms | $1,400 |
| 4 Bedrooms | $1,860 |
| 5 Bedrooms | $2,158 |
| 6 Bedrooms | $2,417 |
| 7 Bedrooms | $2,610 |
| 8 Bedrooms | $2,741 |
U.S. Census Bureau data (2024)
The median income in ZIP code 72685 stands at $48,750, which places significant constraints on the average household's ability to pay market-rate rents. The current market rate for rent, according to Census ACS data, is $817 per month. This figure represents a substantial portion of the median monthly income, which calculates to approximately $4,062.50 when divided by 12. Thus, the $817 market rent equates to roughly 20% of the median monthly income.
In comparison, the Fair Market Rent (FMR) set by HUD for the fiscal year 2026 is $880. This means that while the FMR is slightly higher than the market rate, it still poses a challenge for the average household. The difference between the FMR and the market rate is $63, indicating a modest increase in rent that landlords could potentially receive through voucher programs.
With 19.4% of the 1,398 residents being renters, the total number of renters in ZIP 72685 is approximately 270. This relatively small number of renters suggests a competitive landscape for landlords, where attracting tenants could be challenging if rents are set too high. The affordability gap, therefore, is critical; it highlights the struggle many households face in meeting even the lower market-rate rents, let alone the slightly elevated FMR.
The takeaway for landlords considering voucher versus cash-pay strategies is clear. While voucher programs offer a guaranteed rent at a rate close to the FMR, the slight premium over the market rate might not significantly offset the administrative burden and risk associated with vouchers. Landlords should focus on setting rents that are attractive to cash-paying tenants, ensuring they remain below the FMR but still competitive within the local market. This strategy would likely maximize occupancy rates and minimize vacancy periods, given the tight budget constraints faced by the majority of renters in ZIP 72685.
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.