Location: Fayetteville-Springdale-Rogers, AR | Metro: Fayetteville-Springdale-Rogers, AR MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $910 |
| 1 Bedroom | $1,010 |
| 2 Bedrooms | $1,220 |
| 3 Bedrooms | $1,690 |
| 4 Bedrooms | $2,000 |
| 5 Bedrooms | $2,320 |
| 6 Bedrooms | $2,598 |
| 7 Bedrooms | $2,806 |
| 8 Bedrooms | $2,946 |
ZIP code 72702, located within the Fayetteville-Springdale-Rogers, AR MSA, has a Fair Market Rent (FMR) of $1060 for fiscal year 2024. This figure serves as a benchmark for rental costs in the area but does not provide direct comparison data to other ZIP codes within the same MSA. However, we can infer some trends based on the available data.
The FMR of $1060 in ZIP 72702 is likely indicative of the minimum acceptable rent level for federally subsidized housing units, such as those under the Section 8 program. Given that market rent, home value, and renter share data are not available, we must rely on contextual understanding to place ZIP 72702 within the broader spectrum of the Fayetteville-Springdale-Rogers, AR MSA.
In typical MSAs, ZIP codes with an FMR below the average market rent tend to be considered value pockets, offering lower-cost living options compared to the rest of the metropolitan area. If the FMR of $1060 in ZIP 72702 is significantly below the average market rents of the Fayetteville-Springdale-Rogers, AR MSA, it suggests that this ZIP code could be a value pocket, attracting renters who are looking for affordable housing options.
Absent specific market rent and home value data, we cannot definitively categorize ZIP 72702 as a mid-tier neighborhood or a premium sub-market. However, the lack of data on market rent and home values implies that there might be limited private sector activity in these areas, which is often characteristic of value pockets where public housing programs play a significant role.
The unknown percentage of renter share also limits our ability to draw precise conclusions about the composition of the housing market in ZIP 72702. Typically, a high renter share with below-average home values would signal a sweet spot for Section 8 investments, as it indicates a strong demand for affordable rental housing. Since we do not have the exact renter share figure, we cannot confirm this trend for ZIP 72702.
To summarize, ZIP 72702 appears to be a value pocket within the Fayetteville-Springdale-Rogers, AR MSA, given its FMR of $1060. This ZIP code likely offers more affordable rental opportunities compared to other areas in the MSA, making it attractive for investors focused on Section 8 properties. However, without additional data points, we cannot conclusively determine if it represents a unique sweet spot within the larger metropolitan area.
Data Sources: FMR data from HUD (2027).
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.