Location: Fayetteville-Springdale-Rogers, AR | Metro: Fayetteville-Springdale-Rogers, AR MSA
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,130 |
| 1 Bedroom | $1,300 |
| 2 Bedrooms | $1,550 |
| 3 Bedrooms | $2,150 |
| 4 Bedrooms | $2,590 |
| 5 Bedrooms | $3,004 |
| 6 Bedrooms | $3,364 |
| 7 Bedrooms | $3,633 |
| 8 Bedrooms | $3,815 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,550 | $281,048 | 0.55% | F |
| 3BR | $2,150 | $367,878 | 0.58% | F |
| 4BR | $2,590 | $533,364 | 0.49% | F |
U.S. Census Bureau data (2024)
The economics of Section 8 housing in ZIP code 72715, Bella Vista, Arkansas, can be broken down into clear components. The SAFMR (Small Area Fair Market Rent) for a two-bedroom apartment in this specific ZIP code for FY 2024 is $1220. This figure represents the maximum amount that the Housing Choice Voucher program will pay toward the rent for a two-bedroom unit in this area.
Local market rents, as measured by ZORI (Zillow Observed Rent Index), stand at $1894 for a similar two-bedroom property. This indicates that the market rent exceeds the SAFMR by approximately $674 per month.
A landlord participating in the Section 8 program receives the difference between the market rent and the SAFMR, plus any applicable utility allowances, directly from the tenant. In ZIP 72715, the tenant's portion of the rent is determined based on their income. Typically, tenants contribute around 30% of their adjusted monthly income toward rent. For instance, if a tenant has an adjusted monthly income of $1500, they would contribute $450 toward the rent, leaving the landlord to cover the remaining cost.
In addition to the tenant's contribution, landlords receive utility allowances from the Housing Authority. These allowances vary but are designed to help cover the costs associated with utilities such as electricity, water, and gas. The exact amount of these allowances can be found in the voucher contract details provided to the landlord.
To illustrate, let's assume a tenant contributes $450 toward the rent. The Housing Authority would then pay the landlord $1220, bringing the total monthly rent received by the landlord to $1670. Given the local market rent of $1894, the landlord would have a reimbursement gap of $224 per month.
The reimbursement gap is the difference between the market rent and the total amount paid by both the tenant and the Housing Authority. In ZIP 72715, this gap for a two-bedroom apartment is typically $674, assuming the tenant's contribution is $450 and the utility allowance covers the rest. Landlords should factor in this gap when considering whether to accept Section 8 vouchers for their properties.
In summary, landlords in ZIP 72715 must understand that while they can charge market rates, the actual reimbursement from the Section 8 program will be capped at the SAFMR of $1220, leading to a significant reimbursement gap unless the tenant's contribution and utility allowances make up the difference. This gap stands at $674, which is a substantial amount to consider when deciding to participate in the program.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.