Section 8 Fair Market Rent (FMR) for ZIP 72727 - 2027

Location: Franklin County, AR | Metro: Fayetteville-Springdale-Rogers, AR MSA

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$980
1 Bedroom	$1,130
2 Bedrooms	$1,340
3 Bedrooms	$1,860
4 Bedrooms	$2,240
5 Bedrooms	$2,598
6 Bedrooms	$2,910
7 Bedrooms	$3,143
8 Bedrooms	$3,300

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

6,703

Median Household Income

$75,402

Housing Units

2,823

Renter Percentage

12.7%

Occupancy Rate

89.4%

Renter Occupied

320

Housing Authorities Serving ZIP 72727

Fayetteville Housing Authority (Fayetteville, AR) - 759 Section 8 vouchers
Springdale Housing Authority (Springdale, AR) - 159 Section 8 vouchers
Franklin County Public Housing Agency (Ozark, AR) - 109 Section 8 vouchers
Housing Authority of the City of Fayetteville (Fayetteville, AR)
Housing Authority of the City of Ozark (Ozark, AR)

The ZIP code 72727, located in Arkansas, offers a stable market for both landlords and small-portfolio investors. The area is characterized by a moderate cost of living, supported by federal guidelines and local rental trends. Here's a detailed breakdown of key metrics that provide insight into the rental market dynamics.

Fair Market Rent (FMR) for a 2-bedroom apartment: The FMR set by the U.S. Department of Housing and Urban Development for a 2-bedroom apartment in ZIP 72727 for fiscal year 2024 is $1070. This figure represents the minimum acceptable rent for federally subsidized housing units.
Market Rent (ZORI): According to Zillow's ZORI (Zillow Observed Rental Index), the average market rent for properties in ZIP 72727 stands at $1,700. This indicates that the local rental market exceeds federal guidelines, offering potential for higher returns on investment.
Median Home Value: The median home value in ZIP 72727 is $285,212. This reflects the typical price range for homeowners in the area and can influence the attractiveness of the neighborhood for both renters and buyers.
Renter Share: Approximately 12.7% of the population in ZIP 72727 consists of renters, which suggests a relatively balanced market between renters and owners. However, the percentage also implies that there is room for growth in the rental sector.
Median Income: The median household income in ZIP 72727 is $75,402. This level of income supports a diverse range of rental options, from affordable units to higher-end properties.

In summary, ZIP 72727 presents a favorable environment for rental investments, with market rents significantly above the Fair Market Rent. The median home value and median income suggest a stable economic base that supports rental demand. While the renter share is modest, it indicates a manageable competition and a potential for expansion as the market evolves. For landlords and small-portfolio investors, the combination of these factors points to a promising opportunity for steady returns and long-term property appreciation.

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.