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 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 72729 in fiscal year 2024 is set at $1060. This figure represents the payment standard used by the Housing Choice Voucher Program, commonly known as Section 8. It is important to note that this does not equate to the actual rent you can charge your tenants; it is the maximum amount that the program will pay towards the rent.
In ZIP 72729, the renter share is 37.8%, indicating a significant portion of the population relies on rental housing. This high percentage suggests a strong demand for affordable rentals in the area, making it an attractive market for landlords willing to participate in the Section 8 program.
The FMR of $1060 is the benchmark for determining the subsidy amount. For example, if your property's market rent is $1200, the voucher would cover $1060, leaving the tenant to pay the remaining $140 out-of-pocket. The key is ensuring your rental property meets the quality standards set by the program to qualify for these payments.
Acquisition costs for properties in this area are not specified, but the FMR provides a guideline for pricing your rental appropriately. Landlords should aim to keep their total rent below or equal to $1060 to maximize the potential for tenant occupancy without requiring additional contributions from the tenant beyond their share.
To proceed with a Section 8 rental, verify that your property complies with the Housing Quality Standards (HQS) established by the local Public Housing Agency (PHA). This involves conducting an inspection to ensure the unit meets safety and habitability criteria before signing a lease with a Section 8 participant.
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.