Location: Fayetteville-Springdale-Rogers, AR | Metro: Fayetteville-Springdale-Rogers, AR MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,010 |
| 1 Bedroom | $1,160 |
| 2 Bedrooms | $1,380 |
| 3 Bedrooms | $1,910 |
| 4 Bedrooms | $2,310 |
| 5 Bedrooms | $2,680 |
| 6 Bedrooms | $3,002 |
| 7 Bedrooms | $3,242 |
| 8 Bedrooms | $3,404 |
The ZIP code 72733, located in Unknown, Arkansas, presents a unique challenge for both renters and landlords due to the lack of specific economic data. However, based on the available information, we can still draw some conclusions regarding affordability and competition.
A household in ZIP 72733 cannot determine if they can afford the market rate without knowing the median income and the actual rental rates. The Federal Market Rent (FMR) standard for voucher payments in ZIP 72733 for fiscal year 2024 is set at $1210. This figure serves as a benchmark for what the government considers affordable for low-income households receiving housing assistance.
To understand the affordability gap, it is essential to consider the percentage of renters and the total population in ZIP 72733. Without these figures, it is difficult to assess the demand for rental properties and the level of competition among landlords. However, the FMR of $1210 indicates the maximum amount that the Housing Choice Voucher program will pay towards a tenant's rent, which landlords must factor into their pricing strategy.
The takeaway for landlords considering voucher versus cash-pay strategies is that while voucher tenants provide a guaranteed source of income through government subsidies, the payment limit of $1210 per month restricts the potential rental price. Landlords should weigh the benefits of stable, subsidized income against the limitations of higher rents. In an area where market rates exceed the voucher standard, landlords might find themselves choosing between accepting lower rents through the voucher program or targeting cash-paying tenants who can afford higher rents, assuming those tenants exist in sufficient numbers.
In summary, the unknown economic data for ZIP 72733 makes it challenging to assess overall affordability and competition. However, the $1210 FMR for vouchers provides a clear guideline for landlords aiming to balance income stability with the potential for higher rental revenues.
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.