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)
A skeptical investor might raise several concerns regarding the real estate market in ZIP 72747. Let's address these objections with available data.
Objection 1: Will Fair Market Rent (FMR) of $1040 for ZIP 72747 (FY 2024) cover the mortgage on an average home?
The data does not provide the exact average home price for ZIP 72747. However, based on Zillow's recent listings, we can infer that the real estate market in this area is relatively low-key. A home priced around the median for similar areas could be reasonably affordable. To accurately determine if the FMR covers the mortgage, one would need to know the average home price and the prevailing mortgage rates.
Objection 2: Is there enough renter demand at 0.0% occupancy rate?
The occupancy rate figure of 0.0% appears to be incorrect or incomplete, as it suggests no rental units are occupied, which is unlikely given the presence of 30 more pet-friendly apartments matching filters just outside ZIP 72747. This indicates some level of demand for rental properties. While specific occupancy rates for ZIP 72747 are not provided, the existence of multiple rental options near the area implies a market for renters.
Objection 3: Will housing vouchers keep pace with the market rents in ZIP 72747?
Data from HUD's Housing Choice Voucher program dashboard shows trends in voucher utilization but does not specify figures for ZIP 72747 alone. Generally, voucher amounts adjust annually based on local market conditions. In ZIP 72747, the likelihood of vouchers covering FMR depends on the local adjustment factors applied by the Department of Housing and Urban Development (HUD).
In conclusion, while certain specifics such as average home prices and precise occupancy rates are missing, the available data suggests a manageable real estate market for small-portfolio investors. The skepticism should be balanced with further research into local mortgage rates and more detailed rental market statistics.
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.