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 ZIP code 72769, located in Arkansas, presents a challenging environment for renters given the median income and rental costs. Households earning the median income of $56,754 would find it difficult to meet the market rate of $857 per month for rent, according to the latest Census ACS data. This rate represents a significant portion of their monthly earnings, making it tough for many to cover other essential expenses.
In comparison, the voucher payment standard for Fair Market Rent (FMR) in ZIP 72769 for fiscal year 2024 is set at $1,080. This amount is higher than the market rate but still within reach for landlords who accept vouchers, offering a potential buffer against the financial strain faced by typical renters.
With only 24.5% of the 907 residents being renters, competition among landlords is likely to be fierce. The limited number of renters means that landlords must consider carefully how they position themselves in the market, whether by offering more competitive rates or by accepting housing vouchers which can bring in more stable income.
The affordability gap in ZIP 72769 highlights the importance of diversifying tenant sources. Landlords should evaluate the benefits of accepting housing vouchers alongside traditional cash-paying tenants. While vouchers offer a steady stream of government-backed payments, cash-paying tenants might provide quicker turnover and flexibility. However, the FMR rate is designed to cover a broader range of rental costs, potentially making voucher tenants a more attractive option in this area.
Landlords in ZIP 72769 should prepare for a market where affordability is a key issue. By understanding the financial constraints of local renters and the support offered by housing vouchers, landlords can make informed decisions about their tenant mix. Accepting vouchers can help secure long-term, reliable tenancy, whereas focusing solely on cash-paying tenants might leave properties vacant during periods of economic stress.
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.