Location: Pope County, AR | Metro: Conway County, AR
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $700 |
| 1 Bedroom | $750 |
| 2 Bedrooms | $980 |
| 3 Bedrooms | $1,330 |
| 4 Bedrooms | $1,340 |
| 5 Bedrooms | $1,554 |
| 6 Bedrooms | $1,740 |
| 7 Bedrooms | $1,879 |
| 8 Bedrooms | $1,973 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,330 | $176,256 | 0.75% | D |
U.S. Census Bureau data (2024)
The ZIP code 72823 is primarily characterized by a moderate rental presence, with 25.9% of the population being renters. This percentage indicates that while there is a notable tenant base, it is not overwhelmingly dominated by renters. The median household income in this area stands at $69,107, which provides a baseline for assessing the affordability of housing.
Given the market rent of $856, we can determine that the typical rent consumes approximately 12.4% of the median household income. This calculation is derived from dividing the market rent by the median income and multiplying by 100 (856 / 69107 * 100 = 12.39%). This figure suggests that the average rent is relatively affordable compared to the income levels of the residents.
However, when comparing the market rent to the Fair Market Rent (FMR) of $970, as set for FY 2026, it becomes evident that the current market rent is below the FMR. This implies that landlords could potentially increase their rents closer to the FMR without significantly impacting the ability of tenants to pay, assuming they are receiving Section 8 vouchers.
The expected tenant profile in ZIP 72823 would be individuals or families who rely on government assistance for housing. Landlords should anticipate tenants who have a portion of their rent subsidized through Section 8 vouchers. These tenants will likely have a monthly income around or below the median, and the subsidy will cover a significant part of the rent, making it easier for them to afford living in this area.
To summarize, ZIP 72823 is not a renter-heavy zone but has a sufficient number of renters to support a reasonable Section 8 tenant pool. With the current market rent at $856, landlords can expect to attract tenants whose incomes align well with the cost of housing, especially those benefiting from the rental subsidies provided by Section 8 vouchers.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.