Location: Yell County, AR | Metro: Yell County, AR
| Unit Size | Monthly FMR |
|---|---|
| Studio | $740 |
| 1 Bedroom | $750 |
| 2 Bedrooms | $930 |
| 3 Bedrooms | $1,270 |
| 4 Bedrooms | $1,380 |
| 5 Bedrooms | $1,601 |
| 6 Bedrooms | $1,793 |
| 7 Bedrooms | $1,936 |
| 8 Bedrooms | $2,033 |
U.S. Census Bureau data (2024)
The economics of Section 8 in ZIP code 72824 are straightforward. For a two-bedroom rental unit, the SAFMR (Small Area Fair Market Rent) is set at $970 per month for fiscal year 2026. This figure is specific to this ZIP code, reflecting the localized rental market conditions.
In contrast, the local market rent for a similar unit is reported at $767 per month according to Census ACS data. This indicates that the SAFMR is higher than the average market rent, which can be advantageous for landlords who participate in the program.
A Section 8 voucher works by covering the difference between the tenant's contribution and the SAFMR. Tenants are typically required to pay 30% of their adjusted income towards rent. If we assume an average adjusted income of $2,000 per month, the tenant would contribute approximately $600 per month.
The remainder of the rent, up to the SAFMR, is covered by the housing authority. In this case, it would be $370 per month ($970 - $600 = $370). Additionally, the voucher includes utility allowances, which vary but can be estimated around $200 per month for a two-bedroom unit. Therefore, the total monthly reimbursement to the landlord would be around $570 per month ($370 + $200).
This means that landlords in ZIP 72824 who accept Section 8 vouchers will receive a combined payment of $1,170 per month from both the tenant and the housing authority ($600 from the tenant + $570 from the housing authority). This amount exceeds the local market rent of $767 by a significant margin, providing a surplus of $403 per month.
To summarize, participating in the Section 8 program in ZIP 72824 can be financially beneficial for landlords, as they receive a higher monthly rent compared to the average market rates, ensuring a steady and reliable income stream.
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.