Location: Pope County, AR | Metro: Pope County, AR
| Unit Size | Monthly FMR |
|---|---|
| Studio | $730 |
| 1 Bedroom | $790 |
| 2 Bedrooms | $1,030 |
| 3 Bedrooms | $1,390 |
| 4 Bedrooms | $1,390 |
| 5 Bedrooms | $1,612 |
| 6 Bedrooms | $1,805 |
| 7 Bedrooms | $1,949 |
| 8 Bedrooms | $2,046 |
U.S. Census Bureau data (2024)
The Section 8 analysis for ZIP code 72843 reveals a significant gap between the Fair Market Rent (FMR) and the actual market rent. The FMR for the metro area for fiscal year 2026 is set at $980, while the Census ACS reports the market rent at $850. This means there is a $130 difference, or approximately a 13.2% gap, between what landlords can charge under the Section 8 program and the prevailing market rate.
In this scenario, where the FMR exceeds the market rent, landlords should view properties in ZIP 72843 as a yield play. By accepting Section 8 tenants, landlords can charge closer to the FMR of $980, which is above the current market rate. This allows them to potentially earn higher returns compared to renting to non-voucher tenants who would pay around $850.
The ZIP code has a relatively low percentage of renters at 10.1%, suggesting that the rental market is not saturated, and there may be opportunities to attract voucher holders. Additionally, the median home value of $187,570 and median income of $62,805 provide context for the economic environment. These figures indicate that homeownership is somewhat affordable, but the income level suggests that many residents might still qualify for assistance programs like Section 8.
Landlords must weigh the benefits of higher rents against the potential challenges of managing Section 8 properties. However, the gap between the FMR and the market rent makes it a compelling option for those willing to navigate the program's requirements. Given the data, accepting voucher tenants can lead to better yields and potentially less vacancy risk due to the demand for affordable housing.
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.