Location: Fort Smith, AR | Metro: Fort Smith, AR-OK MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $730 |
| 1 Bedroom | $730 |
| 2 Bedrooms | $960 |
| 3 Bedrooms | $1,300 |
| 4 Bedrooms | $1,590 |
| 5 Bedrooms | $1,844 |
| 6 Bedrooms | $2,065 |
| 7 Bedrooms | $2,230 |
| 8 Bedrooms | $2,342 |
U.S. Census Bureau data (2024)
56.7% of residents in ZIP 72901, Fort Smith, AR, are renters, highlighting a significant demand for rental properties in the area. The $890 Fair Market Rent (FMR) for zip FY 2024 indicates what the government deems as reasonable rent for a variety of housing types, which is notably higher than the $785 market rent (ZORI) observed in the same region. This suggests that Section 8 vouchers could provide a stable income stream above the average market rates. With a median home value of $139,757, it's evident that homeownership is more affordable compared to many other areas across the country. However, the median income of $42,851 provides context on the financial capabilities of local residents, which landlords should consider when setting rents.
The low 0.2% price-cut share signals that most listings in this market are holding their value without needing to be reduced, which can be reassuring for investors looking for long-term stability. Despite the lack of specific data on days on market (DOM), the overall economic indicators point towards a robust rental market. For landlords and small-portfolio investors, the disparity between the FMR and ZORI offers an opportunity to leverage Section 8 vouchers to fill vacancies and ensure consistent cash flow.
In conclusion, the data paints a picture of a market where Section 8 vouchers can be a valuable tool for landlords, providing a steady source of income at rates above the typical market rent. The relatively low median income and high percentage of renters further support the viability of this approach. Verdict: Fort Smith, AR (ZIP 72901) is a favorable location for Section 8 investments.
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.