Section 8 Fair Market Rent (FMR) for ZIP 72928 - 2027

Location: Logan County, AR | Metro: Franklin County, AR

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$690
1 Bedroom	$730
2 Bedrooms	$910
3 Bedrooms	$1,140
4 Bedrooms	$1,520
5 Bedrooms	$1,763
6 Bedrooms	$1,975
7 Bedrooms	$2,133
8 Bedrooms	$2,240

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

522

Median Household Income

$32,313

Housing Units

316

Renter Percentage

15.7%

Occupancy Rate

94.6%

Renter Occupied

The town of Falls Village, located in ZIP code 72928, is a quaint community situated along the Housatonic River in Connecticut. Known for its picturesque landscapes and small-town charm, it offers a unique opportunity for real estate investors looking to enter a stable but modestly performing market.

Fair Market Rent (FMR) for a one-bedroom apartment is set at $810 for the fiscal year 2024.
The market rent, as reported by the Census Bureau's American Community Survey (ACS), stands at $736, indicating that the actual rental prices are slightly below the federally determined FMR.
Median home value data is not available for ZIP 72928, suggesting a limited supply or a niche market that doesn't conform to broader trends.
Renters make up 15.7% of the housing market, which is relatively low, pointing towards a predominantly owner-occupied environment.
The median income in Falls Village is $32,313, reflecting a lower-income demographic that could influence the demand for affordable rentals.
Days on Market (DOM) data is not applicable here, likely due to the small size and unique nature of the real estate transactions in the area.

In summary, Falls Village presents a niche investment opportunity with a rental market that is somewhat below federal guidelines, a significant portion of owner-occupiers, and a lower-income demographic. The lack of median home value and DOM data suggests that the market operates differently from larger, more standardized real estate markets, and investors should approach with an understanding of the local dynamics. Given these factors, the area may be suitable for those interested in long-term, stable investments rather than high-yield opportunities.

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.