Location: Franklin County, AR | Metro: Fort Smith, AR-OK MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $710 |
| 1 Bedroom | $720 |
| 2 Bedrooms | $940 |
| 3 Bedrooms | $1,220 |
| 4 Bedrooms | $1,570 |
| 5 Bedrooms | $1,821 |
| 6 Bedrooms | $2,040 |
| 7 Bedrooms | $2,203 |
| 8 Bedrooms | $2,313 |
U.S. Census Bureau data (2024)
9.6% of the residents in ZIP code 72930 are renters, indicating a modest demand for rental properties. However, the Fair Market Rent (FMR) for the area, set at $890 for zip FY 2024, suggests that landlords can charge a reasonable rate without exceeding the affordability threshold for Section 8 participants. This FMR is the maximum amount that a voucher holder can be expected to pay toward their housing costs, including rent and utilities.
The lack of specific data on market rent and median home value means that landlords must rely on the FMR to guide their pricing strategies. While the median income data is also not available, it's important to note that the FMR is designed to reflect the average market rent for a standard unit in the area, making it a reliable benchmark for setting rents.
In ZIP 72930, there is no information on the typical days on market (DOM) or the percentage of listings that have had their prices cut. This absence of data could imply either a stable market or an underreported one. Regardless, the FMR provides a clear guideline for what is considered fair and reasonable in terms of rent, which is crucial for landlords participating in the Section 8 program.
To succeed as a landlord in ZIP 72930, it's essential to adhere to the $890 FMR for the fiscal year 2024. This figure ensures that your property remains accessible to tenants using Section 8 vouchers while also providing a predictable revenue stream. The modest 9.6% renter share suggests that competition among landlords might be lower compared to densely populated areas, but it also means that attracting and retaining tenants requires maintaining quality properties that meet the needs of voucher holders.
Given the limited data available, the most prudent approach for landlords and small-portfolio investors is to focus on the $890 FMR as a key indicator for setting rents. This will ensure compliance with HUD guidelines and maximize the chances of finding eligible tenants. The stability implied by the lack of significant price-cutting or extended DOM periods indicates that maintaining consistent occupancy should be feasible.
For Section 8 participation in ZIP 72930, adherence to the $890 FMR is non-negotiable. Landlords who understand and respect this figure will find it easier to navigate the program and secure long-term, stable tenancies. With the right management practices and property maintenance, the modest 9.6% renter share can still offer opportunities for steady investment returns.
Section 8 Verdict: Participation is viable at the $890 FMR, with a focus on maintaining quality properties to appeal to the 9.6% renter share.
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.