Location: Fort Smith, AR | Metro: Fort Smith, AR-OK MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $750 |
| 1 Bedroom | $760 |
| 2 Bedrooms | $990 |
| 3 Bedrooms | $1,340 |
| 4 Bedrooms | $1,640 |
| 5 Bedrooms | $1,902 |
| 6 Bedrooms | $2,130 |
| 7 Bedrooms | $2,300 |
| 8 Bedrooms | $2,415 |
U.S. Census Bureau data (2024)
The ZIP code 72941 stands out within its county due to a unique mix of demographic and economic factors. With a population of 5,140 residents, 21.0% of whom are renters, it has a median household income of $73,558. The median home value in this area is $241,761, indicating a middle-class community with a relatively stable housing market.
For landlords and small-portfolio investors, the key consideration is the voucher economics. The Fair Market Rent (FMR) for ZIP 72941 in fiscal year 2024 is set at $890, slightly below the market rate of $908 as reported by the Census Bureau's American Community Survey (ACS). This means that landlords can expect a modest premium when renting to tenants without vouchers compared to those using Section 8 vouchers.
Given these figures, the ZIP 72941 appears to be a stable market for rental investments. The close alignment between the FMR and the market rent suggests that there is little risk of significant fluctuations in rental income. Additionally, the median income level indicates that most residents are financially secure enough to maintain steady rental payments, even if they do not rely on vouchers.
Investors should note that the slight disparity between the FMR and market rent could present opportunities for higher returns on investment properties. However, it also implies that landlords might need to balance their portfolios to include both voucher and non-voucher tenants to maximize occupancy rates and income stability.
In summary, ZIP 72941 offers a predictable and secure environment for rental investments. Its demographics and economic indicators point towards a community that can support both Section 8 and market-rate rentals, making it an attractive location for landlords looking for consistent performance.
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.