Location: Yell County, AR | Metro: Franklin County, AR
| Unit Size | Monthly FMR |
|---|---|
| Studio | $730 |
| 1 Bedroom | $960 |
| 2 Bedrooms | $1,040 |
| 3 Bedrooms | $1,370 |
| 4 Bedrooms | $1,740 |
| 5 Bedrooms | $2,018 |
| 6 Bedrooms | $2,260 |
| 7 Bedrooms | $2,441 |
| 8 Bedrooms | $2,563 |
U.S. Census Bureau data (2024)
A household in ZIP code 72943, with a median income of $62,022, faces significant challenges in affording the market rate rent of $827. This makes it difficult for many renters to cover their housing costs without financial assistance.
The Federal Market Rent (FMR) for the area, set at $810 for zip code 72943 in fiscal year 2024, closely mirrors the market rate but still leaves a noticeable gap. Given the median income, a typical household would struggle to meet even the FMR standard without dedicating a large portion of their earnings to rent.
In ZIP 72943, where 18.0% of the 2,708 residents are renters, the affordability gap suggests intense competition among landlords. Properties that offer rents closer to the FMR or below may attract more tenants, especially those relying on Section 8 vouchers. This competition could drive down rental prices or necessitate offering additional amenities to remain competitive.
Landlords considering their strategy should note that accepting Section 8 vouchers aligns closely with the FMR, making it a viable option for attracting tenants who can afford the rent. However, landlords aiming for higher rents above the market rate should be prepared for reduced demand and longer vacancy periods.
The takeaway for landlords is clear: aligning with or slightly undercutting the FMR of $810 will likely ensure steady occupancy rates. Those who accept Section 8 vouchers will find a stable tenant base, while those seeking cash-paying tenants might need to offer incentives or reduce their asking price to $827 or lower to stay competitive and fill units.
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.