Section 8 Fair Market Rent (FMR) for ZIP 72946 - 2027

Location: Franklin County, AR | Metro: Fort Smith, AR-OK MSA

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$870
1 Bedroom	$880
2 Bedrooms	$1,150
3 Bedrooms	$1,560
4 Bedrooms	$1,920
5 Bedrooms	$2,227
6 Bedrooms	$2,494
7 Bedrooms	$2,694
8 Bedrooms	$2,829

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

3,844

Median Household Income

$75,494

Housing Units

1,568

Renter Percentage

10.2%

Occupancy Rate

86.2%

Renter Occupied

138

The ZIP code 72946, located in Arkansas, presents a unique market for real estate investors interested in the dynamics of Section 8 housing. This area is characterized by a blend of affordable living conditions and stable rental markets, making it a prime location for those looking to secure steady cash flows through government-assisted tenancy.

The Fair Market Rent (FMR) for ZIP 72946 in fiscal year 2024 is set at $890. This figure represents the maximum amount that landlords can charge for a Section 8 voucher, ensuring a predictable revenue stream.
The average market rent for the area is $775, according to the latest data from the Census Bureau's American Community Survey (ACS). This suggests that properties rented under Section 8 could command higher rents compared to the general market, providing an additional margin of profit.
The median home value in ZIP 72946 stands at $206,590, indicating a relatively low barrier to entry for property acquisition and offering potential appreciation over time.
Renters make up 10.2% of the total population, which is a smaller share than many urban areas but still significant enough to support a niche market for rental properties.
The median income for residents is $75,494, suggesting a middle-class demographic that is likely to be eligible for Section 8 assistance, thereby maintaining demand for subsidized housing units.
While the Days on Market (DOM) statistic is currently unavailable, the combination of the above factors points to a stable and potentially growing rental market.

In summary, ZIP 72946 offers a balanced opportunity for landlords and small-portfolio investors. The difference between the market rent and the FMR indicates a potential for slightly higher returns on investment when participating in the Section 8 program. Additionally, the low median home value and middle-class income levels support the viability of rental properties, especially those catering to families seeking affordable housing options. Despite the lack of specific DOM data, the overall economic profile of the area suggests a favorable environment for long-term rental 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.