Location: Fort Smith, AR | Metro: Fayetteville-Springdale-Rogers, AR MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $910 |
| 1 Bedroom | $1,010 |
| 2 Bedrooms | $1,220 |
| 3 Bedrooms | $1,690 |
| 4 Bedrooms | $2,000 |
| 5 Bedrooms | $2,320 |
| 6 Bedrooms | $2,598 |
| 7 Bedrooms | $2,806 |
| 8 Bedrooms | $2,946 |
U.S. Census Bureau data (2024)
The ZIP code 72948 presents a unique snapshot of the real estate market, particularly concerning rental properties. With the Fair Market Rent (FMR) set at $930 for the fiscal year 2024, it's evident that this area has a defined threshold for affordable housing under the Section 8 program. However, the lack of available market rent data suggests a less active rental sector compared to other ZIP codes.
The absence of data on price-cut share and days on market (DOM) indicates a stable market where significant fluctuations are not occurring. This stability can be interpreted as a balance between supply and demand, although the specific dynamics remain unclear without additional data points. The median home value being listed as N/A implies that there might be limited sales activity, which could suggest a market primarily oriented towards owner-occupied homes rather than frequent transactions.
A striking feature of ZIP 72948 is the reported 0.0% renter share. This statistic points to a predominantly homeowner-focused community, where long-term housing pressure is likely minimal due to low demand for rental units. Landlords and small-portfolio investors should consider this when evaluating potential returns on investment in rental properties, as the market may not support high occupancy rates or significant rent increases.
In summary, ZIP 72948 appears to be a market where homeownership is prevalent, and the rental sector is relatively quiet. The defined FMR of $930 provides a benchmark for affordability, but the low renter share suggests limited opportunities for rental investments. For those looking to enter the rental market here, understanding the local dynamics and the reasons behind the low renter share will be crucial for success.
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.