Location: Fort Smith, AR | Metro: Fort Smith, AR-OK MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $760 |
| 1 Bedroom | $770 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,360 |
| 4 Bedrooms | $1,670 |
| 5 Bedrooms | $1,937 |
| 6 Bedrooms | $2,169 |
| 7 Bedrooms | $2,343 |
| 8 Bedrooms | $2,460 |
U.S. Census Bureau data (2024)
3.8% of residents in ZIP 72952 are renters, indicating a modest demand for rental properties. Despite this, the $725 market rent figure, derived from Census ACS data, suggests that there is still a viable rental market. The $900 Fair Market Rent (FMR) for ZIP 72952 in fiscal year 2024 provides a benchmark for pricing rental units competitively. Given the $49,254 median income in the area, landlords can expect tenants who are financially stable enough to afford the $725 average rent. However, the lack of data on days on market (DOM) and the percentage of price-cut shares implies that there might be limited insights into the speed of property turnover and price adjustments needed in the local rental market.
The $262,295 median home value indicates a relatively affordable housing market compared to many other areas, which could attract first-time buyers and potentially reduce competition for rental properties. Nevertheless, the gap between the $900 FMR and the $725 market rent highlights an opportunity for landlords to increase their rental rates slightly while remaining competitive. This discrepancy also points to potential inefficiencies in the current rental market pricing, suggesting that landlords could adjust their rents upward without alienating tenants.
To conclude, landlords and small-portfolio investors in ZIP 72952 should consider the $900 FMR as a guideline for setting rental prices, especially for properties participating in the Section 8 program. With a median income of $49,254, tenants in the area have the financial capacity to meet the higher FMR. The modest renter share of 3.8% and the affordability of the housing market suggest that there is room for growth in the rental sector. Therefore, the Section 8 verdict for ZIP 72952 is positive, with ample opportunity for landlords to participate and benefit from the program.
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.