Location: Fort Smith, AR | Metro: Fort Smith, AR-OK MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $780 |
| 1 Bedroom | $790 |
| 2 Bedrooms | $1,030 |
| 3 Bedrooms | $1,370 |
| 4 Bedrooms | $1,660 |
| 5 Bedrooms | $1,926 |
| 6 Bedrooms | $2,157 |
| 7 Bedrooms | $2,330 |
| 8 Bedrooms | $2,447 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 74945 in fiscal year 2024 is set at $890. This figure represents the payment standard for landlords participating in the Section 8 Housing Choice Voucher program, which means the government will cover up to $890 per month for eligible tenants in this area. However, it's important to note that this does not directly determine your rent price; it's the maximum amount the voucher can cover.
In comparison, the average rent for the same area, according to the Census Bureau's American Community Survey (ACS), is $675. This suggests that the FMR is higher than the typical market rate, potentially offering a better deal for landlords who join the Section 8 program.
About 9.6% of the population in ZIP 74945 are renters, indicating a moderate level of demand for rental properties. While this percentage isn't exceptionally high, it still represents a significant portion of the market, especially for those seeking affordable housing options.
Note that the acquisition cost for rental properties in this area is listed as "N/A," which typically means there isn't enough data available to provide an accurate figure. This could be due to various factors, including limited sales activity or insufficient reporting.
Before you decide to participate in the Section 8 program with a property in ZIP 74945, verify that your property meets all the necessary inspection standards. The government conducts thorough inspections to ensure that the homes are safe and livable, so confirming compliance beforehand can save time and avoid potential rejections.
Participating in Section 8 can be a stable investment opportunity, with the government guaranteeing timely payments up to the FMR. Given the higher FMR compared to the local average rent, this can be particularly attractive for landlords looking to manage risk and maintain cash flow.
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.