Location: Fort Smith, AR | Metro: Fort Smith, AR-OK MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $720 |
| 1 Bedroom | $730 |
| 2 Bedrooms | $960 |
| 3 Bedrooms | $1,300 |
| 4 Bedrooms | $1,590 |
| 5 Bedrooms | $1,844 |
| 6 Bedrooms | $2,065 |
| 7 Bedrooms | $2,230 |
| 8 Bedrooms | $2,342 |
U.S. Census Bureau data (2024)
The ZIP code 74946 is characterized by a relatively low concentration of renters, with only 7.1% of the population renting their homes. This suggests that the area is predominantly homeowner-dominated rather than a renter-heavy zone. Given the limited rental market share, it can be inferred that the demand for Section 8 vouchers is likely to be less intense compared to areas with higher percentages of renters.
The median household income for this ZIP code is not available, which makes direct comparisons to market rents challenging. However, without this specific data point, we cannot accurately determine what percentage of local income the typical rent consumes. Nonetheless, the Fair Market Rent (FMR) for the area is set at $890 per month for FY 2024, according to the latest HUD guidelines. This figure represents the maximum amount a landlord can charge a Section 8 tenant in this ZIP code.
In the absence of detailed local income data, the FMR provides a useful benchmark for understanding the economic context of potential tenants. Landlords in ZIP 74946 should anticipate a tenant profile that aligns closely with the income limits associated with Section 8 eligibility. Tenants will likely be individuals or families whose incomes do not exceed the specified thresholds and who require assistance to afford housing in the area.
Given the homeowner-dominated nature of the ZIP code, landlords might find that competition for Section 8 tenants could be less fierce compared to areas with higher renter populations. However, they should still prepare for a thorough vetting process, including background checks and verification of income and voucher status, to ensure reliable tenancy. The expected tenants will be those who rely on government subsidies to cover a significant portion of their monthly housing costs, making the $890 FMR a critical consideration in setting rental prices.
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.