FMR is near market; voucher and private rents are aligned.
0.92
4 BR
4 BR
1.01ratio
FMR$1,730
Market$1,720
vs market+$10
FMR is near market; voucher and private rents are aligned.
1.01
0.700.800.901.001.101.201.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
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ZIP 72033 fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 72033 (Conway, AR) is $1,070 a month. That is down 2.7% from $1,100 in FY 2026. Conway is in the Little Rock-North Little Rock-Conway, AR HUD Metro FMR Area. HUD also publishes the ZIP-level Small Area FMRs shown here, but unless the local housing authority has adopted them, vouchers are based on the metro-wide two-bedroom FMR of $1,121. Among 12 ZIP codes in Faulkner County, 72033 is tied for the 7th-highest two-bedroom rent (county range $1,040–$1,160). The median county two-bedroom FMR in Arkansas is $909, so ZIP 72033 is 18% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for 72033
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$940
$920
−2.1%
$828–$1,012
1BR
$950
$930
−2.1%
$837–$1,023
2BR
$1,100
$1,070
−2.7%
$963–$1,177
3BR
$1,480
$1,440
−2.7%
$1,296–$1,584
4BR
$1,750
$1,730
−1.1%
$1,557–$1,903
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for 72033
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$920
$930
$1,070
$1,440
$1,730
FY 2026
$940
$950
$1,100
$1,480
$1,750
FY 2025
$850
$860
$990
$1,310
$1,550
FY 2024
$900
$910
$1,040
$1,390
$1,640
FY 2023
$760
$770
$880
$1,170
$1,400
Two-bedroom rent in nearby Faulkner County ZIP codes
How much will Section 8 pay for a two-bedroom in ZIP 72033?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,121, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,009 to $1,233 a month; under the ZIP-level Small Area FMR of $1,070 it would be $963 to $1,177. The voucher pays the lower of the payment standard or the gross rent, minus the tenant's share, which is usually about 30% of adjusted monthly income. Confirm the local housing authority's current schedule before underwriting.
Which HUD fair market rent area is ZIP 72033 in?
ZIP 72033 is in the Little Rock-North Little Rock-Conway, AR HUD Metro FMR Area. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,121.
How much did fair market rent change in ZIP 72033 for FY 2027?
The two-bedroom FMR fell 2.7%, from $1,100 in FY 2026 to $1,070 in FY 2027. Since FY 2023 it has risen 21.6%.
When do FY 2027 fair market rents take effect?
HUD's FY 2027 fair market rents took effect on October 1, 2026. When FMRs change, housing authorities generally have up to three months to bring payment standards back within 90% to 110% of the new FMR.
Source: HUD FY 2027 Small Area Fair Market Rents and area FMRs. Payment-standard ranges are 90% to 110% of FMR, HUD's basic range, not a housing authority's published schedule. How payment standards are set