Sebastian County/Fort Smith/72908

72908

ZIPSAFMR

Sebastian County, AR

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ZIP Investment Score

97Above average

095130300

BR	FMR	Eff. Rent	3Y CAGR
0 BR	$770	$710	0.4%
1 BR	$780	$710	0.9%
2 BR	$1,020	$830	0.7%
3 BR	$1,380	$1,450	0.2%
4 BR	$1,690	$1,610	1.6%
5 BR	$1,943	Not available	1.6%
6 BR	$2,235	Not available	1.6%
7 BR	$2,570	Not available	1.6%
8 BR	$2,956	Not available	1.6%

Purchase Price Calculator

Maximum purchase price

$61,421

Cost breakdown

+Likely effective rent$830

HUD FMR$1,020

Market rentUsed$830

Est. payment standard (90%)$920

-Principal and interest-$311

Loan amount$49,137

Down payment$12,284

Rate6.50%

Term30 years

-Operating costs-$319

Property taxes-$61

Insurance-$175

Utilities$0

HOA$0

Management-$83

=Target cash flow+$200

Calculation mode

BedroomsCash-flow target

Down payment methodDown payment %

HOA / mo

Utilities methodUtilities amount

Management methodManagement % of rent

Hold period projections

Annual appreciation rate

3-year hold

+$13,683(111.4% ROI)

Projected value

$66,144

Return breakdown

Property appreciation+$4,723

Loan principal paid down+$1,760

Rental cash flow+$7,200

5-year hold

+$23,211(188.9% ROI)

Projected value

$69,492

Return breakdown

Property appreciation+$8,071

Loan principal paid down+$3,139

Rental cash flow+$12,000

10-year hold

+$48,684(396.3% ROI)

Projected value

$78,624

Return breakdown

Property appreciation+$17,203

Loan principal paid down+$7,481

Rental cash flow+$24,000

Public Housing Authority

Rolodex

Market Alignment

Studio

1.08ratio

FMR$770

Market$710

vs market+$60

FMR is near market; voucher and private rents are aligned.

1.08

1 BR

1.10ratio

FMR$780

Market$710

vs market+$70

FMR is near market; voucher and private rents are aligned.

1.10

2 BR

1.23ratio

FMR$1,020

Market$830

vs market+$190

FMR is above market; underwrite to market rent.

1.23

3 BR

0.93ratio

FMR$1,380

Market$1,490

vs market-$110

FMR is near market; voucher and private rents are aligned.

0.93

4 BR

1.05ratio

FMR$1,690

Market$1,610

vs market+$80

FMR is near market; voucher and private rents are aligned.

1.05

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: --

ZIP 72908 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 72908 (Fort Smith, AR) is $1,020 a month. That is up 4.1% from $980 in FY 2026. Fort Smith is in the Fort Smith, AR-OK MSA. 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 $979. Among 20 ZIP codes in Sebastian County, 72908 is tied for the 4th-highest two-bedroom rent (county range $920–$1,330). The median county two-bedroom FMR in Arkansas is $909, so ZIP 72908 is 12% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 72908
Bedrooms	FY 2026	FY 2027	Change	90–110% range
Studio	$710	$770	+8.5%	$693–$847
1BR	$750	$780	+4.0%	$702–$858
2BR	$980	$1,020	+4.1%	$918–$1,122
3BR	$1,320	$1,380	+4.5%	$1,242–$1,518
4BR	$1,600	$1,690	+5.6%	$1,521–$1,859

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 72908
Fiscal year	Studio	1BR	2BR	3BR	4BR
FY 2027	$770	$780	$1,020	$1,380	$1,690
FY 2026	$710	$750	$980	$1,320	$1,600
FY 2025	$740	$750	$980	$1,330	$1,610
FY 2024	$760	$760	$1,000	$1,370	$1,610
FY 2023	$710	$710	$940	$1,300	$1,500

Two-bedroom rent in nearby Sebastian County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code	2 bedroom	vs. 72908
72901	$960	−5.9%
72902	$990	−2.9%
72903	$1,020	0.0%
72904	$970	−4.9%
72905	$990	−2.9%
72906	$990	−2.9%
72908Current	$1,020	—
72913	$990	−2.9%
72914	$990	−2.9%
72916	$1,330	+30.4%
72917	$990	−2.9%
72918	$990	−2.9%

Questions about ZIP 72908 rents

How much will Section 8 pay for a two-bedroom in ZIP 72908?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $979, which applies unless the housing authority uses Small Area FMRs, that basic range is $881 to $1,077 a month; under the ZIP-level Small Area FMR of $1,020 it would be $918 to $1,122. 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 72908 in?

ZIP 72908 is in the Fort Smith, AR-OK MSA. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $979.

How much did fair market rent change in ZIP 72908 for FY 2027?

The two-bedroom FMR rose 4.1%, from $980 in FY 2026 to $1,020 in FY 2027. Since FY 2023 it has risen 8.5%.

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

County fair market rent Fort Smith, AR fair market rent AR statewide rents What is SAFMR?Data sources