ZIP 71602 Fair Market Rent FY2027

Small Area Fair Market Rents for ZIP code 71602 in the Grant County, AR FMR area.

Grant County, AR

$800Efficiency

$8001 bedroom

$9702 bedrooms

$1,2603 bedrooms

$1,3904 bedrooms

Payment standard range

Unit size	SAFMR	90%	110%	Metro FMR
Efficiency	$800	$720	$880	$802
1 bedroom	$800	$720	$880	$805
2 bedrooms	$970	$873	$1,067	$909
3 bedrooms	$1,260	$1,134	$1,386	$1,196
4 bedrooms	$1,390	$1,251	$1,529	$1,468

Housing authorities may set voucher payment standards from 90% to 110% of the FMR that applies to them.

Jefferson County, AR

$800Efficiency

$8001 bedroom

$9702 bedrooms

$1,2603 bedrooms

$1,3904 bedrooms

Payment standard range

Unit size	SAFMR	90%	110%	Metro FMR
Efficiency	$800	$720	$880	$782
1 bedroom	$800	$720	$880	$787
2 bedrooms	$970	$873	$1,067	$955
3 bedrooms	$1,260	$1,134	$1,386	$1,239
4 bedrooms	$1,390	$1,251	$1,529	$1,266

Housing authorities may set voucher payment standards from 90% to 110% of the FMR that applies to them.

Income in ZIP 71602

$61,864average adjusted gross income per tax return (2022)

$43,138average salaries and wages per return

6,540tax returns filed

19%of average income for a 2-bedroom SAFMR

Adjusted gross income	Share of returns
$1 to $25,000	31.2%
$25,000 to $50,000	28.3%
$50,000 to $75,000	15.6%
$75,000 to $100,000	9.2%
$100,000 to $200,000	12.7%
$200,000 or more	3.1%

IRS Statistics of Income, individual income tax returns by ZIP code, tax year 2022. 24.9% of returns claimed the Earned Income Tax Credit.

Questions and answers

What is the Small Area Fair Market Rent for ZIP code 71602?

HUD's FY2027 Small Area FMRs for ZIP 71602 (Grant County, AR) are $800 efficiency, $800 one bedroom, $970 two bedrooms, $1,260 three and $1,390 four bedrooms.

What payment standard can a housing authority set in ZIP 71602?

Public housing agencies may set voucher payment standards between 90% and 110% of the Small Area FMR – for a two-bedroom unit $873 to $1,067.

How affordable is rent in ZIP 71602?

Tax returns filed from ZIP 71602 reported an average adjusted gross income of $61,864 (2022). A two-bedroom unit at the Small Area FMR costs $11,640 a year, or 19% of that income.