Location: Pike County, MO | Metro: St. Louis, MO-IL HUD Metro FMR Area
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $950 |
| 1 Bedroom | $980 |
| 2 Bedrooms | $1,200 |
| 3 Bedrooms | $1,540 |
| 4 Bedrooms | $1,780 |
| 5 Bedrooms | $2,065 |
| 6 Bedrooms | $2,313 |
| 7 Bedrooms | $2,498 |
| 8 Bedrooms | $2,623 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,200 | $158,116 | 0.76% | D |
| 3BR | $1,540 | $277,228 | 0.56% | F |
| 4BR | $1,780 | $407,153 | 0.44% | F |
U.S. Census Bureau data (2024)
The ZIP code 63343, located in Elsberry, Missouri, within Lincoln County, has a unique demographic profile that sets it apart from other areas. With a population of 4,381 residents, 24.3% of whom are renters, this area stands out due to its relatively low rental rate compared to the overall housing market. The median income here is $74,531, which is higher than the national average, indicating a financially stable community. However, the median home value of $208,531 is lower than many comparable communities, suggesting a mix of affordability and economic comfort.
For landlords and small-portfolio investors interested in Section 8 vouchers, the data presents an opportunity. The Fair Market Rent (FMR) for ZIP 63343 in fiscal year 2024 is set at $1,140, significantly higher than the current market rent of $883, as reported by the Census Bureau's American Community Survey (ACS). This means that landlords who accept Section 8 vouchers can potentially charge more than the current market rate, thereby increasing their rental income. Additionally, the gap between the FMR and the market rent suggests that there could be a high demand for affordable housing options in the area, making Section 8 properties particularly attractive to tenants.
Evaluating the data signature of ZIP 63343, it appears to be stable rather than transitional. The relatively high median income combined with a lower median home value indicates a community where homeownership is accessible, even as rental rates remain modest. This stability is further reinforced by the significant disparity between the FMR and the actual market rent, which could attract more Section 8 participants and stabilize the rental market. For investors, this stability translates into predictable returns and a steady demand for both rental and owned properties.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.