Location: Ralls County, MO | Metro: Audrain County, MO
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 | $740 |
| 1 Bedroom | $810 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,340 |
| 4 Bedrooms | $1,570 |
| 5 Bedrooms | $1,821 |
| 6 Bedrooms | $2,040 |
| 7 Bedrooms | $2,203 |
| 8 Bedrooms | $2,313 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,010 | $129,370 | 0.78% | D |
| 3BR | $1,340 | $175,662 | 0.76% | D |
U.S. Census Bureau data (2024)
With a Fair Market Rent (FMR) of $910 for the metro area in fiscal year 2026, landlords in ZIP 63382 (Vandalia, MO) can expect to see a significant alignment between the FMR and the actual market rent of $812, as reported by the Census Bureau's American Community Survey. This close match suggests that the Section 8 program provides competitive rates, making it an attractive option for tenants seeking affordable housing. The median home value stands at $133,291, indicating that while homeownership is attainable, a substantial portion of the population—33.2%—chooses to rent, possibly due to financial constraints or preference. The median income of $60,733 further supports this trend, as it may be insufficient for many to afford homeownership, thus driving demand for rental properties. Despite the high renter share, the lack of data on days on market (DOM) and the percentage of price-cut shares suggests stability in the local real estate market, without significant fluctuations or prolonged vacancies. For landlords, this means steady demand and minimal risk of prolonged vacancy periods. Given the favorable conditions, including the competitive Section 8 rates and strong tenant demand, it is clear that participating in the Section 8 program in Vandalia, MO, is a sound investment strategy.
Section 8 Verdict: Acceptance of Section 8 tenants is advisable in ZIP 63382, given the alignment of FMR with market rents and the robust demand for rentals.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.