Location: Lewis County, MO | Metro: Clark 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 | $670 |
| 1 Bedroom | $740 |
| 2 Bedrooms | $960 |
| 3 Bedrooms | $1,330 |
| 4 Bedrooms | $1,440 |
| 5 Bedrooms | $1,670 |
| 6 Bedrooms | $1,870 |
| 7 Bedrooms | $2,020 |
| 8 Bedrooms | $2,121 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,330 | $187,859 | 0.71% | D |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 63435 in the metro area for fiscal year 2026 is set at $890. This figure represents the payment standard for Section 8 housing vouchers, meaning that voucher holders can receive assistance up to this amount, but it does not necessarily reflect the actual rent you will charge. The local median rent, according to the Census American Community Survey, is $568. This lower figure indicates that the typical rent in your area is below the FMR, suggesting that voucher holders might have some additional funds to cover higher rents.
The FMR of $890 is significantly higher than the local median rent of $568, which means there could be a strong demand for Section 8 rentals in ZIP 63435. With a 25.7% share of renters in the area, nearly a quarter of residents are likely to be looking for affordable housing options. This percentage translates into a substantial number of potential tenants who would benefit from a Section 8 voucher, making it a viable market for landlords.
If you're considering acquiring a property in this area, the average home price is around $192,281. This cost should factor into your decision-making process, as it affects your initial investment and potential return on investment. Given the FMR and the local rent trends, a Section 8 rental property could provide steady, government-backed income, helping to offset the costs of ownership and maintenance.
Before proceeding with a Section 8 rental in ZIP 63435, ensure that your property meets all the necessary inspection criteria. The Housing Quality Standards (HQS) inspection is crucial; it must be passed for you to be eligible to participate in the program. This verification step is essential to avoid any delays in securing a tenant and receiving payments.
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.