Location: Shelby County, MO | Metro: Macon County, MO
| Unit Size | Monthly FMR |
|---|---|
| Studio | $750 |
| 1 Bedroom | $810 |
| 2 Bedrooms | $1,020 |
| 3 Bedrooms | $1,350 |
| 4 Bedrooms | $1,620 |
| 5 Bedrooms | $1,879 |
| 6 Bedrooms | $2,104 |
| 7 Bedrooms | $2,272 |
| 8 Bedrooms | $2,386 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 63451 in metro FY 2026 is set at $1,130. This figure represents the payment standard, which is the amount that the government will pay to cover a tenant's rent under the Section 8 program. It is important to note that this does not necessarily reflect the actual rent you can charge, but rather the maximum subsidy the government will provide.
Local market rents for ZIP 63451 are currently N/A, indicating that there is no specific data available on typical rent prices in this area. However, given that 9.2% of the population are renters, there is a consistent demand for rental properties. This percentage suggests that nearly one out of every ten residents in the area are looking for places to rent, making it a viable market for new landlords.
The median home value in this ZIP code is approximately $321,099. This number gives you an idea of the average cost to acquire a property in the area. If you are considering purchasing a property specifically for a Section 8 rental, you should ensure that the potential income from the Section 8 program aligns with your investment goals and the costs associated with maintaining and managing the property.
To make an informed decision about entering the Section 8 rental market in ZIP 63451, you must verify the rent reasonableness. This means confirming that the rent you plan to charge is reasonable compared to similar non-subsidized units in the area. This step is crucial because the housing authority will use this information to determine if the rent you're asking is fair and justifiable.
Data Sources: FMR data from HUD (2027). 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.