Section 8 Fair Market Rent (FMR) for ZIP 63459 - 2027

Location: Ralls County, MO | Metro: Pike County, MO

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$720
1 Bedroom	$750
2 Bedrooms	$980
3 Bedrooms	$1,230
4 Bedrooms	$1,470
5 Bedrooms	$1,705
6 Bedrooms	$1,910
7 Bedrooms	$2,063
8 Bedrooms	$2,166

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

4,423

Median Household Income

$67,778

Housing Units

1,797

Renter Percentage

13.7%

Occupancy Rate

89.3%

Renter Occupied

219

Housing Authorities Serving ZIP 63459

LINCOLN COUNTY PUBLIC HOUSING AGENCY (Bowling Green, MO) - 2,304 Section 8 vouchers
Housing Authority of the City of Bowling Green (Bowling Green, MO)

New London, Missouri, located in ZIP code 63459, is a small community situated in the heart of the Show-Me State. This area offers a unique blend of rural charm and accessibility to urban amenities, making it an interesting market for real estate investors.

The Fair Market Rent (FMR) for the metro area for fiscal year 2026 is set at $890, indicating the rental rates that can be expected to cover the cost of housing without being considered excessive.
The actual market rent based on the latest Census American Community Survey (ACS) data stands at $820, suggesting that the current rental prices are slightly below the FMR, which could present opportunities for landlords to increase their rents gradually.
The median home value in New London is $276,290, reflecting the typical price range for homeownership in the area.
Renters make up 13.7% of the local population, a figure that suggests a moderate demand for rental properties but also indicates that a majority of residents prefer owning their homes.
The median household income in the area is $67,778, providing insight into the financial stability of potential tenants and buyers.
Unfortunately, the exact number of days on the market (DOM) for rental properties is not available, which means investors must rely on other metrics to gauge the speed of property turnover.

Investors considering the New London market should note the discrepancy between the FMR and the actual market rent, indicating potential for modest rent increases. The relatively low renter share suggests that while there is a steady demand for rentals, the market may be more suited to those interested in home ownership. With a median income above the national average, tenants in New London are likely to have the financial capacity to meet higher rental costs. However, the lack of data on days on the market makes it challenging to predict how quickly properties will be occupied or sold, adding a layer of uncertainty to investment decisions.

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.