Section 8 Fair Market Rent (FMR) for ZIP 63468 - 2027

Location: Shelby County, MO | Metro: Monroe County, MO

Investment Score for ZIP 63468

Monthly Rent (2BR)

$1,050

Median Price (2BR)

$111,965

1% Rule

0.94%

Annual Yield

11.25%

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$770
1 Bedroom	$820
2 Bedrooms	$1,050
3 Bedrooms	$1,430
4 Bedrooms	$1,690
5 Bedrooms	$1,960
6 Bedrooms	$2,195
7 Bedrooms	$2,371
8 Bedrooms	$2,490

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
2BR	$1,050	$111,965	0.94%	C
3BR	$1,430	$168,017	0.85%	C

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

2,314

Median Household Income

$45,882

Housing Units

1,173

Renter Percentage

19.0%

Occupancy Rate

83.5%

Renter Occupied

186

The real estate market in ZIP code 63468, Shelbina, Missouri, presents a unique scenario for both landlords and small-portfolio investors. The median home value stands at $164,475, indicating a relatively stable housing market. However, the absence of percentage data on listings that have been reduced and the lack of median days on market (DOM) figures suggest a limited volatility in the market. This combination signals a cautious approach to pricing power over the next 12-24 months.

On the rental side, the Fair Market Rent (FMR) for the metro area in fiscal year 2026 is projected to be $980, while the current market rent sits at $729 according to the Census ACS. This gap suggests potential growth in rental income for properties in Shelbina, particularly if they can attract tenants willing to pay closer to the FMR. For long-term investors, the realistic appreciation thesis is tied to the broader economic conditions and the demand for rental properties in the area.

Investors should consider the following:

Economic Stability: The median home value indicates a moderate price point, which could appeal to a wide range of buyers. This stability might translate into steady rental demand, supporting consistent cash flow.
Rental Income Potential: With the current market rent below the projected FMR, there is room for increasing rents to match future market rates, providing an opportunity for higher returns on investment.
Limited Volatility: The absence of significant listing reductions and a stable DOM suggest a market that is unlikely to experience rapid appreciation or depreciation. This could be advantageous for those seeking long-term, low-risk investments.

The setup implied by the data points towards a market where maintaining property values and gradually adjusting rents to align with future projections would be a prudent strategy. Long-term investors in Shelbina should focus on the potential for rental income growth rather than speculative capital gains.

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.