Location: Macon County, MO | Metro: Macon 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 | $920 |
| 1 Bedroom | $960 |
| 2 Bedrooms | $1,250 |
| 3 Bedrooms | $1,500 |
| 4 Bedrooms | $1,830 |
| 5 Bedrooms | $2,123 |
| 6 Bedrooms | $2,378 |
| 7 Bedrooms | $2,568 |
| 8 Bedrooms | $2,696 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,250 | $122,771 | 1.02% | B |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) of $1,020 for the metro area in fiscal year 2026 will likely cover the mortgage on a $150,635 home. Assuming a typical interest rate of around 5%, the monthly mortgage payment on such a home would be approximately $830, leaving a buffer of nearly $200 between the FMR and the mortgage payment.
Regarding renter demand, the 21.4% rental rate in ZIP 63532 indicates that a significant portion of the population does indeed rent. However, this percentage is relatively low compared to national averages, which can range from 30% to 40%. While it suggests a smaller pool of potential tenants, it also means less competition among landlords, potentially leading to higher occupancy rates.
The current market rent of $683 is notably lower than the FMR of $1,020. Vouchers issued under the Section 8 program typically align closer to the FMR. Therefore, landlords accepting vouchers should expect to receive closer to $1,020 per month rather than the current market rent. This can provide a stable income source, especially when market rents fluctuate.
However, it's important to note that while these figures are promising, they do not guarantee profitability. The local economy, job market, and other factors can influence the actual demand and the ability to maintain occupancy rates. Additionally, the long-term trend of voucher amounts versus market rents needs to be monitored to ensure sustained financial viability.
In summary, ZIP 63532 presents an opportunity for landlords and small-portfolio investors, particularly those willing to accept Section 8 vouchers. The data suggests that FMRs can adequately cover mortgage payments, and the voucher system can offer a reliable income stream despite the lower rental rate.
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.