Section 8 Fair Market Rent (FMR) for ZIP 63548 - 2027

Location: Schuyler County, MO | Metro: Schuyler County, MO

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$790
1 Bedroom	$860
2 Bedrooms	$1,110
3 Bedrooms	$1,340
4 Bedrooms	$1,510
5 Bedrooms	$1,752
6 Bedrooms	$1,962
7 Bedrooms	$2,119
8 Bedrooms	$2,225

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

1,154

Median Household Income

$66,625

Housing Units

497

Renter Percentage

19.5%

Occupancy Rate

74.2%

Renter Occupied

The median income in ZIP code 63548 stands at $66,625, which places significant constraints on what a typical household can afford for housing. The market rate rental price of $349 (as per Census ACS data) is far below the federal payment standard of $970 for Section 8 vouchers in the metro area for fiscal year 2026. This means that a household earning the median income would likely find it challenging to pay the higher voucher rate without assistance.

To put this into perspective, consider the following:

A household with the median income of $66,625 would typically allocate around 30% of their income towards housing costs, which equates to approximately $1,665 per month.
The market rate of $349 is a fraction of this amount, indicating that most renters in this ZIP code could afford market-rate rents without any financial strain.
However, the $970 voucher payment standard is significantly higher than the market rate, making it more attractive for those who qualify for assistance but potentially less feasible for others.

The ZIP code has a relatively low percentage of renters at 19.5%, with a total population of 1,154. This suggests that competition among landlords for tenants might be moderate. However, the disparity between the market rate and the voucher payment standard presents a strategic decision point for landlords. They must decide whether to focus on attracting voucher holders, who can pay up to $970 per month, or on securing cash-paying tenants who can afford only the market rate of $349.

Takeaway for Landlords: Given the median income and the current market rate, landlords should consider the potential benefits of accepting Section 8 vouchers. While the higher payment standard of $970 is attractive, they should also weigh the administrative burden and demand for such units. In ZIP 63548, where the market rate is substantially lower, landlords who can accommodate voucher tenants will likely have an edge in a competitive rental market.

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.