Location: Iron County, MO | Metro: Iron 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 | $790 |
| 1 Bedroom | $980 |
| 2 Bedrooms | $1,070 |
| 3 Bedrooms | $1,320 |
| 4 Bedrooms | $1,640 |
| 5 Bedrooms | $1,902 |
| 6 Bedrooms | $2,130 |
| 7 Bedrooms | $2,300 |
| 8 Bedrooms | $2,415 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,070 | $143,515 | 0.75% | D |
| 3BR | $1,320 | $222,500 | 0.59% | F |
U.S. Census Bureau data (2024)
To determine if a landlord should buy in ZIP 63623 (Bellevue, MO) for Section 8 investments, follow this decision tree:
Step 1: Debt Service Coverage Ratio (DSCR)
The Fair Market Rent (FMR) for the metro area in fiscal year 2026 is $950. To calculate if this clears the debt service on a property valued at $191,375, you must first know the annual debt service amount. If the annual debt service is less than $11,400 ($950 x 12), then the answer is yes; the FMR clears the debt service. Otherwise, the answer is no.
Step 2: Market Rent vs. FMR
The average market rent in Bellevue, MO, according to the Census ACS, is $809. This is below the FMR of $950. If the market rent is consistently below the FMR, landlords can expect to receive higher rental payments from Section 8 tenants, making it a favorable investment. However, if market rents are expected to rise above the FMR, it would be less beneficial as the rent ceiling would limit potential income.
Step 3: Rental Demand
In Bellevue, 26.7% of residents are renters. The data does not provide the days on market (DOM) for properties, which is typically an indicator of how quickly properties are rented out. If the rental demand is strong, indicated by low DOM values, then the high percentage of renters suggests sufficient demand. However, without DOM data, it's difficult to assess the speed at which properties are leased. Therefore, the answer here is that it depends on other factors such as the local vacancy rate and economic conditions.
Decision Tree Summary:
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.