Location: Shannon County, MO | Metro: Dent 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 | $720 |
| 1 Bedroom | $750 |
| 2 Bedrooms | $990 |
| 3 Bedrooms | $1,180 |
| 4 Bedrooms | $1,420 |
| 5 Bedrooms | $1,647 |
| 6 Bedrooms | $1,845 |
| 7 Bedrooms | $1,993 |
| 8 Bedrooms | $2,093 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,180 | $184,472 | 0.64% | D |
U.S. Census Bureau data (2024)
The ZIP code 63629 presents an interesting case for landlords and small-portfolio investors looking to understand the dynamics of the Section 8 tenant pool. With a population of 947, it's a relatively small area, but the 9.9% of residents who are renters indicates a modest but present rental market. The median household income in this ZIP is $47,049, which provides a baseline for assessing the affordability of housing.
A typical market rent of $480 in ZIP 63629 consumes approximately 10.2% of the median household income. This figure suggests that rent is reasonably affordable for most residents, even those on the lower end of the income spectrum. However, comparing this to the Fair Market Rent (FMR) of $910, as set for FY 2026 in the metro area, reveals a significant gap. The FMR is nearly double the current market rent, indicating that there is substantial demand for rental units that fall below the FMR threshold, particularly among low-income families eligible for Section 8 vouchers.
In ZIP 63629, landlords can expect tenants who rely heavily on government assistance to cover their housing costs. Given the income levels and the disparity between market rent and FMR, these tenants will likely be individuals and families whose total income does not exceed 50% of the area median income (AMI), making them eligible for Section 8 vouchers. The voucher demand in this area is deep, reflecting the economic realities faced by many residents.
To summarize, ZIP 63629 is not dominated by homeowners, but rather has a small yet significant portion of renters. Landlords should anticipate a high proportion of Section 8 voucher holders among potential tenants. These tenants will be largely dependent on subsidies to afford the typical $480 rent, which represents a manageable percentage of the median income in the area.
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.