Section 8 Fair Market Rent (FMR) for ZIP 63653 - 2027

Location: St. Francois County, MO | Metro: St. Francois County, MO

Investment Score for ZIP 63653

Monthly Rent (2BR)

$1,060

Median Price (2BR)

$79,862

1% Rule

1.33%

Annual Yield

15.93%

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	$800
1 Bedroom	$810
2 Bedrooms	$1,060
3 Bedrooms	$1,280
4 Bedrooms	$1,390
5 Bedrooms	$1,612
6 Bedrooms	$1,805
7 Bedrooms	$1,949
8 Bedrooms	$2,046

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	$1,060	$79,862	1.33%	A
3BR	$1,280	$111,064	1.15%	B

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

1,186

Median Household Income

$38,021

Housing Units

534

Renter Percentage

30.8%

Occupancy Rate

75.5%

Renter Occupied

124

The ZIP code 63653, encompassing Leadwood, Missouri, presents a unique market opportunity for landlords and small-portfolio investors looking to capitalize on a stable but modest rental environment. Nestled in the Ozark Mountains, Leadwood offers a tranquil setting with a strong sense of community, which can be a significant draw for potential tenants.

The Fair Market Rent (FMR) for a two-bedroom apartment in the metro area for fiscal year 2026 is set at $960.
The average market rent for the same type of unit, according to the Census American Community Survey (ACS), stands at $896.
The median home value in the area is $85,797, indicating a relatively affordable housing market.
Renters make up 30.8% of the population, suggesting a moderate demand for rental properties.
The median household income is $38,021, providing insight into the economic profile of potential tenants.

The data points indicate that while the rental market in Leadwood is not particularly high-yielding, it offers a predictable and stable investment environment. The gap between the Fair Market Rent and the actual market rent suggests there is room for modest price increases without alienating the local tenant base. With a median home value below $90,000, the area is attractive for first-time buyers and investors alike. However, the renter share being just over 30% implies that the market may be somewhat limited, and investors should focus on properties that offer value propositions to this demographic. Given the median income level, properties priced around the market rent of $896 will likely appeal to the majority of residents. Overall, Leadwood provides a niche investment opportunity for those who can offer well-maintained, affordable rental units in a serene and close-knit community setting.

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.