Location: Washington County, MO | Metro: Washington 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 | $900 |
| 2 Bedrooms | $980 |
| 3 Bedrooms | $1,170 |
| 4 Bedrooms | $1,540 |
| 5 Bedrooms | $1,786 |
| 6 Bedrooms | $2,000 |
| 7 Bedrooms | $2,160 |
| 8 Bedrooms | $2,268 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,170 | $203,080 | 0.58% | F |
U.S. Census Bureau data (2024)
The median income in ZIP code 63664 stands at $61,216, which is notably lower than the market rate for rent, currently set at $676 per month according to Census ACS data. This discrepancy suggests that many households in this area struggle to cover their housing costs without financial assistance.
When considering the Federal Market Rent (FMR) standard for voucher payments, which is $890 per month for the fiscal year 2026, it becomes evident that the gap between what renters can afford and the actual cost of housing is significant. The FMR exceeds both the median income and the market rate, indicating that voucher holders have a higher budget for housing than the average renter in this ZIP code.
In ZIP 63664, where 26.8% of the 9,693 residents are renters, the affordability issue poses a challenge for landlords. With a substantial portion of the population relying on lower incomes, the competition for tenants who can pay the market rate without subsidies might be fierce. Landlords may find themselves with fewer options for cash-paying tenants and thus more reliant on those with rental vouchers.
The takeaway for landlords is clear: focusing on accepting rental vouchers could provide a stable tenant base given the income levels and the number of residents seeking affordable housing. While the FMR payment is higher than the current market rate, it ensures consistent rental income and reduces the risk of vacancies due to affordability issues.
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.