Location: Reynolds County, MO | Metro: Reynolds County, MO
| Unit Size | Monthly FMR |
|---|---|
| Studio | $730 |
| 1 Bedroom | $810 |
| 2 Bedrooms | $990 |
| 3 Bedrooms | $1,190 |
| 4 Bedrooms | $1,410 |
| 5 Bedrooms | $1,636 |
| 6 Bedrooms | $1,832 |
| 7 Bedrooms | $1,979 |
| 8 Bedrooms | $2,078 |
U.S. Census Bureau data (2024)
The situation in ZIP code 63665 presents unique challenges and opportunities for both renters and landlords alike. Given the median income of $28,438, it becomes evident that the local market rate rent, which is currently not available, likely exceeds what many households can comfortably afford.
In contrast, the Section 8 voucher payment standard for Fair Market Rent (FMR) is set at $910 per month for the metro area in fiscal year 2026. This figure represents a significant benchmark for affordability in the region, especially considering the limited financial resources of most residents.
The ZIP code has a relatively low rental occupancy rate of 11.5%, with a total population of 313. This suggests a smaller pool of potential tenants, which could intensify competition among landlords. The affordability gap means that landlords who rely solely on market-rate rents may struggle to attract and retain tenants, particularly if they cannot offer competitive pricing or benefits.
For landlords evaluating their strategy between accepting vouchers versus seeking cash-paying tenants, the data points to a clear advantage in diversifying their tenant mix. By accepting vouchers, landlords can tap into a more stable source of rental income, given the government backing of these payments. Moreover, focusing on voucher tenants can mitigate the risk associated with the high vacancy rates and the financial constraints of local residents.
The takeaway for landlords is that embracing a mixed approach, where both voucher and cash-paying tenants are considered, can be a prudent move. It ensures a broader appeal and potentially steadier occupancy levels. Landlords should also consider the long-term benefits of working with housing authorities and the security of rental payments when deciding their tenant acquisition strategy.
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.