Location: Stoddard County, MO | Metro: Stoddard County, MO
| Unit Size | Monthly FMR |
|---|---|
| Studio | $670 |
| 1 Bedroom | $740 |
| 2 Bedrooms | $960 |
| 3 Bedrooms | $1,280 |
| 4 Bedrooms | $1,290 |
| 5 Bedrooms | $1,496 |
| 6 Bedrooms | $1,676 |
| 7 Bedrooms | $1,810 |
| 8 Bedrooms | $1,901 |
The Fair Market Rent (FMR) for ZIP code 63738 is set at $890 for the metro area fiscal year 2026. This figure represents the payment standard under the Section 8 housing choice voucher program, meaning it's the maximum amount the government will pay toward rent for a unit in this area. It's important to note that this does not necessarily reflect the actual rent you can charge tenants; rather, it caps the subsidy portion.
In ZIP 63738, there is currently no specific local rent data available, which means the $890 FMR serves as the benchmark for all rental units within this zip code. The lack of local data suggests that the regional average is used, indicating that the market in this area closely aligns with broader trends.
The percentage of renters in the area is also listed as N/A, which implies a significant demand for rental properties. Without precise figures, it's reasonable to infer that a substantial portion of residents are likely renting, making it a viable market for Section 8 rentals.
When acquiring a property for your first Section 8 rental, the cost of purchase or investment should be considered. The median home value in ZIP 63738 is listed as N/A, which indicates the typical price range for homes in this area. This figure helps in understanding the potential acquisition costs and the competition in the real estate market.
Before finalizing your decision to enter the Section 8 rental market in ZIP 63738, ensure that your property meets all the necessary quality standards set by the Housing Quality Standards (HQS) guidelines. This verification is crucial as it directly impacts whether your property can be approved for the program, thereby securing a steady stream of income from the housing vouchers.
To summarize, the FMR of $890 sets the subsidy limit, not your rent, and with a significant demand for rentals and typical home values, ZIP 63738 presents an opportunity for landlords and small-portfolio investors. However, compliance with HQS is non-negotiable and must be confirmed prior to any investment.
Data Sources: FMR data from HUD (2027).
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.