Section 8 Fair Market Rent (FMR) for ZIP 63755 - 2027

Location: Cape Girardeau, MO | Metro: Cape Girardeau, MO-IL MSA

Investment Score for ZIP 63755

Monthly Rent (2BR)

$1,140

Median Price (2BR)

$181,946

1% Rule

0.63%

Annual Yield

7.52%

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	$850
1 Bedroom	$940
2 Bedrooms	$1,140
3 Bedrooms	$1,580
4 Bedrooms	$1,910
5 Bedrooms	$2,216
6 Bedrooms	$2,482
7 Bedrooms	$2,681
8 Bedrooms	$2,815

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	$1,140	$181,946	0.63%	D
3BR	$1,580	$274,277	0.58%	F
4BR	$1,910	$342,985	0.56%	F
5BR	$2,216	$468,863	0.47%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

27,629

Median Household Income

$78,750

Housing Units

10,846

Renter Percentage

22.3%

Occupancy Rate

96.3%

Renter Occupied

2,335

The Jackson, Missouri area, represented by ZIP code 63755, is a modest suburban community with a strong foundation in rental housing. This region offers a balanced mix of residential properties, catering to both homeowners and renters. For investors interested in the Section 8 housing market, understanding the local rental dynamics is crucial.

Fair Market Rent (FMR): The FMR for ZIP 63755 for fiscal year 2024 is set at $1060, indicating the maximum amount that a Section 8 voucher holder can pay for a rental unit.
Market Rent (ZORI): The actual market rent, known as the Zillow Observed Rent Index (ZORI), stands at $914, suggesting that there is a gap between the FMR and what the market currently demands.
Median Home Value: The median home value in the area is $269,367, which reflects the typical cost of purchasing a property in this ZIP code.
Renter Share: With a 22.3% renter share, it's evident that nearly one-quarter of the population opts for renting over owning.
Days on Market (DOM): Properties typically spend 26 days on the market before being rented, which is a relatively short period and suggests a healthy demand for rental units.
Median Income: The median household income in ZIP 63755 is $78,750, providing insight into the financial stability and potential earning power of the residents.

Given the data points above, investors in Jackson, Missouri should be aware of the favorable conditions for rental properties. The gap between the FMR and ZORI indicates that there is room for landlords to negotiate higher rents while still being covered by Section 8 vouchers. A shorter DOM of 26 days signals a robust rental market, making it easier for landlords to find tenants. Additionally, the median income figure suggests that residents have sufficient means to afford higher rents, which could translate into better returns for investors. However, the 22.3% renter share implies that the majority of the population prefers homeownership, so targeting the right demographic will be key to success in this market.

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.