Location: Scott County, MO | Metro: Scott County, MO
| Unit Size | Monthly FMR |
|---|---|
| Studio | $710 |
| 1 Bedroom | $740 |
| 2 Bedrooms | $960 |
| 3 Bedrooms | $1,160 |
| 4 Bedrooms | $1,290 |
| 5 Bedrooms | $1,496 |
| 6 Bedrooms | $1,676 |
| 7 Bedrooms | $1,810 |
| 8 Bedrooms | $1,901 |
U.S. Census Bureau data (2024)
The economics of Section 8 housing in ZIP code 63767 are straightforward. For a two-bedroom apartment, the SAFMR (Small Area Fair Market Rent) is set at $890 for fiscal year 2026. This is the maximum amount that a landlord can receive from the government for a Section 8 voucher holder living in their property. However, it's important to understand that this payment isn't the full rent; it's adjusted based on the tenant's income and local market conditions.
The local market rent for a two-bedroom unit in ZIP 63767 is reported at $825 according to the Census ACS (American Community Survey) data. This figure represents the average rent charged for similar units in the area. When a tenant has a Section 8 voucher, they are responsible for paying 30% of their adjusted monthly income towards rent. This amount, plus any utility allowances, will be deducted from the $890 SAFMR before it reaches the landlord.
To illustrate, let's assume a tenant's adjusted monthly income is $1,600. Thirty percent of this income would be $480, which is the amount the tenant must contribute toward rent. If the utility allowance is $100, then the total amount contributed by the tenant and the utility allowance would be $580. Subtracting this from the SAFMR of $890 leaves $310 to be paid by the government. Thus, the landlord would receive a total of $890 per month for the two-bedroom unit.
In ZIP 63767, where the market rent is $825, the SAFMR of $890 provides a surplus for landlords. In this case, the surplus is $65 per month. This means that even if the market rent is lower, landlords participating in the Section 8 program can expect to receive slightly more than the local market rate, ensuring that they do not lose money due to the participation in the program.
It's crucial for landlords to remember that while the SAFMR sets the upper limit for government payments, the actual reimbursement can vary based on the tenant's income and the specific terms of their voucher. Nevertheless, in ZIP 63767, the economics lean favorably towards landlords, providing a slight buffer above the typical market rent.
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.