Location: Perry County, MO | Metro: Cape Girardeau, MO-IL MSA
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 | $770 |
| 1 Bedroom | $960 |
| 2 Bedrooms | $1,050 |
| 3 Bedrooms | $1,370 |
| 4 Bedrooms | $1,500 |
| 5 Bedrooms | $1,740 |
| 6 Bedrooms | $1,949 |
| 7 Bedrooms | $2,105 |
| 8 Bedrooms | $2,210 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $960 | $157,056 | 0.61% | D |
| 2BR | $1,050 | $179,804 | 0.58% | F |
| 3BR | $1,370 | $252,671 | 0.54% | F |
| 4BR | $1,500 | $238,353 | 0.63% | D |
| 5BR | $1,740 | $296,364 | 0.59% | F |
U.S. Census Bureau data (2024)
With a Fair Market Rent (FMR) of $900 for zip code 63775 in Perryville, MO, for fiscal year 2024, landlords can expect to align their rental prices with the government's standards for affordability. The Census American Community Survey reports a market rent of $932, indicating that properties priced slightly above the FMR can still attract tenants willing to pay a premium. The median home value stands at $222,020, making it an attractive area for investment due to its relatively low entry cost compared to larger metropolitan areas. With 25.7% of residents being renters, there is a notable demand for rental properties, suggesting a stable tenant pool. The median income of $63,712 supports the ability of local residents to afford rents around the FMR, ensuring a steady stream of potential tenants who can meet financial obligations.
The lack of data on days on market (DOM) suggests that property listings in Perryville move quickly once they are made available, which could be due to the strong rental demand and reasonable pricing. The price-cut share of 0.1% indicates that very few properties need to be discounted to find tenants, a positive sign for landlords looking to maintain their asking prices. These factors combined point towards a robust rental market where landlords can expect to fill vacancies without significant concessions or prolonged vacancy periods.
Given these figures, the Section 8 program, which provides rental assistance to eligible low-income families, presents a viable option for landlords in Perryville. The FMR aligns closely with the market rent, and the median income figure suggests that many residents qualify for the program. Landlords can benefit from a guaranteed rent payment and a reduced risk of non-payment, while still maintaining competitive rates in the local market. Therefore, participating in Section 8 can be a strategic move for landlords and small-portfolio investors looking to capitalize on the stable rental environment in Perryville, MO.
Verdict: Section 8 is a reliable and profitable option for landlords in Perryville, MO.
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.