Location: New Madrid County, MO | Metro: New Madrid County, MO
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 | $710 |
| 1 Bedroom | $740 |
| 2 Bedrooms | $960 |
| 3 Bedrooms | $1,180 |
| 4 Bedrooms | $1,260 |
| 5 Bedrooms | $1,462 |
| 6 Bedrooms | $1,637 |
| 7 Bedrooms | $1,768 |
| 8 Bedrooms | $1,856 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,180 | $88,047 | 1.34% | A |
U.S. Census Bureau data (2024)
The ZIP code 63868 is predominantly a renter-heavy area with significant potential for Section 8 tenants. With a population of 653, nearly 45% of residents are renters, indicating a robust demand for rental housing. The median household income stands at $32,254, which directly correlates to the affordability of market rents.
A typical market rent of $525 consumes approximately 16% of the median household income, making it a manageable expense for most renters in the area. However, when compared to the Fair Market Rent (FMR) of $890, as set for FY 2026 in the metro area, the discrepancy highlights the financial strain many residents face. This suggests that the majority of renters in ZIP 63868 would benefit from and likely seek out Section 8 vouchers to subsidize their housing costs.
The high percentage of renters and low median income points to a deep voucher demand in the area. Landlords can expect a significant portion of their inquiries to come from individuals seeking assistance through the Section 8 program. These tenants will be financially responsible, as the program requires regular income verification and ensures timely rent payments.
To summarize, ZIP 63868 is well-suited for landlords willing to accept Section 8 tenants. The area's demographics and economic conditions align closely with the benefits offered by the voucher system, ensuring a stable tenant pool that can afford the current market rents without overextending their budget.
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.