Location: Ripley County, MO | Metro: Carter County, MO
| Unit Size | Monthly FMR |
|---|---|
| Studio | $720 |
| 1 Bedroom | $780 |
| 2 Bedrooms | $980 |
| 3 Bedrooms | $1,240 |
| 4 Bedrooms | $1,490 |
| 5 Bedrooms | $1,728 |
| 6 Bedrooms | $1,935 |
| 7 Bedrooms | $2,090 |
| 8 Bedrooms | $2,195 |
U.S. Census Bureau data (2024)
23.5% of residents in ZIP code 63943 are renters, indicating a significant demand for rental properties in the area. The Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $1,040, which represents the upper limit for Section 8 housing payments. This figure is notably higher than the average market rent of $528, as reported by the Census ACS, suggesting that Section 8 vouchers can cover a substantial portion of rental costs for landlords. With a median income of $40,152, tenants in this ZIP code may find it challenging to afford market rates without assistance, making Section 8 a viable option for both landlords and tenants. The discrepancy between the FMR and market rent highlights an opportunity for landlords to secure stable tenancy while ensuring their properties are rented at or near fair market values. However, the lack of data on days on market (DOM) and the percentage of price-cut shares means there is limited insight into how quickly properties are rented and the frequency of price reductions. Despite these gaps, the alignment of Section 8 payment standards with local rental prices supports the conclusion that participating in the Section 8 program can be financially beneficial for landlords in ZIP 63943.
Verdict: Participation in the Section 8 program is recommended for landlords in ZIP 63943 due to the favorable alignment between FMR and market rents.
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.