Location: Harrison County, MO | Metro: Harrison County, MO
| Unit Size | Monthly FMR |
|---|---|
| Studio | $800 |
| 1 Bedroom | $830 |
| 2 Bedrooms | $1,090 |
| 3 Bedrooms | $1,410 |
| 4 Bedrooms | $1,430 |
| 5 Bedrooms | $1,659 |
| 6 Bedrooms | $1,858 |
| 7 Bedrooms | $2,007 |
| 8 Bedrooms | $2,107 |
U.S. Census Bureau data (2024)
The economics of Section 8 in ZIP code 64426 are governed by the SAFMR (Small Area Fair Market Rent) which is set specifically for this ZIP code. For a two-bedroom apartment, the SAFMR for fiscal year 2026 is $1,010. This figure represents the maximum amount that a Section 8 housing voucher will cover for rent in this area.
In contrast, the local market rent for a two-bedroom unit, based on Census ACS data, is $785. This indicates that the SAFMR is higher than the average market rent, which can be advantageous for landlords who are willing to accept Section 8 vouchers.
A Section 8 voucher is designed to help low-income families afford decent rental housing in the private market. The voucher pays the difference between what the family can afford and the rent charged. Typically, the tenant's portion of the rent is around 30% of their monthly adjusted income. If the family's adjusted income is $1,000, then their portion would be approximately $300. The remaining balance up to the SAFMR is covered by the voucher.
Additionally, Section 8 vouchers include utility allowances. These allowances vary but generally range from $200 to $300 per month, depending on the number of bedrooms and local energy costs. In ZIP 64426, the allowance would be added to the $1,010 SAFMR, making the total potential reimbursement slightly higher if utilities are included in the rent.
For example, if the utility allowance is $250, the total reimbursement could be $1,260 ($1,010 for rent plus $250 for utilities). However, landlords should note that the utility allowance is only paid if utilities are included in the rent. Otherwise, it is paid directly to the tenant.
Given these parameters, landlords in ZIP 64426 can expect a typical reimbursement of $1,010 for rent without utilities. If the tenant's portion is $300 and utilities are included, the landlord might receive a total of $1,260 per month. This leaves a surplus of $275 above the local market rent of $785 when utilities are included in the rent.
However, if utilities are not included, the landlord would receive just the $1,010 for rent, resulting in a surplus of $225 over the local market rent. This surplus compensates landlords for the administrative burden and ensures that they are not left with a financial gap when renting to tenants with Section 8 vouchers.
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.