Location: Gentry County, MO | Metro: St. Joseph, MO-KS 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 | $740 |
| 1 Bedroom | $770 |
| 2 Bedrooms | $1,000 |
| 3 Bedrooms | $1,380 |
| 4 Bedrooms | $1,660 |
| 5 Bedrooms | $1,926 |
| 6 Bedrooms | $2,157 |
| 7 Bedrooms | $2,330 |
| 8 Bedrooms | $2,447 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,000 | $110,702 | 0.9% | C |
| 3BR | $1,380 | $182,871 | 0.75% | D |
U.S. Census Bureau data (2024)
The median income in ZIP 64463, King City, MO, stands at $59,219. Against this backdrop, the market rent of $729 per month poses a significant challenge for households. To put this into perspective, the median income equates to roughly $4,935 per month. Thus, the market rent represents approximately 14.8% of the monthly income, which is a substantial portion.
When considering the Housing Choice Voucher Program, the Fair Market Rent (FMR) for ZIP 64463 in fiscal year 2024 is set at $880. This means that landlords accepting vouchers would receive a higher rent payment compared to the market rate of $729. However, the gap between the FMR and the market rate highlights a financial strain on renters who must pay out-of-pocket without assistance.
In King City, with a population of 1,349 and 26.9% of residents being renters, the competition among landlords is relatively low. The affordability gap, therefore, is a critical factor influencing tenant decisions. Renters are likely to prioritize cost-effective housing options, which could make properties that offer lower rents more appealing.
For landlords weighing voucher versus cash-pay strategies, the data suggests that accepting vouchers can provide a more stable income source due to the higher guaranteed rent payment. However, the limited number of renters and their income constraints imply that there might be fewer voucher holders available. Landlords should consider balancing the benefits of voucher stability against the potential for higher occupancy rates with lower, market-based rents.
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.