Location: St. Joseph, MO | Metro: Kansas City, MO-KS HUD Metro FMR Area
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 | $820 |
| 1 Bedroom | $850 |
| 2 Bedrooms | $1,050 |
| 3 Bedrooms | $1,350 |
| 4 Bedrooms | $1,580 |
| 5 Bedrooms | $1,833 |
| 6 Bedrooms | $2,053 |
| 7 Bedrooms | $2,217 |
| 8 Bedrooms | $2,328 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,350 | $279,046 | 0.48% | F |
U.S. Census Bureau data (2024)
The ZIP code 64490 stands out due to its unique demographic and economic characteristics. With a total population of 1,939 residents, only 11.6% are renters, indicating a predominantly owner-occupied area. The median income for households in this ZIP is $88,750, which is relatively high compared to national averages. Furthermore, the median home value is $267,439, suggesting that the area is composed of middle to upper-middle-class homeowners.
When it comes to the economics of Section 8 vouchers, the Fair Market Rent (FMR) for ZIP 64490 in fiscal year 2024 is set at $1,050. This figure is notably higher than the current market rent, which stands at $960 according to Census ACS data. This discrepancy means that landlords accepting Section 8 vouchers in this ZIP can potentially receive rents above the typical market rate, making it a financially attractive option.
The data signature for ZIP 64490 indicates a stable environment. The low rental rate suggests that the majority of residents own their homes, reducing the likelihood of sudden changes in the housing market. Additionally, the higher FMR compared to market rates provides a buffer against potential decreases in rental values, ensuring steady income for landlords who participate in the Section 8 program.
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.