Section 8 Fair Market Rent (FMR) for ZIP 64601 - 2027

Location: Livingston County, MO | Metro: Daviess County, MO

Investment Score for ZIP 64601

Monthly Rent (2BR)

$970

Median Price (2BR)

$119,069

1% Rule

0.81%

Annual Yield

9.78%

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$710
1 Bedroom	$740
2 Bedrooms	$970
3 Bedrooms	$1,240
4 Bedrooms	$1,620
5 Bedrooms	$1,879
6 Bedrooms	$2,104
7 Bedrooms	$2,272
8 Bedrooms	$2,386

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
2BR	$970	$119,069	0.81%	C
3BR	$1,240	$196,259	0.63%	D
4BR	$1,620	$254,503	0.64%	D

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

12,189

Median Household Income

$63,061

Housing Units

5,247

Renter Percentage

29.3%

Occupancy Rate

89.3%

Renter Occupied

1,371

The ZIP code 64601, encompassing Chillicothe, Missouri, presents a stable market for real estate investment, particularly for those interested in the Section 8 housing program. The town's modest size and rural setting contribute to a predictable demand for affordable housing solutions.

The Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $900, indicating the maximum amount that can be charged for a Section 8 voucher in this region.
The average market rent for the area, according to the Census American Community Survey (ACS), is $769, which is below the FMR threshold, suggesting potential profitability for landlords who qualify for Section 8 tenants.
The median home value in ZIP 64601 is $185,470, reflecting the overall property value in the area but not directly influencing the rental market dynamics.
Renters make up 29.3% of the housing market in Chillicothe, indicating a significant portion of the population relies on rental properties, including those assisted by Section 8 vouchers.
The median household income in the area is $63,061, providing insight into the financial capabilities of potential residents and the viability of maintaining a steady tenant base.
Data on days on market (DOM) is currently unavailable, which could imply either a very active or a very stagnant market, making it necessary to gather more local intelligence before investing.

In summary, Chillicothe's rental market appears to offer a favorable environment for landlords and small-portfolio investors seeking Section 8 opportunities. With market rents below the FMR and a substantial share of renters, there is a clear demand for affordable housing. However, the lack of recent DOM data suggests a need for caution and further research to understand the current pace of the real estate transactions in the area. The median income provides a foundation for assessing the financial stability of potential tenants, ensuring a reliable stream of rental income.

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.