Location: Daviess County, MO | Metro: Kansas City, MO-KS HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $910 |
| 1 Bedroom | $980 |
| 2 Bedrooms | $1,130 |
| 3 Bedrooms | $1,470 |
| 4 Bedrooms | $1,750 |
| 5 Bedrooms | $2,030 |
| 6 Bedrooms | $2,274 |
| 7 Bedrooms | $2,456 |
| 8 Bedrooms | $2,579 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 64649 in fiscal year 2024 is set at $1050. This figure represents the payment standard for Section 8 vouchers in your area, meaning that if you participate in the program, this is the maximum amount the Housing Authority will pay towards the rent on behalf of the tenant. It's important to note that this does not necessarily reflect the actual rent you can charge; it's the benchmark used to determine the subsidy.
Local market rents are currently N/A, which makes comparing them directly to the FMR challenging. However, the FMR serves as a useful guideline for setting reasonable rent prices that align with government subsidies.
The demand for affordable housing in your area is significant, given that the typical renter spends 15.5% of their income on housing. This indicates a strong need for affordable rental options, suggesting that there could be a steady stream of potential tenants interested in your property through the Section 8 program.
If you're looking to acquire a property in ZIP 64649 for use in the Section 8 program, the average price is around $307,812. This is the total investment you would make to purchase a property, which you should consider alongside the ongoing rental income and any maintenance costs.
Before proceeding with a Section 8 rental, ensure that the property meets all the necessary requirements for the Housing Choice Voucher Program. Specifically, you must verify that your property passes the inspection criteria set by the local Housing Authority. This includes meeting safety and health standards, ensuring that the unit is in good repair, and that it is not overcrowded. This step is crucial as it determines whether your property is eligible for the program and ensures compliance with federal regulations.
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.