Location: Linn County, MO | Metro: Linn County, MO
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 | $860 |
| 1 Bedroom | $890 |
| 2 Bedrooms | $1,170 |
| 3 Bedrooms | $1,390 |
| 4 Bedrooms | $1,540 |
| 5 Bedrooms | $1,786 |
| 6 Bedrooms | $2,000 |
| 7 Bedrooms | $2,160 |
| 8 Bedrooms | $2,268 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,390 | $201,553 | 0.69% | D |
U.S. Census Bureau data (2024)
The ZIP code 64651 stands out due to its unique combination of demographic and economic characteristics. With only 461 residents, it has a notably low population density. However, 21.3% of these residents are renters, indicating a significant portion of the housing market dedicated to rental properties. The median income in this area is $72,321, which is relatively high, suggesting that residents have above-average earning power. Despite this, the median home value is $180,105, which is lower compared to some surrounding areas, making homeownership more accessible.
When it comes to Section 8 vouchers, the Fair Market Rent (FMR) for the metro area for fiscal year 2026 is set at $1,090. This figure is substantially higher than the actual market rent of $372, based on Census ACS data. Landlords and small-portfolio investors should be aware that this discrepancy presents an opportunity to increase rental income by accepting Section 8 vouchers, as they can potentially charge closer to the FMR rate.
The data signature for ZIP 64651 reads as stable. There are no immediate signs of significant changes in population or economic trends that would suggest a transitional phase. The relatively high median income coupled with a manageable median home value indicates a balanced local economy where residents can afford housing without excessive strain. This stability is further supported by the consistent demand for rental properties, which is reflected in the percentage of renters and the potential for Section 8 vouchers to bolster rental incomes.
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.