Location: Putnam County, MO | Metro: Putnam County, MO
| Unit Size | Monthly FMR |
|---|---|
| Studio | $760 |
| 1 Bedroom | $900 |
| 2 Bedrooms | $1,030 |
| 3 Bedrooms | $1,280 |
| 4 Bedrooms | $1,530 |
| 5 Bedrooms | $1,775 |
| 6 Bedrooms | $1,988 |
| 7 Bedrooms | $2,147 |
| 8 Bedrooms | $2,254 |
U.S. Census Bureau data (2024)
The Section 8 thesis in ZIP code 64655 is centered around the disparity between the Fair Market Rent (FMR) and the actual market rent. However, there is an absence of current market rent data for this area, which makes it challenging to provide a precise percentage gap. The FMR for the metro area for fiscal year 2026 is set at $1,140. This figure represents the maximum amount that landlords can charge tenants who receive rental assistance through the Section 8 program.
In the context where the FMR exceeds the market rent, landlords can capitalize on the yield play by renting properties to voucher tenants at the FMR rate. This means they can charge a higher rent than what the open market might bear, thereby increasing their income. Conversely, if the FMR were to be less than the market rent, landlords would have to accept a lower rent from voucher tenants, which could reduce their profit margins compared to renting at market rates.
The ZIP code 64655 has a unique profile with 0.0% of its residents being renters, indicating a predominantly owner-occupied community. The median home value and median income figures are currently unavailable, which limits our ability to fully contextualize the financial landscape of the area. Despite these data gaps, it's evident that landlords in this region should carefully consider the implications of accepting Section 8 vouchers, particularly focusing on how the $1,140 FMR aligns with their investment goals and property management costs.
To summarize, the key decision point for landlords considering the Section 8 program in ZIP 64655 is whether the $1,140 FMR provides sufficient revenue relative to their expenses and desired yields. Given the lack of market rent data, landlords must rely on local knowledge and trends to determine if participating in the Section 8 program is financially viable.
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.