Location: Chariton County, MO | Metro: Chariton County, MO
| Unit Size | Monthly FMR |
|---|---|
| Studio | $710 |
| 1 Bedroom | $740 |
| 2 Bedrooms | $970 |
| 3 Bedrooms | $1,300 |
| 4 Bedrooms | $1,410 |
| 5 Bedrooms | $1,636 |
| 6 Bedrooms | $1,832 |
| 7 Bedrooms | $1,979 |
| 8 Bedrooms | $2,078 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 64660 in the metro area for fiscal year 2026 is set at $890. This figure represents the payment standard for Section 8 housing vouchers, meaning that if you participate in the program, the Housing Authority will pay up to $890 per month towards the rent of your property. However, it's important to note that this does not mean your tenants will pay $890; rather, they will pay a portion of their income as rent, typically around 30%, and the voucher covers the remainder up to the $890 limit.
To put this into perspective, the average rent for ZIP 64660 based on Census American Community Survey (ACS) data is $438. This indicates that the Section 8 payment standard is significantly higher than the local average rent, which can be beneficial for landlords looking to offset some of the costs associated with maintaining and managing rental properties.
The renter share in ZIP 64660 is 12.1%, suggesting there is a moderate demand for rental housing in this area. While this percentage is not extremely high, it still points to a viable market for those interested in offering Section 8 rentals. The demand for affordable housing remains steady, and participating in the program can ensure a consistent stream of tenants who are committed to paying their rent through the voucher system.
Note that the acquisition cost for properties in this ZIP code is listed as N/A, which means there isn't a specific figure available for the cost of buying a property. This could indicate that data on recent sales is limited or not applicable for the analysis. As a landlord, you should conduct your own research on property values and costs in the area to determine if the investment aligns with your financial goals.
Before deciding to pull the trigger on your first Section 8 rental in ZIP 64660, verify that your property meets the Housing Quality Standards (HQS). These standards are set by the Department of Housing and Urban Development (HUD) and must be met for a property to be eligible for the Section 8 program. Ensuring compliance with HQS is crucial to avoid potential issues and to guarantee that your property is accepted into the program.
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.