Location: Mercer County, MO | Metro: Grundy County, MO
| Unit Size | Monthly FMR |
|---|---|
| Studio | $710 |
| 1 Bedroom | $740 |
| 2 Bedrooms | $960 |
| 3 Bedrooms | $1,280 |
| 4 Bedrooms | $1,440 |
| 5 Bedrooms | $1,670 |
| 6 Bedrooms | $1,870 |
| 7 Bedrooms | $2,020 |
| 8 Bedrooms | $2,121 |
U.S. Census Bureau data (2024)
The ZIP code 64679 is a modest-sized area with a population of 921 individuals. At 22.5%, the rental market presence is notable but not overwhelming. The median household income stands at $53,611, which provides a baseline for understanding the economic context of potential tenants.
In terms of Section 8 voucher demand, while specific figures on voucher utilization in ZIP 64679 are not provided, we can infer that the demand would be proportionate to the percentage of renters. With 22.5% of residents being renters, it suggests a moderate level of interest in affordable housing options such as Section 8 vouchers.
Comparing the median income to the Fair Market Rent (FMR), which is set at $890 for FY 2026 in the metro area, indicates that typical rents are likely to be below this figure given the lower median income. If we assume the market rent aligns closely with the median income, then typical rent in 64679 could be around $1,200 per month, based on national averages where rent often consumes about 25% of income. This assumption places the typical rent at approximately 22.4% of the median household income, which is slightly below the assumed average.
However, without concrete data on market rents, it's important to note that the actual percentage of income spent on rent could vary. Given the FMR of $890, if market rents in 64679 are indeed lower, then tenants might find their rent expenses consume a smaller portion of their income, making the area potentially attractive for those seeking affordable housing.
A landlord in ZIP 64679 should expect tenants who rely on Section 8 vouchers to have a monthly income that is less than half of the median household income, as vouchers typically serve low-income families. Therefore, tenants will likely have an income closer to the poverty line, requiring assistance to afford decent housing. Landlords must ensure compliance with HUD regulations and be prepared to manage properties that cater to a demographic with limited financial resources, focusing on maintaining quality living conditions while adhering to budgetary constraints.
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.