Location: Bates County, MO | Metro: Bates County, MO HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $790 |
| 1 Bedroom | $810 |
| 2 Bedrooms | $1,030 |
| 3 Bedrooms | $1,320 |
| 4 Bedrooms | $1,710 |
| 5 Bedrooms | $1,984 |
| 6 Bedrooms | $2,222 |
| 7 Bedrooms | $2,400 |
| 8 Bedrooms | $2,520 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 64722 in fiscal year 2024 is set at $870. This figure represents the maximum amount that a landlord can charge for rent under the Section 8 program. It's important to note that this is not the amount you will receive; it is the ceiling for the rent you can charge. The actual rent you receive could be lower depending on the tenant's income.
To put this into context, the average rent in ZIP 64722, according to the latest Census American Community Survey (ACS), is $767. This suggests that the FMR is slightly above the local average, which could make your property more competitive for tenants seeking housing assistance.
The renter share in this area is 29.3%, indicating a moderate level of demand for rental properties. While not extremely high, this percentage shows there is a significant portion of the population renting, creating a reasonable market for Section 8 rentals. However, since the acquisition cost is listed as N/A, it implies that data on the cost to acquire a rental property in this area is either unavailable or unreliable. This makes it difficult to provide precise guidance on how much you should spend to purchase a property for Section 8 use.
Before committing to a Section 8 rental property in ZIP 64722, you must verify that your property meets the Housing Quality Standards (HQS). These standards ensure that the property is safe, decent, and sanitary for occupancy. If your property does not meet these standards, you will need to make necessary repairs before it can be approved for the program.
In summary, the FMR of $870 provides a benchmark for pricing your rental unit under the Section 8 program, while the local average rent of $767 gives an idea of the market rate. With a renter share of 29.3%, there is a steady demand for rentals in this area. Ensure your property meets HQS to avoid delays in approval and start receiving guaranteed rental payments.
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.