Location: Vernon County, MO | Metro: Cedar 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 | $760 |
| 1 Bedroom | $790 |
| 2 Bedrooms | $1,040 |
| 3 Bedrooms | $1,400 |
| 4 Bedrooms | $1,560 |
| 5 Bedrooms | $1,810 |
| 6 Bedrooms | $2,027 |
| 7 Bedrooms | $2,189 |
| 8 Bedrooms | $2,298 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,040 | $136,731 | 0.76% | D |
| 3BR | $1,400 | $205,400 | 0.68% | D |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 64744, which includes El Dorado Springs, Missouri, is set at $940 per month for the fiscal year 2026. This figure represents the maximum amount that a landlord can charge for rent under the Section 8 Housing Choice Voucher program. It's important to note that this is not the rent you will receive; it's the benchmark against which your rental property's rent is compared.
In contrast, the average monthly rent for ZIP 64744 based on recent Census American Community Survey (ACS) data stands at $827. This means that if you participate in the Section 8 program, you'll be able to charge slightly above the typical market rate, ensuring a more stable income stream for your rental property.
The demand for rentals in this area is robust, with 31.1% of households being renters. This indicates that there is a significant portion of the population looking for housing options, including those who might benefit from the Section 8 program. Given the high percentage of renters, you can expect a steady interest in your property from potential tenants.
When considering acquiring a rental property in El Dorado Springs, the median home value is approximately $195,559. This figure gives you an idea of the investment required to purchase a property in the area. While the initial cost might seem steep, the long-term benefits of participating in the Section 8 program, such as guaranteed rent payments through the government, can offset the upfront expense.
Before you decide to take the plunge into the Section 8 rental market, ensure that your property meets all the necessary requirements for participation. This includes passing a housing quality standards (HQS) inspection, which verifies that your property is safe, decent, and sanitary. This step is crucial because failing to meet these standards can result in disqualification from the program, leaving you without a tenant and potentially impacting your cash flow.
To summarize, the FMR of $940 provides a clear guideline for setting your rent, while the local average of $827 suggests a slight premium for Section 8 participants. With a 31.1% renter share, you're likely to find interested tenants. At a median home value of $195,559, you have a good starting point for estimating your acquisition costs. Verify that your property meets HQS requirements to avoid any issues once you're ready to list it as a Section 8 rental.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.