Location: Vernon County, MO | Metro: Bates County, MO HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $840 |
| 1 Bedroom | $860 |
| 2 Bedrooms | $1,120 |
| 3 Bedrooms | $1,420 |
| 4 Bedrooms | $1,820 |
| 5 Bedrooms | $2,111 |
| 6 Bedrooms | $2,364 |
| 7 Bedrooms | $2,553 |
| 8 Bedrooms | $2,681 |
U.S. Census Bureau data (2024)
The ZIP code 64752 has a population of 545, with only 6.3% of residents being renters. This indicates that the area is primarily dominated by homeowners rather than renters, which suggests that the demand for rental properties using Section 8 vouchers will be relatively low. The median household income in this ZIP code is $66,875, which is slightly below the average market rent of $675 per month.
To put this into perspective, the typical rent of $675 consumes approximately 1.01% of the local median income. This percentage is calculated by dividing the monthly rent by the annual median income and multiplying by 12. However, it's important to note that the Federal Market Rent (FMR) for this area in fiscal year 2024 is set at $950, which is significantly higher than the current market rent. This discrepancy between the FMR and the actual market rent could indicate potential opportunities for landlords who can offer properties at or near the FMR rate, as they would likely receive higher subsidies from the government.
A landlord in ZIP 64752 should expect tenants who are reliant on Section 8 vouchers to make up a small portion of the total tenant pool due to the low percentage of renters. These tenants will have incomes that fall within the guidelines set by the Housing Choice Voucher program, typically no more than 50% of the Area Median Income (AMI), which in this case is around $33,438 annually. Given the FMR of $950, the subsidy amount for a tenant with an income at the maximum threshold would cover the difference between their portion of the rent and the FMR, making it financially viable for landlords to participate in the program despite the overall low demand for Section 8 vouchers in the area.
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.