Location: Dade County, MO | Metro: Cedar County, MO
| Unit Size | Monthly FMR |
|---|---|
| Studio | $730 |
| 1 Bedroom | $780 |
| 2 Bedrooms | $990 |
| 3 Bedrooms | $1,320 |
| 4 Bedrooms | $1,510 |
| 5 Bedrooms | $1,752 |
| 6 Bedrooms | $1,962 |
| 7 Bedrooms | $2,119 |
| 8 Bedrooms | $2,225 |
U.S. Census Bureau data (2024)
The ZIP code 64756 represents a market with limited potential for Section 8 tenants. With a population of 681, only 10.2% of residents are renters, indicating a predominantly homeowner-dominated area. This low percentage of renters suggests that the demand for rental properties using Section 8 vouchers is relatively thin compared to areas with higher percentages of renters.
The median household income in ZIP 64756 stands at $46,971, which provides a baseline for assessing the affordability of rent. A market rent of $465 consumes approximately 10% of the median income, making it a manageable figure for most households. However, this calculation does not account for other living expenses, utilities, or the specific eligibility criteria for Section 8 vouchers.
Comparing the market rent to the Fair Market Rent (FMR) of $890, as set for FY 2026 in the metro area, highlights a significant gap. The FMR is nearly double the current market rent, suggesting that the local rental market is below the federal standard for affordable housing. This could imply that landlords in ZIP 64756 might find fewer qualified applicants who can bridge the difference between the voucher amount and the actual rent, especially if they seek to charge closer to the FMR.
A landlord in ZIP 64756 should anticipate a tenant pool that is primarily composed of low-income individuals and families who rely on Section 8 vouchers due to the limited number of renters. These tenants will likely have incomes that are below the area median income (AMI), as the voucher program targets those who need assistance to afford housing. Landlords must be prepared to work within the constraints of the voucher system, including regular inspections and rent increases tied to the federal guidelines rather than market conditions.
In summary, ZIP 64756 offers a niche opportunity for landlords interested in serving a low-income tenant base with a high dependency on government subsidies. However, the scarcity of renters means that competition for Section 8 tenants could be intense, and landlords may need to adjust their expectations regarding rental income and property management practices to align with the realities of this market.
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.