Section 8 Fair Market Rent (FMR) for ZIP 64771 - 2027

Location: Vernon County, MO | Metro: Vernon County, MO

Investment Score for ZIP 64771

N/A

Monthly Rent (2BR)

$960

Median Price (2BR)

$N/A

1% Rule

Annual Yield

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$710
1 Bedroom	$740
2 Bedrooms	$960
3 Bedrooms	$1,220
4 Bedrooms	$1,440
5 Bedrooms	$1,670
6 Bedrooms	$1,870
7 Bedrooms	$2,020
8 Bedrooms	$2,121

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
3BR	$1,220	$258,405	0.47%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

490

Median Household Income

$61,645

Housing Units

212

Renter Percentage

14.9%

Occupancy Rate

92.0%

Renter Occupied

The economics of Section 8 housing in ZIP code 64771 are straightforward. The SAFMR (Standard Area Fair Market Rent) for a two-bedroom apartment in this ZIP code is set at $890 per month for fiscal year 2026. However, the local market rent, according to Census ACS data, is significantly lower at $645 per month.

A landlord participating in the Section 8 program receives payment from both the tenant and the government. Here’s how it works:

Tenant Portion: Tenants typically pay 30% of their adjusted income towards rent. If we assume an average adjusted income of $1,200 per month, the tenant would pay approximately $360.
Government Reimbursement: The government covers the difference between the tenant's payment and the SAFMR, up to the limit. In this case, it would be $890 minus the tenant's contribution of $360, totaling $530.

In addition to these payments, there is also an allowance for utilities. This amount varies but can add another $100 to $200 to the total monthly reimbursement.

Therefore, a landlord in ZIP 64771 would receive around $630 to $730 per month for a two-bedroom unit under the Section 8 program. Given that the local market rent is $645, this means the landlord will be paid slightly below the market rate, resulting in a small reimbursement gap.

The reimbursement gap for a two-bedroom apartment in ZIP 64771 is approximately $15 to $120, depending on the exact utility allowance. This gap represents the difference between the market rent and the combined tenant and government reimbursement under the Section 8 program.

Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.