Location: Vernon County, MO | Metro: Bates County, MO HUD Metro FMR Area
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 | $810 |
| 1 Bedroom | $820 |
| 2 Bedrooms | $1,070 |
| 3 Bedrooms | $1,370 |
| 4 Bedrooms | $1,780 |
| 5 Bedrooms | $2,065 |
| 6 Bedrooms | $2,313 |
| 7 Bedrooms | $2,498 |
| 8 Bedrooms | $2,623 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,370 | $186,436 | 0.73% | D |
U.S. Census Bureau data (2024)
ZIP code 64779, located within the Vernon County, MO metro, has a Fair Market Rent (FMR) of $800 for fiscal year 2024. This figure is notably lower than the market rent of $919, indicating that it is a value pocket compared to other ZIP codes in the county. The discrepancy between the FMR and the market rent suggests that properties in this area are more affordable for low-income renters who qualify for Section 8 assistance.
The median home value in ZIP 64779 is $149,751, which is also below the average for the Vernon County metro. This makes it an attractive option for first-time homebuyers and investors looking for properties at a lower price point. However, the 19.4% renter share is slightly above the typical share in Vernon County, which usually hovers around 15-18%. This higher percentage of renters, coupled with the below-average home values, points to a potential concentration of Section 8 participants in the area.
Investors and landlords should consider the following:
In conclusion, ZIP 64779 stands out as a value pocket within the Vernon County, MO metro. It offers lower FMR and home values, which can be advantageous for both tenants and investors. The slightly elevated renter share further supports the potential for successful Section 8 participation in this area.
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.