Location: Joplin, MO | Metro: Joplin, 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 | $810 |
| 2 Bedrooms | $1,030 |
| 3 Bedrooms | $1,340 |
| 4 Bedrooms | $1,460 |
| 5 Bedrooms | $1,694 |
| 6 Bedrooms | $1,897 |
| 7 Bedrooms | $2,049 |
| 8 Bedrooms | $2,151 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,030 | $117,751 | 0.87% | C |
| 3BR | $1,340 | $200,016 | 0.67% | D |
U.S. Census Bureau data (2024)
With a Fair Market Rent (FMR) set at $900 for zip code 64844 in Granby, MO, for fiscal year 2024, landlords can expect to align their rental prices closely with this figure to remain competitive and attractive to potential tenants utilizing Section 8 vouchers. The Census ACS data indicates a market rent of $828, suggesting that the actual rents charged may be slightly below the FMR, providing a margin for landlords to increase rates without deterring voucher holders. At a median home value of $183,628, the housing market in Granby reflects a stable real estate environment, which is favorable for long-term investments. Renter share stands at 18.9%, indicating a moderate demand for rental properties in the area. Given the median income of $63,382, it's evident that the local population has the financial capacity to cover the $828 market rent, assuming they allocate a reasonable portion of their income towards housing. The lack of data on days on market (DOM) and price-cut share suggests that there is no significant overpricing issue, allowing landlords to confidently set their rental prices around the FMR. This analysis points to Granby, MO, as a viable market for Section 8 investments, with a balanced relationship between rental prices and income levels. In conclusion, the conditions in Granby support a positive outlook for landlords participating in the Section 8 program.
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.