Location: Barton County, 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 | $990 |
| 1 Bedroom | $990 |
| 2 Bedrooms | $1,260 |
| 3 Bedrooms | $1,640 |
| 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: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,640 | $226,162 | 0.73% | D |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 64855 in fiscal year 2024 is set at $930. This figure represents the maximum amount that a landlord can charge for rent under the Section 8 program, which is a housing assistance program managed by the U.S. Department of Housing and Urban Development (HUD). It's important to note that this is the payment standard, not necessarily the rent you will receive; it is the ceiling for what HUD will pay on behalf of eligible tenants.
In comparison, the average market rent in ZIP 64855 is $1,158, according to the latest data from the Census Bureau's American Community Survey (ACS). This indicates that the FMR is lower than the typical rent in the area, which could affect your decision on whether to participate in the Section 8 program.
The rental share in ZIP 64855 is 10.1%, meaning that slightly over one-tenth of the households in this area are renters. This suggests a steady but not overwhelming demand for rental properties. However, for those who qualify for Section 8 assistance, there will be a consistent pool of potential tenants looking for affordable housing options.
If you're considering acquiring a property to use as a Section 8 rental, the median home value in ZIP 64855 is around $248,710. This figure should be taken into account when evaluating the financial feasibility of your investment. Remember, the initial acquisition cost is just one part of the equation; ongoing maintenance, vacancy rates, and other operational costs also play significant roles.
Before making your final decision, verify the income eligibility requirements for Section 8 tenants in ZIP 64855. Landlords must ensure that prospective tenants meet these criteria, typically earning less than 50% of the Area Median Income (AMI), to be eligible for the program. This step is crucial because it directly impacts the pool of tenants you might attract and the overall success of your rental venture.
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.