Section 8 Fair Market Rent (FMR) for ZIP 64858 - 2027

Location: Joplin, MO | Metro: Joplin, MO HUD Metro FMR Area

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$810
1 Bedroom	$820
2 Bedrooms	$1,030
3 Bedrooms	$1,350
4 Bedrooms	$1,470
5 Bedrooms	$1,705
6 Bedrooms	$1,910
7 Bedrooms	$2,063
8 Bedrooms	$2,166

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

586

Median Household Income

$N/A

Housing Units

280

Renter Percentage

N/A

Occupancy Rate

100.0%

Renter Occupied

The ZIP code 64858 presents an interesting scenario when viewed from a renter's perspective. Given the lack of specific data on median income and market rental rates, we must rely on other indicators to assess affordability.

Affordability is a significant concern in this area, especially when considering the voucher payment standard of $860 set for the fiscal year 2024. This figure represents the Fair Market Rent (FMR) benchmark, which is the maximum amount that housing authorities will pay landlords through the Section 8 program. Without a median income figure, it's challenging to determine if households can comfortably cover their living expenses beyond just rent.

The extremely low percentage of renters—only 0.0%—suggests that this ZIP code is predominantly composed of homeowners rather than tenants. With a total population of 586, this indicates a very small pool of potential renters, which directly impacts the competition among landlords. The limited number of renters means that landlords must carefully consider their pricing strategy to attract the few available tenants.

The affordability gap, defined as the difference between the FMR and the actual market rate, could be substantial given the absence of market rate data. If the actual market rate is higher than the $860 voucher payment, then the gap would make it difficult for voucher holders to find suitable housing unless they are willing to cover the additional costs themselves. Conversely, if the market rate is lower, the gap would be minimal, making voucher payments attractive to landlords.

Takeaway for Landlords:

If you're considering accepting vouchers, ensure that your rental properties meet the quality standards required by the Section 8 program. Vouchers can provide a stable source of income, especially if market rates are below the $860 FMR.
Given the low number of renters, focus on marketing efforts that highlight the benefits of renting in this area, such as community amenities and safety, to draw in those few potential tenants.
Evaluate the local housing market closely. If market rates are indeed above the FMR, consider whether you can attract tenants who might supplement the voucher payment or look into other government assistance programs that might offer higher subsidies.

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.