Location: Maries County, MO | Metro: Jefferson City, 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 | $710 |
| 1 Bedroom | $840 |
| 2 Bedrooms | $960 |
| 3 Bedrooms | $1,320 |
| 4 Bedrooms | $1,470 |
| 5 Bedrooms | $1,705 |
| 6 Bedrooms | $1,910 |
| 7 Bedrooms | $2,063 |
| 8 Bedrooms | $2,166 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $960 | $148,850 | 0.64% | D |
| 3BR | $1,320 | $216,441 | 0.61% | D |
U.S. Census Bureau data (2024)
The analysis of the Section 8 program in ZIP code 65013, specifically in Belle, Missouri, reveals a significant gap between the Fair Market Rent (FMR) and the actual market rent. For fiscal year 2024, the FMR is set at $800, while the Census ACS reports the market rent at $575. This creates a gap of $225, or approximately 39%, where landlords can receive higher rents through Section 8 vouchers compared to the open market.
In this context, voucher tenants represent an opportunity for landlords to increase their rental income yield. Despite the lower percentage of renters at 25.1%, the potential to earn above the average market rate makes Section 8 properties particularly attractive. The median home value in Belle, MO is $210,448, indicating a relatively stable housing market. However, the median income of $57,212 suggests that many residents may struggle to afford market-rate housing, making the Section 8 program a critical lifeline for both tenants and landlords seeking to maximize their returns.
The higher FMR compared to market rent means that landlords who participate in the Section 8 program can expect to see a boost in their cash flow. This is because the government will subsidize the difference between what the tenant can afford and the FMR. Therefore, landlords can charge closer to the FMR of $800 without pricing out low-income tenants, who would otherwise pay only $575 based on the market conditions.
However, it's important to note that accepting Section 8 tenants comes with its own set of responsibilities and regulations. Landlords must ensure their properties meet HUD standards and be prepared for regular inspections. Additionally, there might be delays in receiving rent payments due to administrative processes. Despite these challenges, the financial incentive of closing the gap between the FMR and market rent makes the program a valuable tool for increasing yields in Belle, MO.
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.