Location: Morgan County, MO | Metro: Moniteau 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 | $740 |
| 1 Bedroom | $910 |
| 2 Bedrooms | $1,000 |
| 3 Bedrooms | $1,300 |
| 4 Bedrooms | $1,380 |
| 5 Bedrooms | $1,601 |
| 6 Bedrooms | $1,793 |
| 7 Bedrooms | $1,936 |
| 8 Bedrooms | $2,033 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,000 | $168,067 | 0.6% | F |
| 3BR | $1,300 | $244,681 | 0.53% | F |
| 4BR | $1,380 | $358,085 | 0.39% | F |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 65026 in Missouri for fiscal year 2024 is set at $820. This figure represents the payment standard for Section 8 housing vouchers, meaning that if you participate in the program, you will receive up to $820 per month for a standard two-bedroom unit. It's important to note that this is not the amount tenants will pay; it's the maximum amount the Housing Authority will pay on behalf of the tenant.
To put this into perspective, the average rent for a two-bedroom apartment in ZIP 65026, based on recent Census American Community Survey (ACS) data, is $799. The FMR is slightly higher, which can be advantageous for landlords as it helps cover costs that might otherwise exceed the market rate. However, the actual rent paid by the tenant will be a portion of their income, typically around 30%, with the voucher covering the rest up to the $820 limit.
With 28.4% of the population being renters, there is a steady demand for rental properties in this area. This percentage suggests that nearly a third of potential residents are looking for affordable housing options, making ZIP 65026 a viable market for Section 8 rentals. Additionally, the median home value in the area is approximately $236,152, indicating the typical cost of acquiring a property here. For new landlords entering the Section 8 market, this price point can serve as a reference for the investment required.
Before committing to a Section 8 rental, verify that your property meets all the necessary inspection criteria. The Housing Authority conducts regular inspections to ensure units are safe, decent, and sanitary. Failure to meet these standards can result in penalties or loss of participation in the program. Ensure that your property complies with all local building codes and safety regulations to avoid any issues.
In summary, the $820 FMR for ZIP 65026 provides a clear benchmark for landlords participating in the Section 8 program. With an average local rent of $799 and a significant 28.4% of the population renting, there is a solid demand for affordable housing. A median home value of $236,152 gives insight into the acquisition cost. Confirming that your property meets inspection requirements is essential before proceeding with a Section 8 rental.
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.