Location: Miller 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 | $770 |
| 1 Bedroom | $860 |
| 2 Bedrooms | $1,020 |
| 3 Bedrooms | $1,380 |
| 4 Bedrooms | $1,530 |
| 5 Bedrooms | $1,775 |
| 6 Bedrooms | $1,988 |
| 7 Bedrooms | $2,147 |
| 8 Bedrooms | $2,254 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,380 | $315,733 | 0.44% | F |
U.S. Census Bureau data (2024)
The ZIP code 65032 presents several challenges for potential Section 8 landlords. First, consider the tenant turnover rate. The market rent stands at $804, which is slightly below the Fair Market Rent (FMR) of $830 for fiscal year 2024. This discrepancy can lead to higher turnover rates as tenants seek more affordable housing options, impacting the stability and profitability of your investment.
Vacancy exposure is another concern. With the days on market (DOM) being N/A, it suggests there might be an issue with tracking or reporting this metric, which is crucial for understanding how quickly properties can be filled. A lack of data here introduces uncertainty about how long you might face vacancy periods without rental income.
Deferred maintenance also poses a risk. Properties in this area have a typical home value of $312,058, while the median household income is $63,125. This income level may limit the ability of residents to contribute to significant repairs or improvements, placing that financial burden squarely on the landlord. Without a substantial income base, tenants might struggle to keep up with their obligations under the lease agreement, leading to increased maintenance costs for the landlord.
However, these risks are tempered by the high renter share of 22.4%. High renter density often translates into greater demand for rental properties, including those that accept Section 8 vouchers. This demand can help mitigate some of the risks associated with tenant turnover and vacancy exposure, as there is a larger pool of potential tenants who are likely to be interested in subsidized housing.
Verdict: Moderate risk for a first-time Section 8 landlord.
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.