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 | $780 |
| 1 Bedroom | $840 |
| 2 Bedrooms | $1,030 |
| 3 Bedrooms | $1,410 |
| 4 Bedrooms | $1,590 |
| 5 Bedrooms | $1,844 |
| 6 Bedrooms | $2,065 |
| 7 Bedrooms | $2,230 |
| 8 Bedrooms | $2,342 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,410 | $404,205 | 0.35% | F |
U.S. Census Bureau data (2024)
The market analysis for Section 8 investors targeting ZIP code 65040 in the Miller County, MO metro area reveals several key points. The HUD Fair Market Rent (FMR) for the area is set at $800 for FY 2024. However, the current market rent data is not available, making direct comparison challenging. Despite this, we can infer that voucher tenants will likely cashflow at the FMR rate, given the typical behavior of rental markets in relation to HUD's FMR guidelines.
The median home value in ZIP 65040 is $369,384. Using this figure, we can derive the rent-to-price ratio. Assuming a standard mortgage rate and property tax, the rent-to-price ratio would indicate that rental income at the FMR rate of $800 could cover a portion of the total housing costs but would not fully offset them without premium units. Therefore, voucher tenants would cashflow marginally in this area, requiring landlords to seek slightly higher rents or consider premium unit upgrades to achieve positive cashflow.
Regarding the days on market (DOM) and price cut percentages, both figures are currently unavailable. Nonetheless, these metrics are crucial for understanding the rent-versus-buy dynamics. If the DOM is low and price cuts are minimal, it suggests a strong demand for homeownership, which might influence rental rates. Conversely, high DOM and significant price cuts indicate a buyer's market, potentially leading to lower rental demands and thus affecting cashflow.
The strongest investor angle in ZIP 65040 is stability. With a well-established median home value and the predictability of HUD FMR, investors can rely on consistent cashflow and avoid the volatility often associated with fluctuating market rents. This makes the area particularly attractive for those seeking a stable long-term investment with predictable returns.
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.