Location: Moniteau County, MO | Metro: Moniteau County, MO HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $730 |
| 1 Bedroom | $740 |
| 2 Bedrooms | $960 |
| 3 Bedrooms | $1,330 |
| 4 Bedrooms | $1,510 |
| 5 Bedrooms | $1,752 |
| 6 Bedrooms | $1,962 |
| 7 Bedrooms | $2,119 |
| 8 Bedrooms | $2,225 |
The Fair Market Rent (FMR) for ZIP code 65042 in fiscal year 2024 is set at $820. This figure represents the payment standard used by the U.S. Department of Housing and Urban Development (HUD) to determine the maximum amount of rent that can be charged for a Section 8 rental unit in this area. It's important to note that this does not necessarily reflect the actual rent you will charge your tenants; it's the benchmark HUD uses to ensure rents are reasonable.
In ZIP 65042, the local median rent is currently listed as N/A. This means there isn't enough data available to provide a clear comparison between the FMR and typical market rents. However, the FMR serves as a reliable guide for setting rent levels that align with federal guidelines.
The percentage of renters in the area who could potentially benefit from Section 8 housing assistance is also listed as N/A%. Despite the lack of specific numbers, understanding the demand for affordable housing is crucial. Section 8 provides a stable source of income for landlords willing to participate, as tenants' rental payments are subsidized by the government.
The acquisition cost for properties in this ZIP code is currently N/A. This value would typically help you understand the average price range for homes in the area, which is useful when deciding whether a property fits into your investment strategy.
Before proceeding with your first Section 8 rental in ZIP 65042, verify that your property meets all the required inspection criteria. HUD has specific standards for housing quality, and failing to meet these can result in disqualification from the program. Ensure that your rental unit passes the initial inspection and maintains the necessary standards to continue receiving the guaranteed rental payments.
Data Sources: FMR data from HUD (2027).
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.