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 | $710 |
| 1 Bedroom | $810 |
| 2 Bedrooms | $960 |
| 3 Bedrooms | $1,260 |
| 4 Bedrooms | $1,280 |
| 5 Bedrooms | $1,485 |
| 6 Bedrooms | $1,663 |
| 7 Bedrooms | $1,796 |
| 8 Bedrooms | $1,886 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,260 | $233,350 | 0.54% | F |
U.S. Census Bureau data (2024)
The ZIP code 65084 is home to 7,473 residents, with 28.1% being renters. This indicates that the area has a moderate rental market presence. Given the median household income of $55,372, we can assess the potential for Section 8 tenants and the viability of market rents.
The typical market rent of $611 in this ZIP code represents approximately 11% of the median household income. This is a reasonable figure, suggesting that many households could afford market rents without assistance. However, the comparison to the Fair Market Rent (FMR) of $810 for FY 2024 reveals a significant gap. The FMR is set higher than the current market rent, which could indicate that the rental market is somewhat below the federal benchmark, possibly due to a mix of factors including housing stock and economic conditions.
The disparity between the FMR and market rent also suggests that there is likely a substantial demand for rental units that accept Section 8 vouchers. With the median household income at $55,372, a landlord would be wise to consider the benefits of accepting vouchers. The voucher amount of $611 aligns well with the current market rent, making it a viable option for landlords who wish to attract tenants who might otherwise struggle to find affordable housing.
A landlord in ZIP 65084 should expect a tenant pool that includes a mix of market-rate and voucher-supported renters. The percentage of renters and the income levels suggest that while not all tenants will require vouchers, a significant portion may benefit from them. Landlords should prepare for tenants whose rent is subsidized, ensuring they understand the requirements and benefits of participating in the Section 8 program. This preparation includes maintaining properties to meet certain standards and being ready to work with the local housing authority.
In summary, ZIP 65084 offers a balanced opportunity for landlords willing to engage with both market-rate and Section 8 tenants. The existing rental population and income levels support a strategy that can accommodate both types of renters effectively.
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.