Location: Jefferson City, MO | Metro: Jefferson City, MO HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $740 |
| 1 Bedroom | $740 |
| 2 Bedrooms | $970 |
| 3 Bedrooms | $1,340 |
| 4 Bedrooms | $1,560 |
| 5 Bedrooms | $1,810 |
| 6 Bedrooms | $2,027 |
| 7 Bedrooms | $2,189 |
| 8 Bedrooms | $2,298 |
The ZIP code 65110 in Missouri presents a unique challenge for analysis due to the lack of specific population and income data. However, it's crucial for landlords and small-portfolio investors to understand the dynamics of the rental market in this area.
Section 8 housing vouchers are designed to help low-income families afford housing that they might otherwise be unable to pay for. The Fair Market Rent (FMR) for ZIP 65110 is set at $830 per month for FY 2024. This figure represents the maximum amount that landlords can charge for a unit to be considered affordable under the program.
Without precise data on the percentage of renters or median household income, it's difficult to provide exact percentages of how much of local income goes towards rent. However, we can infer that in areas where the median income is significantly below the FMR, there is likely a higher concentration of Section 8 tenants. Conversely, if the median income is closer to or above the FMR, fewer residents would qualify for such assistance.
In ZIP 65110, landlords should anticipate a tenant pool that heavily relies on government subsidies to cover their housing costs. This reliance suggests that the demand for Section 8 vouchers is likely high, making it a renter-heavy area. Landlords must be prepared to navigate the requirements of the Housing Choice Voucher Program, which includes regular inspections and rent calculations based on tenant income.
To attract and retain Section 8 tenants, properties must meet certain standards and be priced appropriately. Landlords should ensure their units are well-maintained and up to code, as these are prerequisites for participating in the program. Additionally, understanding the local rent control measures and the average market rent in comparison to the FMR will help landlords price their units competitively while adhering to program guidelines.
In summary, ZIP 65110 appears to be an area with a strong demand for subsidized housing, making it essential for landlords to familiarize themselves with the intricacies of the Section 8 program. The expected tenant profile consists of individuals and families who depend on government assistance to meet their housing needs, with a significant portion of their income allocated to rent 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.