Location: Columbia, MO | Metro: Columbia, MO HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $770 |
| 1 Bedroom | $980 |
| 2 Bedrooms | $1,100 |
| 3 Bedrooms | $1,490 |
| 4 Bedrooms | $1,710 |
| 5 Bedrooms | $1,984 |
| 6 Bedrooms | $2,222 |
| 7 Bedrooms | $2,400 |
| 8 Bedrooms | $2,520 |
U.S. Census Bureau data (2024)
The economics of Section 8 housing in ZIP code 65215 are defined by the SAFMR (Small Area Fair Market Rent) rates established by HUD (Housing and Urban Development). For a two-bedroom apartment in this specific ZIP code, the SAFMR for FY 2024 is set at $1030. This figure represents the maximum amount that HUD will reimburse landlords for participating in the Section 8 Housing Choice Voucher program.
Given that the local market rent is currently not available, we can still provide a clear breakdown of how the SAFMR works in practice. The $1030 reimbursement does not cover the entire rent; it is meant to subsidize the cost for low-income tenants. Typically, tenants are required to pay 30% of their adjusted income towards rent, plus any applicable utility allowances. Utility allowances vary but generally cover water, electricity, gas, and sometimes cable or internet services.
To illustrate, let's assume a tenant's adjusted income is $1500 per month. Thirty percent of this would be $450, which is the amount they would contribute toward the rent. If the utility allowance is $100, then the total reimbursement to the landlord would be the sum of the tenant's contribution and the utility allowance, capped at the SAFMR rate of $1030.
In this scenario, the landlord would receive:
Totaling $550. Since the SAFMR is $1030, the landlord would be reimbursed up to this amount, making the actual reimbursement $1030.
This means that if the market rent for a similar two-bedroom property exceeds $1030, there would be a reimbursement gap. Landlords must ensure that their rent does not exceed the SAFMR to qualify for full reimbursement. Conversely, if the market rent is below $1030, landlords might see a surplus, though this surplus cannot be passed on to the tenant, who only pays the 30% of their income plus utilities.
In ZIP 65215, landlords should expect a reimbursement gap if their market rents are higher than $1030, as the SAFMR applies specifically to this ZIP code and sets a fixed ceiling on reimbursement rates.
Data Sources: FMR data from HUD (2027). 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.