Location: Audrain County, MO | Metro: Callaway 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 | $730 |
| 1 Bedroom | $740 |
| 2 Bedrooms | $960 |
| 3 Bedrooms | $1,150 |
| 4 Bedrooms | $1,350 |
| 5 Bedrooms | $1,566 |
| 6 Bedrooms | $1,754 |
| 7 Bedrooms | $1,894 |
| 8 Bedrooms | $1,989 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $960 | $200,164 | 0.48% | F |
| 3BR | $1,150 | $284,557 | 0.4% | F |
| 4BR | $1,350 | $365,459 | 0.37% | F |
U.S. Census Bureau data (2024)
The ZIP code 65231, located in Auxvasse, MO, within the Audrain County metro, presents a unique profile when compared against typical ZIP codes in the county. With a Fair Market Rent (FMR) set at $800 for fiscal year 2024, it stands higher than the average market rent of $670, indicating a slightly elevated cost for rental properties that aligns with federal guidelines. This suggests that landlords in 65231 can charge rents closer to the FMR without significantly overpricing their units.
The median home value in 65231 is $326,856, which is likely above the typical home values found in other ZIP codes within Audrain County. This higher valuation could be due to various factors such as location, property condition, or demand. Given the disparity between the FMR and market rent, alongside the relatively high home value, it's reasonable to infer that 65231 is a mid-tier neighborhood within its metro. It's neither a value pocket nor a premium sub-market, but rather a middle-ground where property values and rents are balanced.
The renter share in 65231 is 18.4%, which is a key figure for Section 8 analysis. This percentage indicates a moderate reliance on rental housing, suggesting that there is a significant but not overwhelming number of tenants who might qualify for housing assistance programs. The combination of a slightly higher FMR with a below-average market rent relative to the home value does not strongly indicate a Section 8 sweet spot; however, the presence of a notable renter share provides opportunities for landlords to participate in housing assistance programs, potentially stabilizing tenant turnover and occupancy rates.
To conclude, 65231 appears to offer a balanced environment for real estate investment, suitable for landlords and small-portfolio investors looking for stability. The higher FMR and median home value suggest a somewhat favorable market position, while the moderate renter share offers potential for Section 8 participation without signaling an area primarily dependent on subsidized housing.
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.