Location: Audrain County, MO | Metro: Audrain County, MO
| Unit Size | Monthly FMR |
|---|---|
| Studio | $710 |
| 1 Bedroom | $780 |
| 2 Bedrooms | $960 |
| 3 Bedrooms | $1,280 |
| 4 Bedrooms | $1,500 |
| 5 Bedrooms | $1,740 |
| 6 Bedrooms | $1,949 |
| 7 Bedrooms | $2,105 |
| 8 Bedrooms | $2,210 |
U.S. Census Bureau data (2024)
The market analysis for Section 8 investors in ZIP code 65232, located in Audrain County, Missouri, reveals a unique set of conditions that impact both cash flow and investment strategy. The HUD Fair Market Rent (FMR) for the area is set at $980 for the fiscal year 2026, which is the benchmark for voucher tenants' rental payments. However, the current market rent data for ZIP 65232 is not available, making it challenging to directly compare FMR against market rates.
Based on the HUD FMR alone, properties in ZIP 65232 will cash flow marginally for most investors. This means that while the rent received from voucher tenants will cover operational costs such as utilities, maintenance, and property management, it may not fully offset the mortgage payment or provide substantial profit margins. To achieve positive cash flow, landlords might need to focus on premium units—those with higher-end finishes or amenities—that can command slightly higher rents without exceeding the FMR cap.
The median home value in ZIP 65232 is also not available, which limits the ability to calculate a precise rent-to-price ratio. However, this lack of data suggests a stable housing market where home values do not fluctuate wildly, potentially offering a safer investment environment for those seeking long-term stability over short-term gains.
Investors should be aware that the absence of day median Days on Market (DOM) and percentage of price cut data indicates a market that is less volatile in terms of listing times and price adjustments. This stability can be beneficial for Section 8 investors who are looking for predictable outcomes and consistent tenant occupancy rather than rapid appreciation or speculative gains.
The strongest angle for Section 8 investors in ZIP 65232 is stability. Given the limited volatility in the local housing market and the reliable income stream provided by HUD's FMR, investments here offer a solid foundation for those prioritizing steady returns over aggressive growth strategies.
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.