Location: Chariton County, MO | Metro: Chariton County, MO
| Unit Size | Monthly FMR |
|---|---|
| Studio | $720 |
| 1 Bedroom | $750 |
| 2 Bedrooms | $970 |
| 3 Bedrooms | $1,320 |
| 4 Bedrooms | $1,440 |
| 5 Bedrooms | $1,670 |
| 6 Bedrooms | $1,870 |
| 7 Bedrooms | $2,020 |
| 8 Bedrooms | $2,121 |
U.S. Census Bureau data (2024)
The economics of Section 8 in ZIP code 65246 are straightforward. The SAFMR (Standard Area Fair Market Rent) for a two-bedroom apartment in this specific ZIP code for fiscal year 2026 is set at $890. This figure represents the maximum amount that the Housing Choice Voucher program will pay towards the rent of a two-bedroom unit.
However, there is no specific data available on the local market rent for ZIP 65246, which means we must rely on the SAFMR to gauge the rental landscape. The SAFMR serves as a benchmark for both landlords and tenants to understand the financial parameters within which they operate.
A voucher payment is structured such that the tenant contributes a portion of their income towards the rent, typically 30%. The remainder is covered by the voucher, up to the SAFMR limit. Additionally, utility allowances are included in the total reimbursement package but do not exceed the $890 cap. These allowances vary based on the type of utilities required and can range from heating to electricity, depending on the tenant's needs.
To illustrate, if a tenant's portion of the rent is $200, the voucher would cover the difference up to $890. Therefore, the landlord would receive $690 from the voucher program, plus the $200 contribution from the tenant, totaling $890. If the market rent exceeds $890, the landlord does not receive additional funds from the voucher program, leaving them with a potential shortfall.
In ZIP 65246, given the lack of local market rent data, we assume the SAFMR closely mirrors the average market rent. This means landlords can expect to be reimbursed fully up to $890 per month for a two-bedroom unit. However, if the market rent for a two-bedroom in this area is higher than $890, landlords will face a reimbursement gap, where they must either reduce the rent to match the voucher amount or accept a lower monthly income for the unit.
Conversely, if the market rent is lower than $890, landlords may experience a surplus, receiving more than the standard market rate. For instance, if the market rent is $750, the landlord would still receive the full $890 from the voucher program, resulting in an extra $140 per month.
The typical reimbursement gap or surplus for a two-bedroom unit in ZIP 65246 cannot be precisely determined without specific market rent data. However, using the SAFMR of $890 as a reference point, landlords should adjust their expectations based on whether the local market rents are above or below this figure.
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.