Location: Chariton County, MO | Metro: Howard 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 | $670 |
| 1 Bedroom | $740 |
| 2 Bedrooms | $960 |
| 3 Bedrooms | $1,160 |
| 4 Bedrooms | $1,490 |
| 5 Bedrooms | $1,728 |
| 6 Bedrooms | $1,935 |
| 7 Bedrooms | $2,090 |
| 8 Bedrooms | $2,195 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,160 | $196,011 | 0.59% | F |
U.S. Census Bureau data (2024)
The economics of Section 8 housing in ZIP code 65254 are straightforward. The SAFMR (Section 8 Area Fair Market Rent) for a two-bedroom apartment is set at $820 per month for fiscal year 2024. This figure is specific to this ZIP code, meaning it reflects the rental rates deemed fair for this particular area. In comparison, the local market rent for a two-bedroom unit is reported to be $603 per month based on recent Census ACS data.
A landlord participating in the Section 8 program should understand that the total reimbursement received includes both the tenant's contribution and any utility allowances. The tenant is generally responsible for paying approximately 30% of their adjusted income toward rent. Utility allowances vary but typically cover electricity, water, and garbage collection. These allowances can range from $100 to $200 per month depending on the household size and the location's average utility costs.
To illustrate, if the SAFMR for a two-bedroom unit is $820, and the tenant's portion is $603, then the landlord will receive the difference plus any applicable utility allowance. For instance, if the utility allowance is $150, the landlord would receive $217 ($820 - $603) plus the $150 utility allowance, totaling $367 above the market rent of $603.
This creates a scenario where the landlord is reimbursed more than the market rent for the property. In ZIP 65254, the typical reimbursement gap for a two-bedroom voucher is a surplus of $217 per month before accounting for utilities. Once utility allowances are factored in, the surplus can increase, providing landlords with additional financial benefits over and above the standard market rates.
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.