Location: Howard 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 | $1,150 |
| 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: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,150 | $212,999 | 0.54% | F |
U.S. Census Bureau data (2024)
The ZIP code 65274 presents a dynamic rental market with the Fair Market Rent (FMR) set at $800 for fiscal year 2024, indicating a government benchmark that reflects the current economic conditions and living costs in the area. In comparison, the actual market rent reported by the Census Bureau's American Community Survey stands at $681. This suggests that the rental market is currently below the government's fair market assessment, possibly due to an oversupply of rental units relative to demand.
The median home value in ZIP 65274 is $196,166, which provides insight into the overall property values and affordability in the region. Despite the lack of specific data on the percentage of price cuts and days on market (DOM), the disparity between the FMR and the market rent implies a competitive environment where landlords might be offering lower rents to attract tenants.
A key indicator of the market dynamics is the 22.3% renter share, which is relatively low. This figure suggests that a majority of residents prefer homeownership over renting, which can contribute to long-term housing pressures. With fewer individuals opting to rent, the demand for rental properties decreases, leading to a situation where landlords may have to offer incentives or reduce rents to fill vacancies.
In a broader context, the low renter share could also indicate a stable community with a preference for long-term residency, potentially through homeownership. This stability might reduce the turnover rate in the rental market, making it less volatile but also less attractive for short-term investments. For landlords and small-portfolio investors, understanding these dynamics is crucial for setting realistic expectations and making informed decisions about property management and investment strategies.
The interplay between the FMR, market rent, and median home value paints a picture of a market where supply may slightly outpace demand, particularly in the rental sector. However, the significant proportion of homeowners points towards a balanced market with potential for steady growth rather than rapid fluctuations. Investors should consider these factors when evaluating the ZIP 65274 as a location for real estate investment.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.