Location: Cooper County, MO | Metro: Cooper 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 | $690 |
| 1 Bedroom | $740 |
| 2 Bedrooms | $960 |
| 3 Bedrooms | $1,280 |
| 4 Bedrooms | $1,390 |
| 5 Bedrooms | $1,612 |
| 6 Bedrooms | $1,805 |
| 7 Bedrooms | $1,949 |
| 8 Bedrooms | $2,046 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,280 | $222,439 | 0.58% | F |
U.S. Census Bureau data (2024)
The median income in ZIP code 65276 stands at $78,958, which provides a solid financial foundation for many households. However, when it comes to housing costs, the reality is stark. The market rate rent, according to the Census ACS, is $727 per month. This figure is manageable for most residents, given their income levels, but it's crucial to also consider the federal payment standard for Section 8 vouchers, which is set at $800 for the fiscal year 2024.
The difference between the market rate ($727) and the voucher payment standard ($800) suggests a potential advantage for landlords who accept Section 8 vouchers. This higher payment standard could attract more tenants and offer a more stable income source compared to relying solely on market rate rents. Given that only 19.4% of the 1,777 residents are renters, the competition for rental properties is relatively low. However, the limited number of renters means landlords must be strategic in attracting and retaining tenants.
The affordability gap, where the voucher standard exceeds the market rate, indicates that landlords who accept vouchers might find themselves with a slight edge over those who don't. This could translate into a larger pool of potential tenants willing to pay the $800 voucher rate, thereby reducing vacancy rates and increasing demand for properties that accept vouchers.
For landlords and small-portfolio investors considering their strategy, accepting Section 8 vouchers can be a beneficial approach. It ensures a steady stream of income at a rate slightly above the market average, potentially leading to better occupancy and financial stability. However, the decision should also weigh the administrative requirements and any perceived stigma associated with voucher programs. In ZIP 65276, the higher voucher payment standard makes it a viable option worth exploring.
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.