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 economics of Section 8 in ZIP code 65280 operate under specific parameters that landlords need to understand to manage their expectations and financial planning effectively. The SAFMR (Small Area Fair Market Rent) for a two-bedroom apartment in this ZIP code is set at $920 for the fiscal year 2026. This figure represents the maximum amount that the housing authority will reimburse landlords for renting out a unit under the Section 8 program.
To break down the actual payment structure, let's consider how the total rent is divided. Tenants are typically responsible for paying 30% of their adjusted income towards rent. For simplicity, assume an average adjusted income of $1,500 per month; this would mean the tenant contributes approximately $450 towards the rent. The remaining balance is covered by the Section 8 voucher, up to the $920 limit. In addition to the base rent, there are utility allowances that vary but generally do not exceed $200 for a two-bedroom unit.
Landlords should note that the SAFMR of $920 is specifically tailored for this ZIP code, reflecting local rental market conditions more accurately than a broader metro or county-level FMR might. This localized approach ensures that the reimbursement rates are more in line with the actual costs of maintaining and managing rental properties in the area.
Given these figures, the typical reimbursement gap or surplus can be calculated. If the local market rent for a two-bedroom apartment were higher than $920, which it often is, landlords would face a shortfall. However, since the local market rent is listed as N/A, we cannot provide a precise comparison. Assuming the market rent exceeds the SAFMR, landlords would need to adjust their expectations accordingly. Conversely, if the market rent is lower than $920, landlords could potentially benefit from a surplus, where the voucher covers more than the standard market rate.
In summary, landlords in ZIP 65280 should expect to receive a maximum of $920 for a two-bedroom unit under the Section 8 program, with the tenant contributing around $450 and utility allowances adding another $200 to the mix. The key to understanding the economics lies in comparing this SAFMR to the prevailing market rents in the area, which will determine whether a landlord experiences a reimbursement gap or surplus.
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.