Location: Monroe County, MO | Metro: Monroe County, MO
| Unit Size | Monthly FMR |
|---|---|
| Studio | $780 |
| 1 Bedroom | $840 |
| 2 Bedrooms | $1,060 |
| 3 Bedrooms | $1,290 |
| 4 Bedrooms | $1,580 |
| 5 Bedrooms | $1,833 |
| 6 Bedrooms | $2,053 |
| 7 Bedrooms | $2,217 |
| 8 Bedrooms | $2,328 |
U.S. Census Bureau data (2024)
The ZIP code 65283 has a population of 546 individuals, with 0.0% of them being renters. This indicates that the area is predominantly a homeowner-dominated region rather than a renter-heavy one, which means that the demand for rental properties using Section 8 vouchers will likely be lower compared to areas with higher percentages of renters.
The median household income in this ZIP code is $39,464. Given the lack of specific market rent data for ZIP 65283, it's impossible to determine exactly what percentage of local income goes towards typical rent. However, we can compare the median income to the Fair Market Rent (FMR) set by HUD, which is $960 for the fiscal year 2026 in the metropolitan area. Assuming the FMR is reflective of the market rent in 65283, a household would need to spend approximately 24.3% of their annual income on rent alone to meet this FMR.
This expenditure level is significant, especially considering that the FMR is often higher than actual market rents in less urbanized areas. If the actual market rent is below the FMR, then the proportion of income spent on rent would be even lower, but still a considerable portion of the average household's budget.
In terms of tenant profiles, landlords in ZIP 65283 should expect tenants who are likely to be low-income earners, given the reliance on Section 8 vouchers. These tenants will have their rent subsidized up to the FMR, making it feasible for them to live in properties that align with the voucher limits. The scarcity of voucher holders due to the low renter percentage suggests that landlords might face challenges in finding eligible tenants for Section 8 properties.
To summarize, ZIP 65283 is not a prime location for Section 8 rentals due to its homeowner-dominated nature. Landlords should prepare for a niche market of low-income tenants seeking subsidized housing options, though the overall pool of potential voucher users is limited.
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.