Location: Saline County, MO | Metro: Pettis County, MO
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 | $730 |
| 1 Bedroom | $760 |
| 2 Bedrooms | $990 |
| 3 Bedrooms | $1,270 |
| 4 Bedrooms | $1,300 |
| 5 Bedrooms | $1,508 |
| 6 Bedrooms | $1,689 |
| 7 Bedrooms | $1,824 |
| 8 Bedrooms | $1,915 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,270 | $192,274 | 0.66% | D |
U.S. Census Bureau data (2024)
The ZIP code 65340 stands out with a population of 16,026 residents, where 31.6% of them rent their homes. The median income in this area is $58,118, indicating a middle-class community. Notably, the median home value is significantly higher at $183,189, which suggests that homeownership is valued and financially feasible for many residents.
Moving into the specifics of voucher economics, the Fair Market Rent (FMR) for ZIP 65340 is set at $910 for the fiscal year 2026, reflecting the government's assessment of rental costs in this region. In contrast, the actual market rent, as per Census ACS data, is $772. This difference between the FMR and the market rent means that landlords participating in the Section 8 program can expect to receive slightly above-market rents, which can be beneficial for maintaining profitability and covering property expenses.
The data signature for ZIP 65340 reads as stable. With a relatively high median home value and a moderate rental rate, there is an indication that the local real estate market has found a balance. The percentage of renters, while significant, does not suggest a highly transitional environment. Instead, it points to a mix of homeowners and renters that is typical of many suburban areas. Given these factors, landlords and small-portfolio investors can anticipate steady demand for both rental properties and Section 8 vouchers, making it a reliable investment location.
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.