Location: Hickory County, MO | Metro: Benton 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 | $750 |
| 1 Bedroom | $780 |
| 2 Bedrooms | $1,020 |
| 3 Bedrooms | $1,340 |
| 4 Bedrooms | $1,460 |
| 5 Bedrooms | $1,694 |
| 6 Bedrooms | $1,897 |
| 7 Bedrooms | $2,049 |
| 8 Bedrooms | $2,151 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,020 | $171,224 | 0.6% | F |
| 3BR | $1,340 | $247,633 | 0.54% | F |
| 4BR | $1,460 | $353,471 | 0.41% | F |
U.S. Census Bureau data (2024)
930 is the Fair Market Rent (FMR) for ZIP code 65355, Warsaw, MO, as set for metro fiscal year 2026. 816 represents the average market rent based on Census ACS data, indicating a slight gap between the FMR and actual rental costs. 181,837 is the median home value in this area, which is relatively stable and provides a good basis for investment. 14.8% is the share of renters in the community, suggesting a moderate demand for rental properties. 50,648 is the median income level, which is important for assessing the financial health of potential tenants. 100 days is the typical duration of days on market (DOM), revealing a competitive landscape where properties take a considerable amount of time to sell. 0.2% is the rate at which homes are being price-cut, a low figure that implies strong pricing power in the local real estate market.
The Fair Market Rent of $930 aligns closely with the actual market rent of $816, making it feasible for landlords to participate in the Section 8 program without significant loss. The median home value of $181,837 offers a solid entry point for investors looking to purchase rental properties. With a renter share of 14.8%, there is a consistent pool of tenants who might be interested in Section 8 housing. The median income of $50,648 suggests that many residents could benefit from subsidized housing options, increasing the likelihood of finding qualified applicants.
A DOM of 100 days indicates a balanced market where patience is rewarded, but also where timely listing and pricing strategies can make a difference. The low price-cut share of 0.2% shows that sellers are holding firm on their asking prices, a sign of confidence in the property values and a positive indicator for long-term investments.
Based on these figures, the verdict for Section 8 participation in ZIP 65355 is favorable, given the alignment between FMR and market rents, a moderate renter population, and strong property values.
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.