Location: Phelps County, MO | Metro: Dent 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 | $780 |
| 1 Bedroom | $800 |
| 2 Bedrooms | $1,000 |
| 3 Bedrooms | $1,330 |
| 4 Bedrooms | $1,410 |
| 5 Bedrooms | $1,636 |
| 6 Bedrooms | $1,832 |
| 7 Bedrooms | $1,979 |
| 8 Bedrooms | $2,078 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $800 | $136,105 | 0.59% | F |
| 2BR | $1,000 | $156,775 | 0.64% | D |
| 3BR | $1,330 | $234,934 | 0.57% | F |
| 4BR | $1,410 | $318,684 | 0.44% | F |
| 5BR | $1,636 | $400,099 | 0.41% | F |
U.S. Census Bureau data (2024)
The rental market in Rolla, Missouri (ZIP 65401) presents a unique challenge for households. The median income stands at $56,081, which is insufficient to comfortably cover the $851 market rate (ZORI) for housing. This gap highlights the financial strain on many residents who must allocate a significant portion of their earnings towards rent.
In comparison, the Housing Choice Voucher Program offers a more generous payment standard, set at $930 per month for the metro area in fiscal year 2026 (FMR). This means that voucher holders can potentially secure housing that might otherwise be out of reach for cash-paying tenants. Given the median income, it becomes evident that many residents would benefit from such assistance to meet the local rental costs.
With 44.5% of the population being renters and a total population of 32,714, the competition among landlords is notable. The affordability gap suggests that landlords may find it difficult to attract and retain cash-paying tenants who struggle to meet the market rate. On the other hand, properties that accept vouchers could see an influx of tenants, as the voucher payment standard is closer to the actual market rate.
The takeaway for landlords is clear: accepting vouchers can be a strategic move to ensure steady occupancy and income. While the voucher payment standard is slightly above the market rate, it provides a reliable source of revenue and helps fill units that might otherwise remain vacant due to the high cost of living relative to income levels. Landlords should weigh the benefits of guaranteed payments against the potential administrative complexities of working with the voucher program.
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.