Location: Pulaski County, MO | Metro: Pulaski 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 | $850 |
| 1 Bedroom | $890 |
| 2 Bedrooms | $1,160 |
| 3 Bedrooms | $1,610 |
| 4 Bedrooms | $1,840 |
| 5 Bedrooms | $2,134 |
| 6 Bedrooms | $2,390 |
| 7 Bedrooms | $2,581 |
| 8 Bedrooms | $2,710 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,610 | $233,068 | 0.69% | D |
| 4BR | $1,840 | $285,354 | 0.64% | D |
| 5BR | $2,134 | $334,155 | 0.64% | D |
U.S. Census Bureau data (2024)
The Section 8 program's financial viability in ZIP code 65583 is contingent upon the relationship between the Fair Market Rent (FMR) and the actual market rent. For fiscal year 2026, the FMR is set at $1,050, while the Zillow Observed Rent Index (ZORI) indicates that the average market rent stands at $1,003. This means the FMR is $47 higher than the market rent, representing a 4.7% premium.
The gap between the FMR and the market rent makes ZIP 65583 a compelling location for landlords and small-portfolio investors seeking to maximize their yields. Voucher tenants, who are guaranteed to pay the FMR, effectively provide a buffer against the natural fluctuations in rental demand. In essence, landlords can expect a stable income stream that is slightly above the prevailing market rate, without the risks associated with finding non-voucher tenants willing to pay a premium.
Given the broader context of the area, where 32.9% of residents are renters and the median home value is $242,277, it is clear that the local real estate market is diverse but leans towards affordability. The median household income of $76,626 further supports the notion that many renters rely on assistance programs such as Section 8 to find suitable housing. This demographic makeup ensures a steady pool of potential voucher tenants, making the ZIP code an attractive option for those interested in the long-term stability that comes with government-backed rental payments.
In conclusion, the $47 premium, or 4.7%, offered by the Section 8 program over the current market rent in ZIP 65583 presents a unique opportunity for landlords and small-portfolio investors. It allows them to capitalize on a yield play while serving a community where housing affordability is a significant concern. The combination of the FMR being higher than the market rent and the socioeconomic profile of the area underscores the attractiveness of this ZIP code for Section 8 investments.
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.