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 | $830 |
| 1 Bedroom | $860 |
| 2 Bedrooms | $1,130 |
| 3 Bedrooms | $1,560 |
| 4 Bedrooms | $1,800 |
| 5 Bedrooms | $2,088 |
| 6 Bedrooms | $2,339 |
| 7 Bedrooms | $2,526 |
| 8 Bedrooms | $2,652 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,560 | $217,224 | 0.72% | D |
| 4BR | $1,800 | $273,752 | 0.66% | D |
| 5BR | $2,088 | $310,948 | 0.67% | D |
U.S. Census Bureau data (2024)
In ZIP code 65584, the Section 8 economics are straightforward. The SAFMR (Section 8 Area Fair Market Rent) for a two-bedroom apartment is set at $1,040 per month for FY 2026. This is the maximum amount that the housing authority will pay on behalf of a tenant. However, the local market rent, measured by ZORI (Zillow Observed Rent Index), stands at $1,164 per month. Let's break down what this means for landlords.
The SAFMR is specifically tailored to the conditions of ZIP 65584, ensuring that it reflects the local rental market accurately. When a tenant uses a Section 8 voucher, they typically contribute 30% of their adjusted income towards rent. For example, if a tenant's adjusted income is $1,500 per month, they would contribute $450 towards the rent. The housing authority then covers the difference up to the SAFMR limit.
To illustrate, let's assume the total rent for a two-bedroom apartment is $1,040. If the tenant contributes $450, the housing authority will cover the remaining $590. It's important to note that this calculation does not include utilities, which have their own allowance separate from the rent. The utility allowance varies but is generally around $200-$300 per month, depending on the specifics of the household and the type of utilities required.
This structure ensures that landlords receive a steady, government-backed payment for their units, but it also means that rents above the SAFMR may not be fully covered by the voucher program. In ZIP 65584, where the market rent exceeds the SAFMR by $124, landlords accepting Section 8 vouchers will face a monthly reimbursement gap of $124.
For landlords, this gap can be mitigated by adjusting the rent slightly below the market rate or by considering other benefits such as lower vacancy rates and stable rental income. However, it's crucial to understand the economic realities of the program when deciding whether to participate. In summary, for a two-bedroom apartment in ZIP 65584, landlords should expect a reimbursement gap of $124 per month, given the current SAFMR and ZORI figures.
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.