Location: Stone County, MO | Metro: Springfield, MO HUD Metro FMR Area
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 | $790 |
| 1 Bedroom | $800 |
| 2 Bedrooms | $990 |
| 3 Bedrooms | $1,350 |
| 4 Bedrooms | $1,560 |
| 5 Bedrooms | $1,810 |
| 6 Bedrooms | $2,027 |
| 7 Bedrooms | $2,189 |
| 8 Bedrooms | $2,298 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $990 | $224,801 | 0.44% | F |
| 3BR | $1,350 | $346,318 | 0.39% | F |
U.S. Census Bureau data (2024)
The ZIP code 65610, located in Billings, Missouri, has a population of 5,561 residents. Only 6.0% of these residents are renters, indicating that this area is primarily dominated by homeowners rather than renters. This low percentage of renters suggests that the demand for housing vouchers, such as those provided through the Section 8 program, is likely to be relatively scarce.
The median household income in ZIP 65610 is $77,155, which provides a context for assessing the affordability of typical rents. The market rent for the area is $858 per month. To put this into perspective, the monthly rent constitutes approximately 12.4% of the median annual household income when calculated as follows: ($858 / $77,155) * 12 = 12.4%. This figure shows that rent is a significant but manageable portion of the average income, suggesting that while it is a considerable expense, most residents can afford it without substantial financial strain.
The Fair Market Rent (FMR) for ZIP 65610 is set at $880 for fiscal year 2024, slightly higher than the current market rent of $858. This indicates that the rental market in Billings, MO, is somewhat below the federally determined fair market rate, potentially making it an attractive location for both landlords and tenants seeking affordable housing options.
In terms of the tenant profile, landlords in ZIP 65610 should expect a mix of low-income individuals who might benefit from housing vouchers and middle-income earners who can afford market rates. However, given the low percentage of renters, the number of Section 8 tenants will likely be limited. Landlords should prepare for tenants who are generally financially stable and capable of paying market rent, with some possibly requiring assistance through government programs due to the high cost of living relative to their income.
To conclude, while ZIP 65610 is not a renter-heavy area, it offers opportunities for landlords to attract tenants who can afford the market rent, with a slight possibility of accommodating those who rely on housing vouchers. The combination of a moderate rental market and a relatively high median income makes this ZIP code a suitable location for landlords and small-portfolio investors looking for a balanced investment environment.
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.