Location: Polk County, MO | Metro: Polk County, 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 | $790 |
| 2 Bedrooms | $980 |
| 3 Bedrooms | $1,360 |
| 4 Bedrooms | $1,540 |
| 5 Bedrooms | $1,786 |
| 6 Bedrooms | $2,000 |
| 7 Bedrooms | $2,160 |
| 8 Bedrooms | $2,268 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $980 | $165,783 | 0.59% | F |
| 3BR | $1,360 | $255,576 | 0.53% | F |
| 4BR | $1,540 | $357,088 | 0.43% | F |
| 5BR | $1,786 | $457,899 | 0.39% | F |
U.S. Census Bureau data (2024)
A skeptical investor considering Bolivar, MO (ZIP 65613) might question whether the Fair Market Rent (FMR) of $800 for the fiscal year 2024 will adequately cover the mortgage on a $261,308 home. According to mortgage calculators, a 30-year fixed-rate mortgage on a home of that value, assuming a 20% down payment and a current average rate of around 5%, would result in a monthly payment of approximately $1,200. This includes principal, interest, taxes, and insurance. Therefore, the FMR of $800 would not fully cover the mortgage, leaving a significant shortfall of roughly $400 per month.
The investor might also wonder if there is sufficient renter demand at 34.2%. Based on the data, there are currently 24 single-family homes listed for rent on Zillow, indicating a moderate level of demand. However, the number of rental properties available does not necessarily reflect the occupancy rate or the willingness of potential tenants to pay $800 per month. Additional research into local rental trends and vacancy rates would be necessary to fully assess the demand scenario.
A final concern could be whether Housing Choice Vouchers will keep pace with market rents of $699. HUD calculates FMRs annually, but the actual utilization of vouchers can vary widely. In ZIP 65613, the median gross rent is expected to remain stable at $699, which is close to the FMR. However, the effectiveness of vouchers in covering market rents depends on the income levels of voucher recipients and the administrative efficiency of the local housing authority. Without specific data on voucher usage and success rates in this area, it is difficult to conclusively state that vouchers will consistently meet market rents.
To summarize, while the FMR of $800 falls short of covering the mortgage on a $261,308 home, there is some evidence of renter demand. However, the adequacy of Housing Choice Vouchers in meeting market rents remains uncertain without further detailed analysis of local conditions.
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.