Location: Polk 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 | $880 |
| 1 Bedroom | $890 |
| 2 Bedrooms | $1,090 |
| 3 Bedrooms | $1,510 |
| 4 Bedrooms | $1,730 |
| 5 Bedrooms | $2,007 |
| 6 Bedrooms | $2,248 |
| 7 Bedrooms | $2,428 |
| 8 Bedrooms | $2,549 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,510 | $315,507 | 0.48% | F |
U.S. Census Bureau data (2024)
ZIP 65617 in Polk County, Missouri, is best suited as a cash-flow anchor within a Section 8 portfolio strategy. This designation is based on the substantial spread between the Fair Market Rent (FMR) and the market rent, which benefits landlords who participate in the Section 8 program.
The HUD Metro FMR for a one-bedroom unit in ZIP 65617 for fiscal year 2024 is set at $920. In contrast, the current market rent for a similar unit is approximately $782. This means that landlords participating in the Section 8 program can expect to receive a higher rental income compared to what they might earn in the open market, ensuring steady and reliable cash flow.
The median home value in ZIP 65617 is $312,101, indicating a relatively stable housing market. However, the focus for a Section 8 portfolio should be on the rental income rather than property appreciation. The price-cut share and days on market (DOM) metrics are not applicable here, as they pertain more to the buying and selling of properties rather than their rental performance under Section 8.
The 11.6% renter share suggests that while there is a significant portion of renters in the area, it is not overwhelmingly high. The median household income of $76,488 also supports the idea that this ZIP code is more about providing consistent cash flow rather than being a diversification play. Diversifiers typically target areas with lower incomes and higher renter shares to spread risk across different demographics and market conditions.
In summary, ZIP 65617 serves as an excellent cash-flow anchor due to the favorable difference between the FMR and market rent. Landlords and small-portfolio investors can leverage this discrepancy to ensure a steady stream of income, which is crucial for maintaining financial stability and growth in their overall investment strategy.
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.