Section 8 Fair Market Rent (FMR) for ZIP 65633 - 2027

Location: Stone County, MO | Metro: Barry County, MO

Investment Score for ZIP 65633

Monthly Rent (2BR)

$1,080

Median Price (2BR)

$153,920

1% Rule

0.7%

Annual Yield

8.42%

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$760
1 Bedroom	$830
2 Bedrooms	$1,080
3 Bedrooms	$1,500
4 Bedrooms	$1,780
5 Bedrooms	$2,065
6 Bedrooms	$2,313
7 Bedrooms	$2,498
8 Bedrooms	$2,623

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
2BR	$1,080	$153,920	0.7%	D
3BR	$1,500	$264,398	0.57%	F
4BR	$1,780	$373,925	0.48%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

3,952

Median Household Income

$49,349

Housing Units

1,483

Renter Percentage

25.1%

Occupancy Rate

94.0%

Renter Occupied

350

The ZIP code 65633, located in Missouri, represents a suburban area that is relatively stable and has a mix of rental and owner-occupied housing. The region benefits from being part of a larger metro area, which influences its Fair Market Rent (FMR) and other economic indicators.

The Fair Market Rent (FMR) for a two-bedroom apartment in the metro area for fiscal year 2026 is set at $1,130.
The average market rent for properties in ZIP 65633, according to Census ACS data, is $715. This indicates a significant gap between the actual rents and the FMR, suggesting potential for rent increases without losing tenants.
The median home value in the area stands at $242,225, which reflects a moderate housing market where both renters and homeowners can find affordable options.
Renters make up 25.1% of the population, indicating a solid demand for rental properties. However, this percentage also implies a sizeable homeowner base, which could influence property values and rental trends.
The median household income in the ZIP code is $49,349. This figure suggests that while there is sufficient income to support rental payments, it also points to a demographic that might be price-sensitive, favoring properties that offer good value for money.
The Days on Market (DOM) for properties is not available, which means there's no direct data on how quickly homes are selling or renting. This lack of information could be due to low activity levels or recent changes in the local real estate market.

Investors looking to enter the ZIP 65633 market should focus on properties that can command rents close to the FMR, given the current market rent is significantly lower. With a quarter of the population renting, there is a consistent demand for affordable housing, but investors must be cautious about setting rent prices too high, considering the median income level. Moderate home values indicate that the area is neither overpriced nor underpriced, offering a balanced opportunity for both purchasing and renting out properties. The absence of DOM data should be addressed by gathering local insights or consulting real estate agents to understand the current pace of transactions and adjust investment strategies accordingly.

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.