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 | $900 |
| 1 Bedroom | $920 |
| 2 Bedrooms | $1,100 |
| 3 Bedrooms | $1,520 |
| 4 Bedrooms | $1,770 |
| 5 Bedrooms | $2,053 |
| 6 Bedrooms | $2,299 |
| 7 Bedrooms | $2,483 |
| 8 Bedrooms | $2,607 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,100 | $261,894 | 0.42% | F |
| 3BR | $1,520 | $306,475 | 0.5% | F |
| 4BR | $1,770 | $417,887 | 0.42% | F |
U.S. Census Bureau data (2024)
The ZIP code 65648 in Greene County, Missouri, stands out due to its relatively low number of renters at 19.5%, which contrasts sharply with the national average of around 35%. This ZIP has a total of 5,861 residents, with a median income of $86,850 and a median home value of $309,606. These figures suggest a predominantly owner-occupied area where homeownership is more common than rental living.
When it comes to Section 8 vouchers, the Fair Market Rent (FMR) for ZIP 65648 in fiscal year 2024 is set at $820. In comparison, the market rent, based on Census American Community Survey data, is $943. This indicates that landlords who accept Section 8 vouchers might be receiving slightly below-market rents, though the difference is not substantial enough to deter all landlords. The gap between FMR and market rent suggests that landlords should carefully consider their costs and potential returns before deciding to accept Section 8 tenants.
The data signature for ZIP 65648 reads as stable. With a median income that supports the median home value, there's little indication of significant economic transition. The low percentage of renters further reinforces the stability, as it implies a strong foundation of homeowners who are likely to remain in the area long-term. However, the slight disparity between FMR and market rent shows that while the rental market is steady, it may not be as robust as in areas with higher percentages of renters. Landlords should continue to monitor local economic indicators and rental trends to ensure they make informed decisions about accepting Section 8 vouchers.
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.