Location: Hickory 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 | $730 |
| 1 Bedroom | $830 |
| 2 Bedrooms | $960 |
| 3 Bedrooms | $1,330 |
| 4 Bedrooms | $1,470 |
| 5 Bedrooms | $1,705 |
| 6 Bedrooms | $1,910 |
| 7 Bedrooms | $2,063 |
| 8 Bedrooms | $2,166 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,330 | $267,205 | 0.5% | F |
U.S. Census Bureau data (2024)
The median income in ZIP code 65650 stands at $50,194, which places significant constraints on the financial capabilities of the average household. The market rate for rent, according to Census ACS data, is $716 per month. This amount represents a substantial portion of the monthly income for residents, considering that the typical household must allocate a considerable share of their earnings to cover living expenses.
When comparing the market rate to the Federal Market Rent (FMR) standard set at $800 for ZIP code 65650 in fiscal year 2024, it becomes evident that the FMR exceeds the current market rate. This suggests that households receiving Section 8 vouchers could potentially find housing more affordable, as the voucher payment would be higher than the prevailing rent rates.
Given the ZIP code's population of 1,454 and the fact that 17.7% of these individuals are renters, the competition among landlords for tenants is relatively low. However, the affordability gap between the median income and the market rate rent indicates that many renters might struggle to pay the $716 without assistance. For landlords, this means that accepting Section 8 vouchers could provide a more stable and reliable source of income compared to relying solely on cash-paying tenants who may have difficulty affording the rent.
The takeaway for landlords is clear: focusing on Section 8 voucher tenants could offer a strategic advantage. By aligning with the voucher program, landlords ensure a steady stream of income at a rate ($800) that is above the current market rate, while also serving a demographic that might otherwise face challenges in finding affordable housing. This strategy not only benefits the landlord financially but also supports the local community by providing accessible housing options.
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.