Location: Wright County, MO | Metro: Douglas County, MO
| Unit Size | Monthly FMR |
|---|---|
| Studio | $710 |
| 1 Bedroom | $740 |
| 2 Bedrooms | $960 |
| 3 Bedrooms | $1,280 |
| 4 Bedrooms | $1,440 |
| 5 Bedrooms | $1,670 |
| 6 Bedrooms | $1,870 |
| 7 Bedrooms | $2,020 |
| 8 Bedrooms | $2,121 |
U.S. Census Bureau data (2024)
The ZIP code 65702 presents several challenges for landlords considering Section 8 investments. First, tenant turnover could be problematic due to the disparity between the market rent and the Fair Market Rent (FMR) of $890 for fiscal year 2026 in the metro area. This gap suggests that tenants might find it difficult to cover the difference if market rents rise above the FMR. Second, there is significant exposure to vacancy, especially given the lack of data on days on market (DOM), which indicates an uncertainty around how quickly properties can be filled. Third, the potential for deferred maintenance is high, considering the median income of $62,301. Tenants with lower incomes might struggle to contribute to maintenance costs, leading to higher out-of-pocket expenses for landlords.
However, these risks must be weighed against the high concentration of renters in the area, with a 10.1% renter share. High renter density typically correlates with increased demand for housing vouchers, which can stabilize occupancy rates and provide a steady stream of rental income. The presence of many renters also suggests a vibrant rental market, which can be beneficial for landlords who are prepared to navigate the complexities of Section 8 tenancy.
Verdict: Moderate risk for a first-time Section 8 landlord.
Data Sources: FMR data from HUD (2027). 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.