Location: Laclede County, MO | Metro: Dallas County, MO HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $710 |
| 1 Bedroom | $740 |
| 2 Bedrooms | $960 |
| 3 Bedrooms | $1,280 |
| 4 Bedrooms | $1,580 |
| 5 Bedrooms | $1,833 |
| 6 Bedrooms | $2,053 |
| 7 Bedrooms | $2,217 |
| 8 Bedrooms | $2,328 |
U.S. Census Bureau data (2024)
The median income in ZIP code 65722 stands at $48,378, which places significant constraints on the ability of households to afford the market rate rent of $641 per month. This figure represents the actual rental cost that tenants might face in the area, according to Census ACS data. However, when comparing this to the Fair Market Rent (FMR) standard set at $800 for fiscal year 2024, it becomes evident that there is a notable disparity. The FMR, which is the amount the government pays to landlords through housing vouchers, exceeds the market rate by $159 per month.
Given that only 18.3% of the population are renters and the total population is 1,391, the competition among landlords for tenants who can pay the market rate is likely to be fierce. The affordability gap means that many potential renters may struggle to cover the costs without assistance, leading them to seek subsidized housing options. As a result, landlords who accept housing vouchers could have an advantage in securing tenants over those who rely solely on market-rate rents.
The takeaway for landlords considering their strategy is clear: accepting housing vouchers can provide a steady stream of income that is higher than the current market rate. This approach may help landlords attract tenants in an area where a substantial portion of the population cannot afford the going rental rates. While accepting vouchers comes with its own set of rules and regulations, the financial benefit of receiving $800 versus the $641 market rate makes it a compelling option for maximizing profitability.
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.