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 | $840 |
| 1 Bedroom | $960 |
| 2 Bedrooms | $1,090 |
| 3 Bedrooms | $1,510 |
| 4 Bedrooms | $1,690 |
| 5 Bedrooms | $1,960 |
| 6 Bedrooms | $2,195 |
| 7 Bedrooms | $2,371 |
| 8 Bedrooms | $2,490 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,090 | $169,720 | 0.64% | D |
| 3BR | $1,510 | $223,149 | 0.68% | D |
U.S. Census Bureau data (2024)
800 is the Fair Market Rent (FMR) for ZIP code 65724 in Polk, MO, for fiscal year 2024, indicating the maximum amount Section 8 tenants can be expected to pay for housing. 611 is the average market rent reported by the Census Bureau's American Community Survey, showing that the FMR exceeds the typical rental rates in the area. 186,346 represents the median home value in the region, suggesting that property values are relatively stable but higher than the average rent, which could impact the desirability of renting versus buying. 10.5% is the proportion of households that are renters, a figure that underscores the limited demand for rentals compared to owner-occupied homes. 41,447 is the median income in the area, which is crucial for understanding the financial capacity of potential tenants. While the data on days on market (DOM) and the percentage of price-cut shares are not available, the disparity between the FMR and the market rent suggests that landlords may find it advantageous to participate in the Section 8 program. This conclusion is based on the fact that the FMR covers the majority of market rents, thereby ensuring steady and reliable income for landlords. The verdict for Section 8 participation in ZIP 65724 is positive, given the alignment of the FMR with prevailing market conditions and the financial stability it offers.
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.