Section 8 Fair Market Rent (FMR) for ZIP 65732 - 2027

Location: Hickory County, MO | Metro: Dallas County, MO HUD Metro FMR Area

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$710
1 Bedroom	$860
2 Bedrooms	$960
3 Bedrooms	$1,330
4 Bedrooms	$1,440
5 Bedrooms	$1,670
6 Bedrooms	$1,870
7 Bedrooms	$2,020
8 Bedrooms	$2,121

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

1,342

Median Household Income

$45,909

Housing Units

515

Renter Percentage

12.8%

Occupancy Rate

94.4%

Renter Occupied

The ZIP code 65732, located in a rural area of Missouri, presents a stable but modest real estate market. With limited economic diversification, the housing demand is primarily driven by local employment opportunities and the availability of affordable homes.

The Fair Market Rent (FMR) for ZIP 65732 is set at $800 for the fiscal year 2024, indicating the benchmark rental price for a two-bedroom apartment as determined by HUD.
The average market rent for properties in this area, according to the latest Census ACS data, stands at $577, suggesting that rental prices are below the FMR and may offer some flexibility for landlords.
The median home value in ZIP 65732 is $249,546, which is relatively low compared to urban areas, making it attractive for first-time buyers and investors looking for entry-level property values.
Renters make up 12.8% of the housing market, reflecting a predominantly owner-occupied community. This can be interpreted as a lower risk of tenant turnover but also a smaller pool of potential renters.
The median income in the area is $45,909, which is below the national average, pointing to a market where affordability is a significant factor for both homeowners and renters.
Due to the limited data available, the days on market (DOM) for rental listings is not specified, but it's reasonable to expect a moderate to slow rental market given the rural setting and the economic profile of the area.

In summary, ZIP 65732 offers a niche market for investors who are willing to engage in a slower-paced, rural real estate environment. The gap between the FMR and the actual market rent suggests potential for modest rental income growth. However, the lower median income implies that rental rates must remain competitive to attract tenants. For landlords and small-portfolio investors, focusing on affordability and maintaining properties at or slightly above the median home value could be strategic, ensuring a steady stream of income without overextending the local market's capacity to pay higher rents.

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.