Location: Wright County, MO | Metro: Springfield, 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 | $790 |
| 1 Bedroom | $800 |
| 2 Bedrooms | $990 |
| 3 Bedrooms | $1,350 |
| 4 Bedrooms | $1,540 |
| 5 Bedrooms | $1,786 |
| 6 Bedrooms | $2,000 |
| 7 Bedrooms | $2,160 |
| 8 Bedrooms | $2,268 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,350 | $247,364 | 0.55% | F |
U.S. Census Bureau data (2024)
The Section 8 thesis for ZIP code 65746 centers around the discrepancy between the Fair Market Rent (FMR) set at $800 for fiscal year 2024 and the actual market rent reported at $737 according to the Census ACS. This gap stands at $63, representing an 8.6% difference between the two figures.
Given that the FMR exceeds the market rent, landlords and small-portfolio investors can capitalize on this situation by attracting voucher tenants, thereby increasing their rental income yield. The higher FMR means that voucher holders can pay up to $800, which is above the current market rate. This creates an opportunity for landlords to charge closer to the FMR without significantly deterring potential tenants who have vouchers to cover the rent.
In the context of ZIP 65746, where only 16.8% of residents are renters and the median home value is $247,003, the market is relatively skewed towards homeownership. However, the median income of $55,402 suggests that a portion of the population may still struggle with housing costs, making them prime candidates for Section 8 vouchers.
Landlords should be aware that while the FMR allows for higher rents, the actual payment received might be subject to other factors such as the tenant's income, which could affect the overall profitability. Nevertheless, the gap between FMR and market rent indicates a potential yield enhancement strategy for those willing to accept voucher tenants.
To summarize, the $63 or 8.6% gap between FMR and market rent makes ZIP 65746 a favorable area for landlords looking to increase their rental income through the acceptance of Section 8 voucher tenants. This strategy leverages the higher FMR to provide a better return on investment compared to the current market conditions.
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.