Location: Stone County, MO | Metro: Springfield, MO HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $830 |
| 1 Bedroom | $870 |
| 2 Bedrooms | $1,110 |
| 3 Bedrooms | $1,530 |
| 4 Bedrooms | $1,800 |
| 5 Bedrooms | $2,088 |
| 6 Bedrooms | $2,339 |
| 7 Bedrooms | $2,526 |
| 8 Bedrooms | $2,652 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP 65754 in fiscal year 2024 is set at $980. This figure represents the payment standard used by the U.S. Department of Housing and Urban Development (HUD) for the Section 8 housing assistance program, also known as the Housing Choice Voucher Program. It's important to note that this is not the amount your tenants will pay in rent; rather, it's the maximum amount HUD will reimburse landlords for rent and utilities.
In ZIP 65754, the local market rent for a similar unit is currently listed as N/A, which suggests there might be limited data available on typical rental prices in this area. However, the FMR of $980 can serve as a benchmark to ensure you're setting your rent within a reasonable range that aligns with federal guidelines.
The 0.0% renter share indicates that there is no portion of the rent that must be paid by the tenant out-of-pocket. In other words, all eligible tenants will have their rent fully covered by the voucher program, up to the FMR limit. This could imply a high demand for affordable housing units in ZIP 65754, as potential tenants might be eager to secure a place where they don't need to contribute additional funds beyond what the voucher covers.
The acquisition cost for properties in this area is also noted as N/A, suggesting that there isn't enough data to provide a precise figure. However, this does not necessarily mean there is a lack of opportunity. Before making a final decision to participate in the Section 8 program with a property in ZIP 65754, it is crucial to verify that your rental unit meets all the required quality standards set by HUD. These standards ensure that the property is safe, decent, and sanitary, which is non-negotiable for participation in the program.
To summarize, the FMR of $980 sets a clear guideline for the maximum reimbursement rate you can expect from HUD. The absence of local market rent data and acquisition cost figures should prompt you to conduct further research on local rental trends and property values. Most importantly, ensure your property complies with HUD's quality standards to avoid any complications once you've enrolled in the Section 8 program.
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.