Location: Springfield, 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 | $960 |
| 1 Bedroom | $970 |
| 2 Bedrooms | $1,180 |
| 3 Bedrooms | $1,630 |
| 4 Bedrooms | $1,870 |
| 5 Bedrooms | $2,169 |
| 6 Bedrooms | $2,429 |
| 7 Bedrooms | $2,623 |
| 8 Bedrooms | $2,754 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,180 | $247,742 | 0.48% | F |
| 3BR | $1,630 | $287,086 | 0.57% | F |
| 4BR | $1,870 | $442,189 | 0.42% | F |
U.S. Census Bureau data (2024)
The economics of Section 8 in ZIP code 65757, located in Strafford, Missouri, within Greene County, revolve around the SAFMR (Small Area Fair Market Rent) for a two-bedroom apartment, which is set at $1000 for fiscal year 2024. This SAFMR figure is specific to this ZIP code and reflects the unique rental market conditions here.
The local market rent for a two-bedroom unit, based on Census ACS data, is $998. This is nearly identical to the SAFMR, indicating that the rental rates in this area are closely aligned with the federal guidelines.
A Section 8 voucher is designed to cover the difference between the tenant's contribution and the total rent. The tenant is required to pay 30% of their adjusted income toward the rent. If we assume an average adjusted income for a household in this area, let's say $1500 per month, then the tenant would contribute $450 towards the rent ($1500 * 30%).
The voucher program will then cover the remaining amount up to the SAFMR. In this case, it would reimburse the landlord $550 ($1000 - $450). However, the actual reimbursement can vary based on the tenant's income and any utility allowances.
Utility allowances are additional funds provided by the housing authority to help cover the cost of utilities. These allowances are not included in the SAFMR but are added to the voucher payment. For instance, if the utility allowance for a two-bedroom unit is $150, the landlord would receive an additional $150 on top of the $550 base reimbursement.
In summary, for a two-bedroom unit in ZIP code 65757, the landlord can expect a reimbursement of $550 plus any applicable utility allowances, such as $150, making the total reimbursement $700. Given the SAFMR of $1000, there is a surplus of $300 when considering the local market rent of $998. This means landlords can potentially charge slightly above the market rate without losing out on the total rental income.
To clarify, the typical reimbursement gap or surplus for a two-bedroom voucher in this area is a surplus of $2 ($1000 - $998), meaning landlords can maintain a competitive edge in pricing while still receiving full reimbursement from the voucher program.
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.