Location: Taney County, MO | Metro: Springfield, MO HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $790 |
| 1 Bedroom | $810 |
| 2 Bedrooms | $1,050 |
| 3 Bedrooms | $1,360 |
| 4 Bedrooms | $1,540 |
| 5 Bedrooms | $1,786 |
| 6 Bedrooms | $2,000 |
| 7 Bedrooms | $2,160 |
| 8 Bedrooms | $2,268 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 65771 in fiscal year 2024 is set at $980. This figure represents the payment standard set by the U.S. Department of Housing and Urban Development (HUD) for Section 8 rental properties in this area. It's important to note that this is not the amount you can charge as rent; it's the maximum amount that the housing assistance program will pay toward a tenant's rent.
In comparison, the average market rent for ZIP 65771 is $1,549, according to the latest Census American Community Survey (ACS) data. This suggests that the local rental market is above the HUD-set FMR, indicating that landlords participating in the Section 8 program might need to adjust their expectations regarding rental income.
The renter share in ZIP 65771 is 24.4%, which means that about a quarter of the households in this area are renters. This provides a moderate level of demand for rental properties, including those under the Section 8 program. However, since the FMR is lower than the average market rent, it may be necessary to focus on the specific needs and demographics of potential Section 8 tenants to ensure steady occupancy.
When considering the acquisition of a property in this ZIP code, the median home value is approximately $378,610. This is a significant investment, and it's crucial to understand that the FMR of $980 may not cover the full cost of renting out your property. Landlords should calculate their expenses and expected income carefully to determine if participating in the Section 8 program is financially viable for them.
Before making the decision to participate in the Section 8 program, verify that the property meets all the required standards for safety, health, and habitability. The inspection process is thorough and ensures that tenants receive quality housing. If your property passes the initial inspection and you're willing to work within the constraints of the FMR, then it could be a stable option for rental income in ZIP 65771.
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.