Location: Polk 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 | $1,040 |
| 1 Bedroom | $1,040 |
| 2 Bedrooms | $1,270 |
| 3 Bedrooms | $1,760 |
| 4 Bedrooms | $2,020 |
| 5 Bedrooms | $2,343 |
| 6 Bedrooms | $2,624 |
| 7 Bedrooms | $2,834 |
| 8 Bedrooms | $2,976 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,270 | $232,046 | 0.55% | F |
| 3BR | $1,760 | $258,550 | 0.68% | D |
| 4BR | $2,020 | $326,488 | 0.62% | D |
U.S. Census Bureau data (2024)
A skeptical investor might question whether the Fair Market Rent (FMR) of $1,020 for ZIP 65781 in fiscal year 2024 would sufficiently cover the mortgage on a home valued at $273,893. According to recent data, the median sales price in Willard is around $283,236, indicating that a home in this price range would likely have a monthly mortgage payment within the realm of possibility for being covered by the FMR.
Another concern could be the level of renter demand, which stands at 21.5%. This figure suggests that there is a reasonable amount of demand but also indicates that competition among landlords could be significant. It is important to note that the current inventory of homes for rent is high, with 197 properties listed, reflecting a competitive rental market.
The final objection might revolve around whether voucher programs will keep pace with the market rents of approximately $1,035. While the FMR is slightly below the market rent, the difference is minimal, suggesting that voucher holders could still find affordable housing options in the area. However, it is crucial to monitor any changes in the voucher program and market rents to ensure sustained profitability.
In summary, while there are valid concerns regarding the coverage of mortgage payments by FMR, the level of renter demand, and the alignment of voucher programs with market rents, the data indicates that Willard, MO remains a viable investment opportunity for landlords and small-portfolio investors. The close alignment between FMR and market rents, along with a moderate level of renter demand, supports this conclusion. However, ongoing monitoring of market conditions is recommended.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.