Location: Howell County, MO | Metro: Howell County, MO
| Unit Size | Monthly FMR |
|---|---|
| Studio | $670 |
| 1 Bedroom | $740 |
| 2 Bedrooms | $960 |
| 3 Bedrooms | $1,310 |
| 4 Bedrooms | $1,610 |
| 5 Bedrooms | $1,868 |
| 6 Bedrooms | $2,092 |
| 7 Bedrooms | $2,259 |
| 8 Bedrooms | $2,372 |
U.S. Census Bureau data (2024)
A household in ZIP code 65789, with a median income of $57,083, faces significant challenges in affording the market rate rent of $708. This disparity highlights the financial strain renters experience, as their income is insufficient to meet the current rental costs without assistance.
The situation becomes even more pronounced when compared to the Federal Market Rent (FMR) standard of $890 for the metro area in fiscal year 2026. The FMR represents the maximum amount that housing authorities can pay landlords on behalf of tenants receiving Section 8 vouchers. Given that the FMR exceeds both the median income and market rate rent, it underscores the limited options available to renters in this area.
With only 16.1% of the 1,555 population being renters, the competition among landlords is likely to be intense. Landlords must carefully consider their strategy to attract and retain tenants, especially those relying on Section 8 vouchers.
Landlords should recognize that accepting vouchers can provide a steady stream of income, albeit at a lower rate than market rents. However, the demand for affordable housing suggests that voucher holders may be more reliable tenants due to the stability provided by the government subsidy. For landlords looking to maximize occupancy and long-term profitability, integrating voucher acceptance into their rental strategy could be beneficial.
In summary, landlords in ZIP 65789 should weigh the benefits of accepting Section 8 vouchers against the potential for higher market rate rents. The affordability gap means that while cash-paying tenants might offer more immediate financial gain, the reliability and security offered by voucher holders could be a strategic advantage in a competitive market.
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.