Location: Springfield, MO | Metro: Springfield, MO HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $910 |
| 1 Bedroom | $920 |
| 2 Bedrooms | $1,120 |
| 3 Bedrooms | $1,550 |
| 4 Bedrooms | $1,780 |
| 5 Bedrooms | $2,065 |
| 6 Bedrooms | $2,313 |
| 7 Bedrooms | $2,498 |
| 8 Bedrooms | $2,623 |
920 is the Fair Market Rent (FMR) for ZIP 65808 in Springfield, MO, for fiscal year 2024. This figure represents the maximum amount that a landlord can charge for a Section 8 voucher in this area. The lack of specific market rent data suggests that the local rental market may not have robust reporting mechanisms, but the FMR provides a reliable benchmark for pricing units. The median home value is also not available, indicating a diverse mix of properties and values within the ZIP code. Without a precise renter share percentage, it's difficult to gauge the exact proportion of renters in the community, though the presence of Section 8 vouchers implies a significant rental market. The median income data being unavailable means that we cannot directly assess the financial capacity of potential residents, but the FMR gives insight into the affordability range.
The average days on market (DOM) and the percentage of price-cut share are both marked as N/A, which could indicate either a stable market where prices rarely fluctuate or a lack of detailed transaction data. In either case, the absence of these figures does not detract from the utility of the FMR for setting rental prices. Landlords and small-portfolio investors should focus on the 920 FMR to ensure their properties remain competitive and attractive to Section 8 participants. This will help maintain occupancy rates and stabilize cash flows.
A final consideration is the recent trend in housing prices, which is also not provided. However, the FMR can serve as a proxy for assessing the overall cost of living and rental trends. Given the data, the Section 8 program remains a viable option for landlords in ZIP 65808, offering a consistent source of rental income.
Verdict: The Section 8 program in ZIP 65808 offers stability and predictability for landlords, with the 920 FMR serving as a key pricing benchmark.Data Sources: FMR data from HUD (2027).
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.