Section 8 Fair Market Rent (FMR) for ZIP 65809 - 2027

Location: Springfield, MO | Metro: Springfield, MO HUD Metro FMR Area

Investment Score for ZIP 65809

Monthly Rent (2BR)

$1,140

Median Price (2BR)

$294,471

1% Rule

0.39%

Annual Yield

4.65%

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$930
1 Bedroom	$940
2 Bedrooms	$1,140
3 Bedrooms	$1,580
4 Bedrooms	$1,810
5 Bedrooms	$2,100
6 Bedrooms	$2,352
7 Bedrooms	$2,540
8 Bedrooms	$2,667

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
2BR	$1,140	$294,471	0.39%	F
3BR	$1,580	$353,760	0.45%	F
4BR	$1,810	$479,598	0.38%	F
5BR	$2,100	$601,529	0.35%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

11,384

Median Household Income

$111,364

Housing Units

4,849

Renter Percentage

16.7%

Occupancy Rate

97.3%

Renter Occupied

786

The ZIP code 65809 in Springfield, MO, is a bustling suburban area that offers a mix of residential and commercial properties. Known for its family-friendly neighborhoods and proximity to downtown amenities, it presents a viable investment opportunity for landlords and small-portfolio investors looking to tap into a stable rental market.

Fair Market Rent (FMR): The FMR for a two-bedroom apartment in ZIP 65809 for fiscal year 2024 is set at $1040, indicating a solid baseline for rental pricing.
Market Rent: According to the latest Census American Community Survey (ACS), the average market rent for a similar unit is $977, suggesting that properties priced around or slightly above this figure will attract tenants.
Median Home Value: The median home value in the area stands at $444,517, reflecting a relatively affluent community where homeownership is common but not exclusive.
Renter Share: Renters make up 16.7% of the housing stock, which means there's a moderate demand for rental units, balanced against a strong homeownership base.
Days on Market (DOM): Properties typically spend 26 days on the market before securing a tenant, a figure that underscores a reasonably quick turnaround time for rentals.
Median Income: With a median household income of $111,364, residents have the financial capacity to afford higher rents and mortgage payments, making the area attractive for both rental and purchase investments.

Investors should note the discrepancy between the Fair Market Rent and the actual market rent, suggesting potential for slight rent increases without alienating tenants. The low DOM indicates a competitive rental market, while the high median income supports the stability of rent payments and property values. Despite a lower renter share, the overall economic health of the area ensures a steady demand for rental properties, particularly those that offer quality living spaces at fair prices.

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.