FMR is near market; voucher and private rents are aligned.
0.91
1 BR
1 BR
0.91ratio
FMR$860
Market$940
vs market-$80
FMR is near market; voucher and private rents are aligned.
0.91
2 BR
2 BR
1.03ratio
FMR$1,100
Market$1,070
vs market+$30
FMR is near market; voucher and private rents are aligned.
1.03
3 BR
3 BR
1.24ratio
FMR$1,410
Market$1,140
vs market+$270
FMR is above market; underwrite to market rent.
1.24
4 BR
4 BR
1.34ratio
FMR$1,630
Market$1,220
vs market+$410
FMR is above market; underwrite to market rent.
1.34
0.700.800.901.001.101.201.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--
ZIP 64508 fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 64508 (Saint Joseph, MO) is $1,100 a month. That is up 1.9% from $1,080 in FY 2026. Saint Joseph is in the St. Joseph, MO-KS MSA. HUD also publishes the ZIP-level Small Area FMRs shown here, but unless the local housing authority has adopted them, vouchers are based on the metro-wide two-bedroom FMR of $1,101. Among 19 ZIP codes in Buchanan County, 64508 is tied for the 7th-highest two-bedroom rent (county range $1,030–$1,650). The median county two-bedroom FMR in Missouri is $962, so ZIP 64508 is 14% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for 64508
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$780
$850
+9.0%
$765–$935
1BR
$830
$860
+3.6%
$774–$946
2BR
$1,080
$1,100
+1.9%
$990–$1,210
3BR
$1,370
$1,410
+2.9%
$1,269–$1,551
4BR
$1,570
$1,630
+3.8%
$1,467–$1,793
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for 64508
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$850
$860
$1,100
$1,410
$1,630
FY 2026
$780
$830
$1,080
$1,370
$1,570
FY 2025
$710
$790
$1,040
$1,320
$1,480
FY 2024
$660
$740
$970
$1,230
$1,340
FY 2023
$600
$680
$900
$1,170
$1,260
Two-bedroom rent in nearby Buchanan County ZIP codes
How much will Section 8 pay for a two-bedroom in ZIP 64508?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,101, which applies unless the housing authority uses Small Area FMRs, that basic range is $991 to $1,211 a month; under the ZIP-level Small Area FMR of $1,100 it would be $990 to $1,210. The voucher pays the lower of the payment standard or the gross rent, minus the tenant's share, which is usually about 30% of adjusted monthly income. Confirm the local housing authority's current schedule before underwriting.
Which HUD fair market rent area is ZIP 64508 in?
ZIP 64508 is in the St. Joseph, MO-KS MSA. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,101.
How much did fair market rent change in ZIP 64508 for FY 2027?
The two-bedroom FMR rose 1.9%, from $1,080 in FY 2026 to $1,100 in FY 2027. Since FY 2023 it has risen 22.2%.
When do FY 2027 fair market rents take effect?
HUD's FY 2027 fair market rents took effect on October 1, 2026. When FMRs change, housing authorities generally have up to three months to bring payment standards back within 90% to 110% of the new FMR.
Source: HUD FY 2027 Small Area Fair Market Rents and area FMRs. Payment-standard ranges are 90% to 110% of FMR, HUD's basic range, not a housing authority's published schedule. How payment standards are set