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Phelps County/Lenox/65541

65541

ZIPSAFMR
Phelps County, MO
Zillow

ZIP Investment Score

83Below average

095130300
BRFMR
Eff. Rent
0 BR$740$740
1 BR$770$770
2 BR$990$990
3 BR$1,230$1,230
4 BR$1,460$1,460
5 BR$1,679Not available
6 BR$1,931Not available
7 BR$2,220Not available
8 BR$2,554Not available

Purchase Price Calculator

Maximum purchase price
$85,197

Cost breakdown

+Likely effective rent$990
HUD FMRUsed$990
Market rentN/A
Est. payment standardN/A
-Principal and interest-$431
Loan amount$68,158
Down payment$17,039
Rate6.50%
Term30 years
-Operating costs-$359
Property taxes-$85
Insurance-$175
Utilities$0
HOA$0
Management-$99
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$16,193(95.0% ROI)
Projected value
$91,748
Return breakdown
Property appreciation+$6,551
Loan principal paid down+$2,442
Rental cash flow+$7,200
5-year hold
+$27,550(161.7% ROI)
Projected value
$96,393
Return breakdown
Property appreciation+$11,196
Loan principal paid down+$4,355
Rental cash flow+$12,000
10-year hold
+$58,239(341.8% ROI)
Projected value
$109,059
Return breakdown
Property appreciation+$23,862
Loan principal paid down+$10,376
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Not enough rental comps in this area to determine how FMR aligns with current market rates.

Historical
FY 2023-2027
FMR
FY2027
Property value
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Tax rate
--
Mortgage rate
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ZIP 65541 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 65541 (Lenox, MO) is $990 a month. That is up 10.0% from $900 in FY 2026. Lenox is in the Phelps County, MO non-metropolitan FMR area. 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 county-wide two-bedroom FMR of $973. Among 15 ZIP codes in Phelps County, 65541 is tied for the 8th-highest two-bedroom rent (county range $960–$1,180). The median county two-bedroom FMR in Missouri is $962, so ZIP 65541 is 3% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 65541
BedroomsFY 2027Change90–110% range
Studio$740+8.8%$666–$814
1BR$770+10.0%$693–$847
2BR$990+10.0%$891–$1,089
3BR$1,230+9.8%$1,107–$1,353
4BR$1,460+13.2%$1,314–$1,606

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 65541
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$740$770$990$1,230$1,460
FY 2026$680$700$900$1,120$1,290
FY 2025$630$640$830$1,050$1,220
FY 2024area FMR$646$658$865$1,161$1,168
FY 2023area FMR$610$647$852$1,080$1,209

Marked years use a different HUD benchmark than FY 2027, so they are not a like-for-like change.

Two-bedroom rent in nearby Phelps County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 65541
65436$960−3.0%
65449$9900.0%
65453$960−3.0%
65459$1,060+7.1%
65461$1,180+19.2%
65462$960−3.0%
65529$1,060+7.1%
65541Current$990—
65542$960−3.0%
65550$1,030+4.0%
65559$1,000+1.0%
65560$1,010+2.0%

Questions about ZIP 65541 rents

How much will Section 8 pay for a two-bedroom in ZIP 65541?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the county-wide two-bedroom FMR of $973, which applies unless the housing authority uses Small Area FMRs, that basic range is $876 to $1,070 a month; under the ZIP-level Small Area FMR of $990 it would be $891 to $1,089. 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 65541 in?

ZIP 65541 is in the Phelps County, MO non-metropolitan FMR area. Small Area FMRs are optional here; the county-wide two-bedroom FMR is $973.

How much did fair market rent change in ZIP 65541 for FY 2027?

The two-bedroom FMR rose 10.0%, from $900 in FY 2026 to $990 in FY 2027. Since FY 2025 it has risen 19.3%.

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

County fair market rentLenox, MO fair market rentMO statewide rentsWhat is SAFMR?Data sources