FMR is near market; voucher and private rents are aligned.
0.99
1 BR
1 BR
0.96ratio
FMR$950
Market$990
vs market-$40
FMR is near market; voucher and private rents are aligned.
0.96
2 BR
2 BR
1.02ratio
FMR$1,160
Market$1,140
vs market+$20
FMR is near market; voucher and private rents are aligned.
1.02
3 BR
3 BR
1.18ratio
FMR$1,610
Market$1,370
vs market+$240
FMR is above market; underwrite to market rent.
1.18
4 BR
4 BR
0.90ratio
FMR$1,840
Market$2,050
vs market-$210
FMR is below market; voucher rent may lag private rents.
0.90
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 65897 fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 65897 (Springfield, MO) is $1,160 a month. That is up 2.7% from $1,130 in FY 2026. Springfield is in the Springfield, MO HUD Metro 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 metro-wide two-bedroom FMR of $1,113. Among 29 ZIP codes in Greene County, 65897 has the 7th-highest two-bedroom rent (county range $990–$1,300). The median county two-bedroom FMR in Missouri is $962, so ZIP 65897 is 21% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for 65897
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$910
$950
+4.4%
$855–$1,045
1BR
$910
$950
+4.4%
$855–$1,045
2BR
$1,130
$1,160
+2.7%
$1,044–$1,276
3BR
$1,550
$1,610
+3.9%
$1,449–$1,771
4BR
$1,760
$1,840
+4.5%
$1,656–$2,024
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for 65897
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$950
$950
$1,160
$1,610
$1,840
FY 2026
$910
$910
$1,130
$1,550
$1,760
FY 2025
$800
$800
$1,010
$1,390
$1,560
FY 2024
$720
$720
$920
$1,270
$1,430
FY 2023area FMR
$676
$681
$871
$1,225
$1,383
Marked years use a different HUD benchmark than FY 2027, so they are not a like-for-like change.
Two-bedroom rent in nearby Greene County ZIP codes
How much will Section 8 pay for a two-bedroom in ZIP 65897?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,113, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,002 to $1,224 a month; under the ZIP-level Small Area FMR of $1,160 it would be $1,044 to $1,276. 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 65897 in?
ZIP 65897 is in the Springfield, MO HUD Metro FMR Area. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,113.
How much did fair market rent change in ZIP 65897 for FY 2027?
The two-bedroom FMR rose 2.7%, from $1,130 in FY 2026 to $1,160 in FY 2027. Since FY 2024 it has risen 26.1%.
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