Phelps County, MO: Fair Market Rent 2027 and Income Limits

Official HUD figures for landlords and renters, effective October 1, 2026 (rents) and May 1, 2026 (income limits).

$9732-bedroom FMR, FY2027

$7811-bedroom FMR, FY2027

$63,70080% income limit, family of 4 (FY2026)

$79,600Median family income (FY2026)

The FY2027 Fair Market Rent for a two-bedroom unit in Phelps County is $973 a month, up 4.3% from $933 in FY2026. Phelps County belongs to the Phelps County, MO FMR area (non-metro county), so the same figures apply across that area. FMRs are gross rents: rent plus all tenant-paid utilities except phone, cable and internet.

Fair market rent in Phelps County by bedroom count

Unit size	FY2027 FMR	FY2026 FMR	Change	Payment standard range (90–110%)
Studio	$756	$730	+3.6%	$681 – $831
1 bedroom	$781	$742	+5.3%	$703 – $859
2 bedrooms	$973	$933	+4.3%	$876 – $1,070
3 bedrooms	$1,299	$1,231	+5.5%	$1,170 – $1,428
4 bedrooms	$1,374	$1,235	+11.3%	$1,237 – $1,511

Source: HUD Fair Market Rents FY2027 (effective October 1, 2026) and FY2026 (revised file), details.

What can a landlord charge a Section 8 tenant here?

The FMR is not a cap on what you can ask on the open market. For a Housing Choice Voucher tenant, the local housing authority sets a payment standard, normally between 90% and 110% of the FMR (or of the ZIP-level Small Area FMR where those apply). For a two-bedroom unit in Phelps County that is typically $876 to $1,070 including utilities. You can charge more than the payment standard if the rent passes the housing authority's rent-reasonableness test and, at move-in, the tenant's share stays within 40% of their adjusted monthly income. Ask the housing authority for its current payment standard schedule.

Can local renters afford the fair market rent?

$29,756median income of renter households

$798Median gross rent, all units

32%Rent-to-income ratio (median rent ÷ median renter income)

50%of renter households pay 30% or more of income on rent

At the 30% rule, a renter household earning the local median of $29,756 can afford about $744 a month including utilities. The FY2027 two-bedroom Fair Market Rent of $973 is $229 (30.8%) more than that. To rent a two-bedroom at the FMR, a household needs $38,920 a year under the 30% rule, or $35,028 under the common landlord rule that income must be three times the rent.

Phelps County, ACS 2020–2024	Estimate ± MOE
Median gross rent (rent + utilities)	$798 ±$27
Median income of renter households	$29,756 ±$2,224
Renters paying 30% or more of income (cost-burdened)	50.2% ±6.2
Renters paying 50% or more (severely cost-burdened)	19.2% ±4.0
Renter households (where the share can be computed)	6,215

Change since 2015–2019

	ACS 2015–2019	ACS 2020–2024	Change
Median gross rent	$727	$798	+9.8%
Median renter household income	$26,784	$29,756	+11.1%
Renters paying 30%+ of income	48.0%	50.2%	+2.2 pts

Rent-to-income calculator: does an applicant qualify? → · Most affordable counties to rent in this state →

Source: U.S. Census Bureau, American Community Survey 5-Year Estimates 2020–2024 and 2015–2019 (tables B25064, B25119, B25070). ± = margin of error at 90% confidence. Dollar figures are not adjusted for inflation.

HUD income limits for Phelps County (FY2026)

Income limits decide who qualifies for Section 8 vouchers, public housing and most HUD-assisted units. The area median family income is $79,600 (FY2025: $77,500, +2.7%). Small figures under each limit show the change from FY2025.

Household size	1 person	2 people	3 people	4 people	5 people	6 people	7 people	8 people
Extremely low income (30%)	$16,750 +2.8%	$21,640 +2.3%	$27,320 +2.5%	$33,000 +2.6%	$38,680 +2.7%	$44,360 +2.8%	$49,400 +2.8%	$52,550 +2.7%
Very low income (50%)	$27,900 +2.8%	$31,850 +2.7%	$35,850 +2.7%	$39,800 +2.7%	$43,000 +2.7%	$46,200 +2.8%	$49,400 +2.8%	$52,550 +2.7%
Low income (80%)	$44,600 +2.8%	$51,000 +2.8%	$57,350 +2.8%	$63,700 +2.7%	$68,800 +2.7%	$73,900 +2.7%	$79,000 +2.7%	$84,100 +2.7%

The 30% limit is HUD's “extremely low income” limit: the higher of 30% of median income or the federal poverty guideline, but never above the 50% limit. That is why it can rise faster than 30% of median for larger households. Tax-credit (LIHTC) properties use separate Multifamily Tax Subsidy Project limits.

Source: HUD Section 8 Income Limits FY2026 (effective May 1, 2026) and FY2025, details.