HUD Fair Market Rent · FY 2027 · Effective Oct 1, 2026 to Sep 30, 2027
Fair Market Rent in Cole County, Missouri (FY 2027)
$962 a month. That's HUD's FY 2027 Fair Market Rent for a two-bedroom in Cole County, and it's the baseline every voucher in Cole is measured against.
Two-bedroom FMR
$962
+5.7% from FY 2026
Payment standard
$866–$1,058
90% to 110% of the FMR, two-bedroom
Income to afford
$38,480
a year, with rent at 30% of income
Rank in Missouri
69th of 116
by two-bedroom FMR, highest first
FY 2027 Fair Market Rents
Payment standard is the 90% to 110% band a housing authority can set. Income needed puts rent at 30% of gross income, and the hourly wage assumes a 40-hour week.
| Bedrooms | FMR | Payment standard | Income needed | Hourly wage | vs FY 2026 |
|---|---|---|---|---|---|
| Studio | $731 | $658–$804 | $29,240 | $14.06/hr | +6.1% |
| 1 bedroom | $735 | $662–$809 | $29,400 | $14.13/hr | +5.9% |
| 2 bedroom | $962 | $866–$1,058 | $38,480 | $18.50/hr | +5.7% |
| 3 bedroom | $1,332 | $1,199–$1,465 | $53,280 | $25.62/hr | +5.2% |
| 4 bedroom | $1,548 | $1,393–$1,703 | $61,920 | $29.77/hr | +12.3% |
Five to eight bedrooms (PropMetrics estimates)
HUD stops at four bedrooms. These add 15% of the four-bedroom rent per extra bedroom. It's our estimate, not a HUD number.
| Bedrooms | Estimated FMR | Payment standard |
|---|---|---|
| 5 bedroom Estimate | $1,780 | $1,602–$1,958 |
| 6 bedroom Estimate | $2,012 | $1,811–$2,213 |
| 7 bedroom Estimate | $2,245 | $2,021–$2,470 |
| 8 bedroom Estimate | $2,477 | $2,229–$2,725 |
Source: HUD Office of Policy Development and Research, FY 2027 Fair Market Rents. Rents include utilities. huduser.gov
Market check
HUD's number is one input. What does a two-bedroom in Cole actually rent for?
Search any address in Cole for a rent estimate built from nearby comps, with the HUD figure right next to it.
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What a voucher pays here
The voucher doesn't pay the FMR itself. It pays the payment standard. Housing authorities set it anywhere from 90% to 110% of FMR, which puts a two-bedroom standard in Cole somewhere between $866 and $1,058. The tenant pays roughly 30% of their income, the voucher covers the rest up to the standard, and the PHA won't approve a rent above what comparable unassisted units get.
$962 a month is affordable, by HUD's 30% rule, on an income of roughly $38,480 a year. Put another way, $19 an hour full time.
Worked example for a two-bedroom renting at the payment standard. The tenant pays 30% of monthly income and the voucher covers the rest.
| Monthly household income | Tenant pays (30%) | Voucher pays at 90%$866 | Voucher pays at 100%$962 | Voucher pays at 110%$1,058 |
|---|---|---|---|---|
| $2,500 | $750 | $116 | $212 | $308 |
| $4,000 | $1,200 | $0 | $0 | $0 |
Rate history
The two-bedroom rate went up 6% from FY 2026 ($910) to FY 2027 ($962). Since FY 2020 it's up 44% in total, about 5.3% a year. The Missouri median moved up 8% over the same year.
| Fiscal year | Studio | 1 BR | 2 BR | 3 BR | 4 BR | 2BR change |
|---|---|---|---|---|---|---|
| FY 2020 | $437 | $525 | $670 | $967 | $975 | — |
| FY 2021 | $447 | $546 | $678 | $964 | $967 | +1.2% |
| FY 2022 | $516 | $565 | $694 | $986 | $995 | +2.4% |
| FY 2023 | $607 | $611 | $748 | $1,063 | $1,064 | +7.8% |
| FY 2024 | $646 | $650 | $824 | $1,161 | $1,207 | +10.2% |
| FY 2025 | $677 | $681 | $891 | $1,249 | $1,322 | +8.1% |
| FY 2026 | $689 | $694 | $910 | $1,266 | $1,379 | +2.1% |
| FY 2027In effect | $731 | $735 | $962 | $1,332 | $1,548 | +5.7% |
About this rate
Fair Market Rent is HUD's estimate of what a modest, decent unit rents for in an area, utilities included. It's set once a year and runs October to September. For FY 2027 that's October 1, 2026 through September 30, 2027. In Cole, that runs from $731 for a studio up to $1,548 for four bedrooms, all five rates in the table above.
This is a metro rate. The county doesn't get one of its own. HUD lumps Cole in with one other county in the Jefferson City metro, Osage County among them, and every one of them gets $962 for a two-bedroom. Where you are inside the metro doesn't change the county number. It does change the ZIP number, covered below.
Among Missouri's 116 counties, Cole ranks 69th for two-bedroom FMR. That's within a couple percent of the state median of $962 and about 10% below the national median county at $1,063. About 77,032 people live here, 16th in the state.
Rates by ZIP code
Zoom in and the picture changes. HUD's Small Area FMRs put a two-bedroom at $960 in 65053 (Lohman) and $1,330 in 65076 (Saint Thomas), with the 13 ZIP codes in between. Housing authorities in HUD-designated metros use those ZIP rates instead of the county rate. Everywhere else the ZIP numbers show where rents actually sit, and the county rate stays the official standard.
| ZIP | City | 2BR rate | vs county |
|---|---|---|---|
| 65023 | Centertown | $1,120 | +16.4% |
| 65032 | Eugene | $1,020 | +6.0% |
| 65040 | Henley | $1,030 | +7.1% |
| 65053 | Lohman | $960 | -0.2% |
| 65074 | Russellville | $960 | -0.2% |
| 65076 | Saint Thomas | $1,330 | +38.3% |
| 65101 | Jefferson City | $960 | -0.2% |
| 65102 | Jefferson City | $970 | +0.8% |
| 65103 | Jefferson City | $970 | +0.8% |
| 65104 | Jefferson City | $970 | +0.8% |
| 65105 | Jefferson City | $970 | +0.8% |
| 65106 | Jefferson City | $962County rate | — |
| 65107 | Jefferson City | $962County rate | — |
| 65108 | Jefferson City | $962County rate | — |
| 65109 | Jefferson City | $1,020 | +6.0% |
| 65110 | Jefferson City | $970 | +0.8% |
| 65111 | Jefferson City | $962County rate | — |
Counties sharing the Jefferson City metro rate
HUD sets one rate for the whole metro, so every county here carries the same $962 two-bedroom figure as Cole.
Nearby counties
Two-bedroom FMR, with how each compares to Cole.
Osage County
17 mi · 13,402 people
$962
same rate
Moniteau County
23 mi · 15,262 people
$963
same rate
Miller County
24 mi · 25,269 people
$973
+1%
Callaway County
25 mi · 44,741 people
$1,123
+17%
Boone County
31 mi · 188,043 people
$1,076
+12%
Maries County
31 mi · 8,450 people
$962
same rate
Morgan County
33 mi · 21,717 people
$962
same rate
Gasconade County
37 mi · 14,746 people
$962
same rate
Questions people ask
$962 a month for FY 2027, which runs October 1, 2026 through September 30, 2027. The other rates are $731 for a studio, $735 for one bedroom, $1,332 for three and $1,548 for four.
Tools for this county
Fair Market Rent lookup
Any ZIP code's Small Area FMR by bedroom count
Section 8 rent calculator
Payment standard and tenant share for a specific rent
What is Fair Market Rent?
How HUD calculates FMR and what it means for landlords
Rent affordability calculator
The income a household needs for a given rent
What does a rental in Cole actually go for?
HUD's number is one input. Search any address in Cole for a rent estimate built from nearby comps. Free to start, no card.
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