HUD Fair Market Rent · FY 2026 · effective Oct 1, 2025 to Sep 30, 2026
Fair Market Rent in Madison County, Missouri (FY 2026)
$935 a month. That's HUD's FY 2026 Fair Market Rent for a two-bedroom in Madison County, and it's the baseline every voucher in Madison is measured against.
2 bedroom FMR
$935
FY 2026, utilities included
Payment standard range
$842 to $1,029
90% to 110% of FMR
Income to afford 2BR
$37,400
per year, at 30% of income
Rank in Missouri
39th of 116
by 2BR FMR
HUD has already published FY 2027. On October 1, 2026 the two-bedroom rate in Madison moves to $1,063. That's up 14%. The full FY 2027 table is in the history section below.
HUD's number is one input. What does a two-bedroom in Madison actually rent for?
Search any address in Madison for a rent estimate built from nearby comps, with the HUD figure right next to it.
FY 2026 Fair Market Rents
| Bedrooms | FMR | Payment standard | Income needed | Hourly wage | vs FY 2025 |
|---|---|---|---|---|---|
| Studio | $695 | $626 to $765 | $27,800 | $13.37/hr | +12.3% |
| 1 bedroom | $713 | $642 to $784 | $28,520 | $13.71/hr | +12.6% |
| 2 bedroom | $935 | $842 to $1,029 | $37,400 | $17.98/hr | +12.7% |
| 3 bedroom | $1,133 | $1,020 to $1,246 | $45,320 | $21.79/hr | +7.1% |
| 4 bedroom | $1,390 | $1,251 to $1,529 | $55,600 | $26.73/hr | -0.3% |
5 to 8 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 | $1,599 | $1,439 to $1,759 |
| 6 bedroom Estimate | $1,807 | $1,626 to $1,988 |
| 7 bedroom Estimate | $2,016 | $1,814 to $2,218 |
| 8 bedroom Estimate | $2,224 | $2,002 to $2,446 |
Source: HUD Office of Policy Development and Research, FY 2026 Fair Market Rents. Rents include utilities. huduser.gov
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 2026 that's October 1, 2025 through September 30, 2026. In Madison, that runs from $695 for a studio up to $1,390 for four bedrooms, all five rates in the table above.
Because Madison sits outside any HUD metro area, its rate is a county-wide figure built from local rents. One number covers every address in the county, Fredericktown included.
Among Missouri's 116 counties, Madison ranks 39th for two-bedroom FMR. That's about 5% above the state median of $888 and about 8% below the national median county at $1,018. About 12,649 people live here, 74th in the state.
Rates by ZIP code
Zoom in and the picture changes. HUD's Small Area FMRs put a two-bedroom at $920 in 63655 (Marquand) and $940 in 63645 (Fredericktown), with the 2 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.
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 Madison somewhere between $842 and $1,029. 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.
$935 a month is affordable, by HUD's 30% rule, on an income of roughly $37,400 a year. Put another way, $18 an hour full time.
Worked example for a two-bedroom, assuming the rent equals the payment standard. Tenant pays 30% of monthly income, HUD's housing assistance payment covers the rest.
| Monthly household income | Tenant pays (30%) | HAP at 90% ($842) | HAP at 100% ($935) | HAP at 110% ($1,029) |
|---|---|---|---|---|
| $2,500 | $750 | $92 | $185 | $279 |
| $4,000 | $1,200 | $0 | $0 | $0 |
Rate history
The two-bedroom rate went up 13% from FY 2025 ($830) to FY 2026 ($935). Since FY 2020 it's up 47% in total, about 6.7% a year. The Missouri median moved up 8% over the same year.
| Year | Studio | 1 BR | 2 BR | 3 BR | 4 BR | 2BR change |
|---|---|---|---|---|---|---|
| FY 2020 | $426 | $490 | $634 | $790 | $859 | — |
| FY 2021 | $457 | $525 | $662 | $837 | $1,018 | +4.4% |
| FY 2022 | $489 | $548 | $685 | $932 | $1,061 | +3.5% |
| FY 2023 | $549 | $567 | $746 | $982 | $1,157 | +8.9% |
| FY 2024 | $601 | $607 | $797 | $1,076 | $1,353 | +6.8% |
| FY 2025 | $619 | $633 | $830 | $1,058 | $1,394 | +4.1% |
| FY 2026 | $695 | $713 | $935 | $1,133 | $1,390 | +12.7% |
| FY 2027 | $783 | $813 | $1,063 | $1,267 | $1,595 | +13.7% |
Nearby counties
Bollinger County
$99218 mi · pop 10,658
Wayne County
$88825 mi · pop 11,081
Iron County
$88829 mi · pop 9,538
Cape Girardeau County
$99231 mi · pop 81,703
St. Francois County
$90431 mi · pop 66,814
Ste. Genevieve County
$92232 mi · pop 18,494
Perry County
$95233 mi · pop 18,970
Reynolds County
$88840 mi · pop 6,102
Questions people ask
$935 a month for FY 2026, which runs October 1, 2025 through September 30, 2026. The other rates are $695 for a studio, $713 for one bedroom, $1,133 for three and $1,390 for four.
Tools for this county
Fair Market Rent lookup
Look up any ZIP code's Small Area FMR by bedroom count.
Section 8 rent calculator
Work out the 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
See what income a household needs for a given rent.
What does a rental in Madison actually go for?
HUD's number is one input. Search any address in Madison for a rent estimate built from nearby comps. 3 free searches, no card.
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