Location: Pike County, MO | Metro: Pike County, MO
| Unit Size | Monthly FMR |
|---|---|
| Studio | $850 |
| 1 Bedroom | $890 |
| 2 Bedrooms | $1,160 |
| 3 Bedrooms | $1,380 |
| 4 Bedrooms | $1,520 |
| 5 Bedrooms | $1,763 |
| 6 Bedrooms | $1,975 |
| 7 Bedrooms | $2,133 |
| 8 Bedrooms | $2,240 |
U.S. Census Bureau data (2024)
The ZIP code 63336 is situated in a tranquil suburban neighborhood characterized by a relatively small population of 1,079 residents. With only 17.0% of the residents being renters, it indicates a predominantly owner-occupied community. The median household income stands at $71,875, suggesting a middle-class area where most residents can afford their living expenses. The median home value in the area is $219,731, reflecting the modest cost of homeownership.
Turning to the economic landscape of renting, the Fair Market Rent (FMR) for ZIP 63336 is set at $1,010 for the fiscal year 2026, according to the metro area standards. However, the actual market rent, based on Census ACS data, is significantly lower at $722. This discrepancy between FMR and market rent could present opportunities for both hands-off voucher operators and hands-on value-add buyers.
For hands-off voucher operators, the ZIP code offers a stable environment with a low risk of tenant turnover due to the modest rental prices and the potential for Section 8 tenants to find units within their budget. The difference between FMR and market rent means that landlords can receive higher subsidies relative to the local rental rates, ensuring steady cash flow without the need for extensive property management.
A hands-on value-add buyer might find potential in improving properties to command closer to the FMR levels while still being attractive to subsidized housing programs. Given the lower market rent, there is room to increase rents through renovations or improvements, although the limited number of renters suggests a smaller pool of potential tenants.
In summary, ZIP 63336 presents a balanced opportunity for both types of investors. Hands-off operators can benefit from the subsidy gap, while hands-on buyers can leverage property enhancements to capture higher rents within the constraints of the local rental market.
Data Sources: FMR data from HUD (2027). Demographics from U.S. Census (2024).
About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.