Location: Lewis County, MO | Metro: Knox County, MO
| Unit Size | Monthly FMR |
|---|---|
| Studio | $740 |
| 1 Bedroom | $770 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,210 |
| 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 63446 is situated in a small-town setting with a total population of 493. This area is predominantly owned by homeowners, with only 11.3% of residents being renters. The median household income here stands at $60,982, which suggests a relatively stable economic environment. However, the median home value of $247,434 indicates that property values are not exceptionally high, providing an opportunity for investment.
From an investment standpoint, the Federal Market Rent (FMR) for the metro area in fiscal year 2026 is set at $1,000. In contrast, the current market rent, according to Census ACS data, is $656. This discrepancy means that landlords who accept Section 8 vouchers can receive a higher rent payment compared to the local market rate, effectively subsidizing their rental income.
Given these economic factors, ZIP 63446 could be suitable for both hands-off voucher operators and hands-on value-add buyers. For hands-off operators, the guaranteed income from Section 8 vouchers, which exceeds the market rent, provides a steady and reliable revenue stream without the need for extensive property management. On the other hand, for hands-on investors looking to add value, the lower median home value presents an opportunity to purchase properties at a reasonable price and potentially increase their worth through renovations or strategic improvements. The low percentage of renters also implies that there might be room for growth in the rental market, making it attractive for those willing to engage actively in property management and improvement.
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.