Location: Clark County, MO | Metro: Clark County, MO
| Unit Size | Monthly FMR |
|---|---|
| Studio | $710 |
| 1 Bedroom | $750 |
| 2 Bedrooms | $970 |
| 3 Bedrooms | $1,220 |
| 4 Bedrooms | $1,490 |
| 5 Bedrooms | $1,728 |
| 6 Bedrooms | $1,935 |
| 7 Bedrooms | $2,090 |
| 8 Bedrooms | $2,195 |
U.S. Census Bureau data (2024)
The ZIP code 63465 is primarily characterized by a relatively small population of 633 individuals, with 30.5% being renters. This indicates that while there is a significant portion of the population renting, it is not a heavily renter-dominated area. The median household income stands at $57,361, which provides a baseline for assessing the financial capacity of potential tenants.
The market rent in this area is $1,094, representing approximately 19.1% of the median household income. This calculation is derived from dividing the market rent by the median income ($1,094 / $57,361 = 0.191), indicating that the typical rent eats up nearly one-fifth of the average local income. This percentage is crucial for understanding the affordability of housing for residents and the potential demand for rental properties.
Comparatively, the Fair Market Rent (FMR) for the area is set at $930 for fiscal year 2026, based on metro standards. This means that the actual market rent ($1,094) exceeds the FMR by about $164. Landlords should be aware that this discrepancy could affect the attractiveness of their properties to Section 8 tenants who have limited budgets due to the voucher caps.
A landlord in ZIP 63465 can expect tenants who are likely to be constrained by budgetary limits, given the high proportion of income dedicated to rent. The tenant pool will predominantly consist of individuals or families whose total income does not significantly exceed the median, making them reliant on government assistance such as Section 8 vouchers to secure housing. Given the FMR threshold, these tenants will seek properties that do not exceed the $930 limit, highlighting a need for landlords to adjust their pricing strategies to align with voucher amounts if they wish to attract and retain Section 8 tenants.
To summarize, ZIP 63465 presents a scenario where the demand for rental properties is moderate but exists within a context where tenants are sensitive to rent costs. Landlords must balance the market rate against the FMR to cater effectively to the Section 8 tenant pool, ensuring that rents remain affordable and attractive to those dependent on vouchers.
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.