Location: Shelby County, MO | Metro: Knox County, MO
| Unit Size | Monthly FMR |
|---|---|
| Studio | $860 |
| 1 Bedroom | $910 |
| 2 Bedrooms | $1,160 |
| 3 Bedrooms | $1,540 |
| 4 Bedrooms | $1,860 |
| 5 Bedrooms | $2,158 |
| 6 Bedrooms | $2,417 |
| 7 Bedrooms | $2,610 |
| 8 Bedrooms | $2,741 |
U.S. Census Bureau data (2024)
ZIP code 63469, located in Shelbyville, MO within the Shelby County, MO metro area, presents a unique rental market scenario when compared to typical ZIP codes in the county. The Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $1,280, while the market rent for ZIP 63469 stands at $600. This indicates that ZIP 63469 offers significantly lower rental rates than what is considered fair market value, making it a potentially attractive location for landlords looking to serve tenants with limited budgets.
The median home value in ZIP 63469 is $236,575, which is likely reflective of the broader Shelby County, MO market but could suggest that the area has a mix of affordable and slightly above-average housing options. However, the key figure here is the renter share, which is 19.9%. This percentage is notably higher than many other ZIP codes in Shelby County, indicating a substantial proportion of residents who prefer or need to rent rather than own their homes. High renter shares can be indicative of areas where there is a significant demand for rental properties, particularly those that cater to lower-income households eligible for Section 8 assistance.
Given the disparity between the FMR ($1,280) and the actual market rent ($600), combined with the relatively high renter share, ZIP 63469 appears to be a value pocket within its metro. It offers rental rates well below the fair market value, suggesting a potential for landlords to attract Section 8 tenants without needing to increase rents significantly to cover costs. The presence of a high renter share alongside below-metro average home values further supports this classification, as it aligns with characteristics often seen in areas favored by Section 8 tenants due to affordability.
In summary, ZIP 63469 is positioned as a value pocket within the Shelby County, MO metro, offering lower rental rates and a higher proportion of renters, making it a suitable location for landlords interested in serving the Section 8 tenant community.
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.