Location: Macon County, MO | Metro: Macon County, MO
| Unit Size | Monthly FMR |
|---|---|
| Studio | $720 |
| 1 Bedroom | $760 |
| 2 Bedrooms | $970 |
| 3 Bedrooms | $1,190 |
| 4 Bedrooms | $1,450 |
| 5 Bedrooms | $1,682 |
| 6 Bedrooms | $1,884 |
| 7 Bedrooms | $2,035 |
| 8 Bedrooms | $2,137 |
U.S. Census Bureau data (2024)
The ZIP code 63538 stands as a market in motion, characterized by the Federal Market Rent (FMR) set at $890 for fiscal year 2026. This figure, while indicative of the rental cost benchmark established by HUD for the area, lacks context without comparison to the actual market rent. The absence of market rent data suggests either an emerging market or one where data collection is less robust, making it difficult to assess whether the FMR accurately reflects the local rental landscape.
A critical metric missing from the snapshot is the percentage of price-cut shares and days on market (DOM). These would provide insight into the balance between supply and demand. If there were data showing a high percentage of price-cut shares and extended DOM periods, it could suggest that the supply of rental units outpaces demand, indicating a buyer's market where landlords might need to lower their prices to attract tenants. Conversely, if these metrics were low, it would imply a seller's market where demand exceeds supply, potentially allowing landlords to charge closer to or above the FMR without significant discounts.
The 5.5% renter share in ZIP 63538 is notably low, suggesting that the majority of residents own their homes rather than renting. This statistic implies that the long-term housing pressure is likely to be moderate, as a higher proportion of homeownership generally correlates with stability in housing prices and a reduced urgency to rent. However, the low renter share also indicates a smaller pool of potential renters, which could affect the viability of rental investments unless there are compelling reasons for individuals to rent, such as job mobility or transient populations.
In summary, ZIP 63538 presents a market where the Federal Market Rent serves as a guideline but the actual dynamics remain unclear due to the lack of comprehensive market data. The low renter share points towards a stable housing environment but also a niche rental market. Landlords and small-portfolio investors must consider these factors when evaluating the potential returns and risks associated with rental properties in this area.
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.