Location: Sullivan County, MO | Metro: Adair County, MO
| Unit Size | Monthly FMR |
|---|---|
| Studio | $730 |
| 1 Bedroom | $750 |
| 2 Bedrooms | $980 |
| 3 Bedrooms | $1,190 |
| 4 Bedrooms | $1,370 |
| 5 Bedrooms | $1,589 |
| 6 Bedrooms | $1,780 |
| 7 Bedrooms | $1,922 |
| 8 Bedrooms | $2,018 |
U.S. Census Bureau data (2024)
The ZIP code 63557 presents a unique market dynamic, influenced significantly by the Federal Market Rent (FMR) figure of $910 for fiscal year 2026. This FMR, which is indicative of the rental market's affordability threshold for low-income households under the Section 8 program, suggests that landlords operating within this area should aim to keep their rental prices below or around this mark to attract such tenants.
The absence of current market rent data and the percentage of price-cut share indicates a less active rental market compared to more bustling areas. However, this doesn't necessarily mean that supply outpaces demand. The median home value of $295,656 provides insight into the overall property valuation but doesn't directly reveal the balance between supply and demand.
A key metric in understanding the housing pressure in ZIP 63557 is the 6.0% renter share. This relatively low percentage implies that the majority of residents in this area own their homes rather than renting. Such a trend can indicate a stable community with long-term residents, suggesting a lower turnover rate in the rental sector and potentially fewer new entrants into the housing market. This stability, however, also means that any increase in the number of renters could create significant upward pressure on rents, especially if the local economy grows and attracts more renters.
The Days on Market (DOM) being N/A points to a lack of recent transaction data, which might suggest a quieter market. Nonetheless, it's crucial for landlords and small-portfolio investors to monitor the local economic indicators and the trends in the broader St. Louis metropolitan area, as changes there could influence the rental market in 63557.
In summary, ZIP 63557 appears to be a market where homeownership is prevalent, with a rental sector that is currently not highly competitive. Landlords should focus on maintaining properties at or below the FMR of $910 to cater to Section 8 eligible tenants, while keeping an eye on broader economic shifts that could alter the balance between supply and demand.
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.