Location: Washington County, MO | Metro: Iron County, MO
| Unit Size | Monthly FMR |
|---|---|
| Studio | $730 |
| 1 Bedroom | $760 |
| 2 Bedrooms | $960 |
| 3 Bedrooms | $1,160 |
| 4 Bedrooms | $1,300 |
| 5 Bedrooms | $1,508 |
| 6 Bedrooms | $1,689 |
| 7 Bedrooms | $1,824 |
| 8 Bedrooms | $1,915 |
U.S. Census Bureau data (2024)
The real estate landscape in Bismarck, Missouri, encapsulated by ZIP code 63624, presents a unique set of conditions for both landlords and small-portfolio investors. With a median home value of $127,980, the area is marked by affordability, which is a significant draw for potential buyers and renters alike. However, the current data showing that the percentage of listings reduced is N/A% and the median days on market (DOM) is N/A days, suggests a balanced market where neither sellers nor buyers have an overwhelming advantage.
On the rental side, the forward market rate (FMR) for the metro area in fiscal year 2026 is projected at $890, while the current market rate stands at $690 according to Census ACS data. This gap indicates a potential upward trend in rental prices, aligning with broader economic forecasts that anticipate rising costs due to inflation and increased demand for housing. Landlords and investors who can maintain or slightly increase their rental rates in line with the FMR will likely see improved cash flows over the next 12-24 months.
For those considering a long-term investment strategy in Bismarck, the setup points towards a modest appreciation thesis. The stable median home values combined with the expected rise in rental rates suggest that property values could gradually increase as the local economy strengthens and demand for housing persists. However, the lack of specific data on listing reductions and DOM indicates a cautious approach is warranted, as rapid appreciation may not be guaranteed.
In summary, the current median home value, coupled with the anticipated growth in rental rates, signals a favorable environment for maintaining pricing power. Landlords and small-portfolio investors should focus on optimizing their rental rates and positioning themselves for gradual property value increases, while being mindful of the market's balanced nature.
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.