Location: Washington County, MO | Metro: Iron County, MO
| Unit Size | Monthly FMR |
|---|---|
| Studio | $760 |
| 1 Bedroom | $940 |
| 2 Bedrooms | $1,030 |
| 3 Bedrooms | $1,230 |
| 4 Bedrooms | $1,610 |
| 5 Bedrooms | $1,868 |
| 6 Bedrooms | $2,092 |
| 7 Bedrooms | $2,259 |
| 8 Bedrooms | $2,372 |
U.S. Census Bureau data (2024)
The Section 8 housing market in ZIP code 63631, located within the Washington County, MO metro area, presents a unique opportunity for landlords and small-portfolio investors. According to the latest HUD Fair Market Rent (FMR) data for fiscal year 2026, the FMR for the metro area is set at $960. This figure stands in contrast to the actual market rent, which is reported at $790 based on Census ACS data.
Voucher tenants in this region will cashflow at the FMR rate, meaning landlords can expect a positive cashflow when renting properties to tenants using vouchers. The difference between the FMR and the market rent indicates that voucher holders can afford slightly higher rents than what the market currently demands, thereby providing a financial buffer for property owners.
The median home value in ZIP 63631 is $238,811. Using this figure, we can calculate a rent-to-price ratio. With a monthly rent of $790, the annual rent would be $9,480, leading to an approximate rent-to-price ratio of 4%. This ratio suggests that rental income represents a modest portion of the total property value, indicating that investment returns are likely to come from other sources such as appreciation or stability rather than high rental yields.
While the data on median Days on Market (DOM) and the percentage of homes that experienced price cuts is not available, these metrics typically play a role in assessing the balance between renting and buying. In ZIP 63631, the absence of significant price reductions and short DOM periods would support a stable market environment, favorable for long-term investments.
The strongest angle for investors in this market is stability. The positive cashflow from voucher tenants combined with a stable housing market ensures consistent returns without the volatility often seen in more dynamic markets. Additionally, the potential for gradual appreciation over time adds to the attractiveness of this investment strategy.
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.