Location: Wayne County, MO | Metro: Iron County, MO
| Unit Size | Monthly FMR |
|---|---|
| Studio | $710 |
| 1 Bedroom | $880 |
| 2 Bedrooms | $960 |
| 3 Bedrooms | $1,160 |
| 4 Bedrooms | $1,540 |
| 5 Bedrooms | $1,786 |
| 6 Bedrooms | $2,000 |
| 7 Bedrooms | $2,160 |
| 8 Bedrooms | $2,268 |
U.S. Census Bureau data (2024)
The rent math in ZIP code 63636 does not favor landlords. The Fair Market Rent (FMR) set at $890 for the metro area for fiscal year 2026 contrasts sharply with the actual market rent of $432, as reported by the Census ACS. This discrepancy means that landlords aiming to charge closer to the FMR will likely struggle to find tenants willing to pay such a high rate, given the current market conditions.
Regarding acquisition affordability, the median home value stands at $147,852. However, the lack of data on days on market (DOM) and the percentage of homes needing price cuts suggests that the local housing market dynamics are unclear. Without these specifics, it's challenging to assess the ease or difficulty of acquiring properties at reasonable prices.
Tenant demand in ZIP 63636 is relatively low. With a total population of 446, only 22.3% are renters, indicating a limited pool of potential tenants. Given the small number of residents and the low renter share, securing long-term tenants could be difficult, especially if rents are set above the market rate.
Verdict: ZIP 63636 presents a challenging environment for landlords and small-portfolio investors due to the significant gap between the FMR and the actual market rent, which discourages higher rental pricing. The median home value offers some financial stability, but the lack of detailed market data complicates acquisition strategies. Furthermore, the low tenant demand makes it less attractive for those seeking consistent occupancy. Overall, while the area may offer affordable property acquisition, the economic realities suggest that investment here should be approached with caution.
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.