Location: St. Francois County, MO | Metro: Iron County, MO
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $860 |
| 1 Bedroom | $1,060 |
| 2 Bedrooms | $1,170 |
| 3 Bedrooms | $1,440 |
| 4 Bedrooms | $1,790 |
| 5 Bedrooms | $2,076 |
| 6 Bedrooms | $2,325 |
| 7 Bedrooms | $2,511 |
| 8 Bedrooms | $2,637 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,170 | $126,488 | 0.92% | C |
| 3BR | $1,440 | $183,548 | 0.78% | D |
| 4BR | $1,790 | $211,006 | 0.85% | C |
U.S. Census Bureau data (2024)
The classification of ZIP 63650 (Ironton, MO) on the yield and stability axes reveals it as a moderate opportunity for landlords and small-portfolio investors.
On the yield axis, the Federal Market Rent (FMR) for the metro area in fiscal year 2026 is set at $1,070. This is significantly higher than the market rent of $710, indicating that properties in this ZIP code could potentially attract Section 8 tenants who would pay a higher rent subsidy compared to the local market rate. The median home value of $132,454 suggests that property acquisition costs are reasonable, making it feasible to achieve a decent rental yield through Section 8 participation.
Regarding stability, the ZIP code has a relatively low percentage of renters at 23.7%. This figure implies that the majority of residents prefer homeownership, which can affect the demand for rental properties. The average income level of $50,183 indicates that while there is a need for affordable housing, the economic base is somewhat limited, which could impact the financial health of potential tenants and their ability to consistently meet rental obligations.
The lack of available data on days on market (DOM) makes it challenging to assess the speed at which rental properties might be occupied. However, the combination of a higher FMR compared to market rent and the lower percentage of renters suggests that while there is potential for good yields, the market is not highly stable due to the limited rental demand and modest income levels.
In summary, ZIP 63650 leans towards being a moderate investment opportunity. It offers a higher yield potential through Section 8 subsidies but lacks the stability seen in areas with a higher percentage of renters and more robust income levels. Investors should consider these factors carefully when deciding whether to enter or expand in this market.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.