Location: Iron 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 | $710 |
| 1 Bedroom | $880 |
| 2 Bedrooms | $960 |
| 3 Bedrooms | $1,190 |
| 4 Bedrooms | $1,480 |
| 5 Bedrooms | $1,717 |
| 6 Bedrooms | $1,923 |
| 7 Bedrooms | $2,077 |
| 8 Bedrooms | $2,181 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,190 | $157,980 | 0.75% | D |
U.S. Census Bureau data (2024)
The ZIP code 63663 is situated in a small, rural-like setting with a total population of 649 individuals. This area is characterized by a significant portion of renters, comprising 46.6% of the residents, indicating a moderate demand for rental properties. The median household income in this region stands at $44,750, which is relatively low compared to national averages, suggesting that many residents might rely on financial assistance such as housing vouchers. The median home value in ZIP 63663 is $132,351, reflecting an affordable residential market.
When it comes to the rent economics, the Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $890, while the actual market rent, according to Census ACS data, is $660. This discrepancy between the FMR and the market rent presents an opportunity for landlords and investors. The lower market rent suggests that there is room for modest increases without pricing out potential voucher recipients, thus aligning well with the needs of those who depend on housing assistance.
In terms of investment strategy, ZIP 63663 is more suitable for a hands-on value-add buyer rather than a hands-off voucher operator. The difference between the FMR and the market rent indicates that there is potential to improve property values and rents through strategic renovations and management practices. A hands-on approach would allow investors to capitalize on this gap by enhancing property quality and increasing rents closer to the FMR levels, thereby maximizing returns. However, the low median income also implies that investors must remain sensitive to the affordability needs of the local population to ensure sustainable occupancy rates.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.