Location: Ste. Genevieve County, MO | Metro: Randolph County, IL
| Unit Size | Monthly FMR |
|---|---|
| Studio | $750 |
| 1 Bedroom | $890 |
| 2 Bedrooms | $1,020 |
| 3 Bedrooms | $1,250 |
| 4 Bedrooms | $1,580 |
| 5 Bedrooms | $1,833 |
| 6 Bedrooms | $2,053 |
| 7 Bedrooms | $2,217 |
| 8 Bedrooms | $2,328 |
U.S. Census Bureau data (2024)
The market in ZIP code 63673 presents a dynamic environment that is indicative of shifting housing pressures. With a Fair Market Rent (FMR) of $950 for the fiscal year 2026, the area shows a clear trend towards increasing rental costs, which aligns with the current market rent of $818 based on Census ACS data. This suggests that while rents are currently lower than the FMR, they are likely to rise, indicating a potential upward trajectory in the rental market.
The median home value of $258,614 provides insight into the overall affordability of the area. However, without specific data on the percentage of price-cut share and days on market (DOM), it's challenging to definitively state whether supply outpaces demand or vice versa. Nonetheless, the 23.1% renter share points to a significant portion of the population that relies on renting, which can create long-term housing pressure as these individuals compete for a limited number of rental properties. This pressure can drive up rental rates over time, making it a critical factor for landlords and small-portfolio investors to consider.
In essence, ZIP 63673 is a market in flux, where rising rental costs and a notable renter population suggest an environment where demand is likely to push against supply. Landlords and investors should be prepared for a rental market that is poised to become more competitive and potentially more profitable as rental values approach the FMR levels.
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.