Location: Iron County, MO | Metro: Iron County, MO
| Unit Size | Monthly FMR |
|---|---|
| Studio | $710 |
| 1 Bedroom | $870 |
| 2 Bedrooms | $960 |
| 3 Bedrooms | $1,170 |
| 4 Bedrooms | $1,500 |
| 5 Bedrooms | $1,740 |
| 6 Bedrooms | $1,949 |
| 7 Bedrooms | $2,105 |
| 8 Bedrooms | $2,210 |
U.S. Census Bureau data (2024)
The analysis of ZIP code 63675 in Iron County, Missouri, reveals several key points that are crucial for landlords and small-portfolio investors.
Firstly, regarding the rent math, the Fair Market Rent (FMR) for the area is set at $890 for the fiscal year 2026. However, the market rent data is currently unavailable, which makes it challenging to directly compare the two figures. Without market rent data, it's impossible to determine if the FMR aligns with what tenants are willing to pay in this specific ZIP code.
Secondly, the acquisition affordability is also unclear due to the lack of data on the median home value, days on market (DOM), and the percentage of homes that required price reductions. These metrics would typically provide insight into whether buying properties in this area is financially feasible for investors. The absence of these figures means that investors must seek out additional sources to assess property values and market conditions accurately.
Lastly, concerning tenant demand, the ZIP code 63675 has a population of 24, with a strikingly low 0.0% renter share. This indicates that almost all residents own their homes, suggesting a minimal pool of potential renters. Given such a small population and the extremely low rate of renters, it is unlikely that there will be sufficient tenant demand to support rental properties effectively.
In conclusion, ZIP code 63675 presents significant challenges for real estate investors interested in rental properties. The unavailability of critical market data hinders the ability to make informed decisions about the financial viability of renting or purchasing properties. Moreover, the extremely low number of renters in the area suggests that tenant demand is insufficient to sustain a rental business. Therefore, based on the available information, this ZIP code does not appear to be a favorable investment opportunity for those looking to enter the rental market.
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.