Location: Cape Girardeau, MO | Metro: Cape Girardeau, MO-IL MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $790 |
| 1 Bedroom | $860 |
| 2 Bedrooms | $1,050 |
| 3 Bedrooms | $1,450 |
| 4 Bedrooms | $1,760 |
| 5 Bedrooms | $2,042 |
| 6 Bedrooms | $2,287 |
| 7 Bedrooms | $2,470 |
| 8 Bedrooms | $2,594 |
U.S. Census Bureau data (2024)
The analysis of ZIP code 63744 within the Cape Girardeau, MO-IL MSA metro area reveals several key insights for landlords and small-portfolio investors.
The rent math does not work favorably here. The Fair Market Rent (FMR) set at $930 for the fiscal year 2024 is notably higher than the current market rent, which stands at $800 according to Census ACS data. This discrepancy suggests that landlords might struggle to find tenants willing to pay the higher FMR rate, potentially leading to vacancies or the need to offer lower rents.
Acquisition appears to be challenging due to limited data on median home values, days on market (DOM), and the percentage of homes needing price cuts. These metrics are crucial for understanding the local housing market dynamics and the feasibility of purchasing properties at affordable rates. Without specific figures, it's difficult to provide a precise assessment of whether acquisitions can be made affordably.
Tenant demand is relatively low in ZIP 63744. With a total population of 198, only 21.4% are renters. This indicates a smaller pool of potential tenants relative to the overall population, which could impact occupancy rates and the stability of rental income.
Verdict: ZIP 63744 presents a less attractive investment opportunity for landlords and small-portfolio investors. The mismatch between FMR and market rent, coupled with limited data on property acquisition costs and a low renter share, suggests that the risks outweigh the benefits. Investors should proceed with caution and consider additional research into specific property types and conditions before committing capital.
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.