Location: Cape Girardeau, MO | Metro: Cape Girardeau, MO-IL MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $720 |
| 1 Bedroom | $790 |
| 2 Bedrooms | $960 |
| 3 Bedrooms | $1,330 |
| 4 Bedrooms | $1,600 |
| 5 Bedrooms | $1,856 |
| 6 Bedrooms | $2,079 |
| 7 Bedrooms | $2,245 |
| 8 Bedrooms | $2,357 |
U.S. Census Bureau data (2024)
The market analysis for Section 8 investors in ZIP code 63760, located in Cape Girardeau, MO-IL MSA metro, reveals that the HUD Fair Market Rent (FMR) of $810 for fiscal year 2024 does not align with the current market conditions due to the lack of available market rent data. This absence of market rent figures makes it challenging to determine if voucher tenants would cashflow at the FMR, marginally, or only with premium units. However, based on the HUD FMR alone, landlords and small-portfolio investors can expect that properties renting at this rate will likely see marginal cashflow without significant market adjustments.
The median home value data for ZIP 63760 is also not available, which means deriving an accurate rent-to-price ratio is impossible. In the absence of such data, it's important to note that the stability of rental income through Section 8 vouchers remains a strong advantage over the uncertainty of market rents. Voucher tenants provide a reliable source of income, as their rent is subsidized by the government, ensuring timely payments regardless of the economic climate.
Without specific market rent data, it's difficult to compare the day's median DOM (Days on Market) and the percentage of price cuts typically seen in the area. However, these metrics usually indicate the speed at which homes sell and the competitiveness of the local housing market, which can affect both rental and purchase decisions. For Section 8 investors, the focus should remain on the predictability and security of rental income, which can be a significant factor in investment strategy.
The strongest investor angle in ZIP 63760 for Section 8 investments is stability. The consistent and guaranteed nature of rental income from voucher tenants provides a solid foundation for long-term real estate investment, especially in regions where market fluctuations are common.
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.