Location: Wayne County, MO | Metro: Cape Girardeau, MO-IL MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $750 |
| 1 Bedroom | $830 |
| 2 Bedrooms | $1,030 |
| 3 Bedrooms | $1,410 |
| 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 analysis of ZIP code 63787 reveals key insights for landlords and small-portfolio investors considering investment in this area.
The rent math does not work favorably for landlords. The Fair Market Rent (FMR) for the zip code for fiscal year 2024 is set at $810. However, the market rent is currently unavailable, which means that there's no direct comparison to gauge the profitability based on current rental rates. This uncertainty can be a risk factor for potential investments.
Regarding the affordability of acquisitions, the data indicates that the median home value is not available, nor is the average number of days on the market (DOM) or the percentage of homes requiring price cuts. These missing metrics make it difficult to assess the ease and cost-effectiveness of acquiring properties in this area. Without this information, investors cannot accurately determine if they will face challenges in purchasing properties or if they will need to negotiate significant price reductions.
Tenant demand is moderate. With a total population of 551, 17.3% of residents are renters. This translates to approximately 95 rental units occupied by tenants. While this represents a reasonable tenant base, the relatively small number of renters might limit the potential for large-scale rental operations.
Verdict: Investment in ZIP 63787 presents mixed opportunities. The lack of market rent data and other critical metrics such as median home value and DOM percentages introduce significant uncertainties. The modest tenant demand suggests a niche market suitable for small-scale investors willing to navigate incomplete data. For larger portfolios or those seeking high-profit margins, this area may not be as attractive due to limited rental population and unclear market conditions.
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.