Location: Mississippi County, MO | Metro: Mississippi County, MO
| Unit Size | Monthly FMR |
|---|---|
| Studio | $710 |
| 1 Bedroom | $740 |
| 2 Bedrooms | $960 |
| 3 Bedrooms | $1,310 |
| 4 Bedrooms | $1,540 |
| 5 Bedrooms | $1,786 |
| 6 Bedrooms | $2,000 |
| 7 Bedrooms | $2,160 |
| 8 Bedrooms | $2,268 |
U.S. Census Bureau data (2024)
A skeptical investor might question whether the Fair Market Rent (FMR) of $890 for ZIP 63820 in fiscal year 2026 will sufficiently cover the mortgage on a typical home. However, the average home price in Anniston, MO, as of March 2026, stands at $59,100. This figure is notably lower than the national median value, suggesting that mortgages in this area could be relatively affordable, especially considering the low home prices.
The rental market statistic showing that only 11.4% of the population are renters might raise concerns about sufficient demand. Yet, according to recent data, 28.6% of houses and apartments in Anniston (ZIP 63820) are available to rent, indicating that the rental market is robust relative to the percentage of renters. Of the total 97 dwellings in ZIP 63820, 89 are owner-occupied, while 8 are renter-occupied, further highlighting the balance between homeownership and rental demand.
An additional objection could be whether housing vouchers will keep pace with market rents, which currently stand at $670. Unfortunately, specific data on voucher usage trends in ZIP 63820 is not readily available. However, the FMR of $890 suggests that the government recognizes the need for assistance in covering rent costs. While it's important to monitor local trends, the current FMR provides a reasonable estimate that vouchers should continue to support a significant portion of renters.
In summary, despite initial skepticism, the data indicates that the low home prices in ZIP 63820 can make mortgages more manageable, and the rental market shows sufficient demand. Vouchers, though their specific trends are not detailed here, are likely to remain a viable support mechanism given the FMR estimates.
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.