Location: Scott County, MO | Metro: Scott County, MO
| Unit Size | Monthly FMR |
|---|---|
| Studio | $870 |
| 1 Bedroom | $900 |
| 2 Bedrooms | $1,180 |
| 3 Bedrooms | $1,430 |
| 4 Bedrooms | $1,580 |
| 5 Bedrooms | $1,833 |
| 6 Bedrooms | $2,053 |
| 7 Bedrooms | $2,217 |
| 8 Bedrooms | $2,328 |
U.S. Census Bureau data (2024)
The market in ZIP code 63824 presents a dynamic scenario that reflects the current state of rental housing. With a Fair Market Rent (FMR) set at $1,050 for fiscal year 2026, and a market rent of $1,032 according to the latest Census American Community Survey (ACS) data, the area demonstrates a close alignment between government standards and actual market conditions. This suggests a stable pricing environment where rents are neither excessively high nor undervalued.
The 60.3% renter share indicates a significant portion of the population relies on rental housing, which can imply ongoing pressure on the rental market. In areas where a majority of residents are renters, there is often a continuous demand for rental properties, leading to potential challenges for landlords and small-portfolio investors in terms of vacancy rates and tenant retention. A high renter share can also signal limited opportunities for homeownership, possibly due to economic factors or personal preferences, thereby sustaining the importance of rental properties in the local economy.
While specific metrics such as the percentage of price cuts and days on market (DOM) are currently unavailable, the closeness of the FMR and market rent figures suggests that the supply and demand dynamics are relatively balanced. However, the high renter share hints at a market where demand could easily outpace supply if new rental units do not continue to be added at a sufficient rate. Landlords and investors must remain vigilant to these trends and adjust their strategies accordingly to maintain occupancy levels and manage property costs effectively.
In summary, ZIP 63824 is characterized by a stable rental market with strong demand, particularly from renters. The current alignment of FMR and market rent points towards a balanced market, but the substantial renter share highlights the persistent need for rental housing, which could lead to increased competition among landlords and higher maintenance of rental properties to meet tenant expectations.
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.