Location: Dunklin County, MO | Metro: Dunklin County, MO
| Unit Size | Monthly FMR |
|---|---|
| Studio | $740 |
| 1 Bedroom | $760 |
| 2 Bedrooms | $1,000 |
| 3 Bedrooms | $1,380 |
| 4 Bedrooms | $1,630 |
| 5 Bedrooms | $1,891 |
| 6 Bedrooms | $2,118 |
| 7 Bedrooms | $2,287 |
| 8 Bedrooms | $2,401 |
U.S. Census Bureau data (2024)
The ZIP code 63829 represents a renter-heavy area with significant voucher demand. With a population of 1,070, over half (53.1%) of the residents are renters, indicating a strong rental market presence. The median household income in this ZIP code is $28,281, which is notably lower than the Fair Market Rent (FMR) for the metro area, set at $920 per month for FY 2026.
Given the median income, the typical market rent of $768 consumes a substantial portion of the average resident's monthly earnings. Specifically, the $768 rent represents approximately 27% of the median monthly income ($28,281/12 months = $2,356.75), leaving a narrow margin for other living expenses. This high percentage suggests that tenants in this area are likely to rely heavily on housing assistance programs such as Section 8 vouchers to afford their living costs.
Comparing the market rent to the FMR provides further insight into the financial pressures faced by tenants. At $768, the market rent is below the FMR but still constitutes a significant expense relative to the median income. Landlords in ZIP 63829 should anticipate a tenant pool that predominantly consists of individuals and families who require housing subsidies to meet their rent obligations. These tenants will likely have incomes that qualify them for federal assistance programs, reflecting the economic conditions of the area.
In summary, ZIP 63829 is characterized by a dense rental market with a high concentration of low-income households. Landlords should prepare for a tenant base that relies on government housing vouchers to cover a large part of their rent, given the financial landscape of the area. The expectation is for a steady demand for rental properties that accept Section 8 vouchers, aligning with the economic realities faced by most residents.
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.