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)
The market in ZIP code 63882 presents a dynamic scenario that is indicative of housing pressures and potential shifts in the rental landscape. With a Fair Market Rent (FMR) set at $890 for the fiscal year 2026, this figure represents the benchmark for rental costs in the area, established by the U.S. Department of Housing and Urban Development (HUD) for Section 8 housing vouchers. However, the actual market rent, as reported by the Census Bureau's American Community Survey (ACS), stands at $594. This discrepancy suggests that the HUD's FMR may be higher than what the market currently supports, indicating a possible oversupply of rental units or a need for adjustment in the HUD's calculation.
The 24.2% renter share highlights a significant portion of the population that relies on renting as their primary means of housing. In areas with a high renter share, there is often greater long-term housing pressure due to the limited availability of affordable homeownership options. Landlords and small-portfolio investors should recognize this trend as it implies a steady demand for rental properties, especially those that offer affordability and accessibility.
While specific figures for price-cut share and days on market (DOM) are not available, the lower market rent compared to the FMR can be interpreted as a sign of a competitive rental market. Landlords might face challenges in setting rents above the market rate without adjusting their property offerings or amenities to justify higher costs. The median home value being unavailable points to either a lack of data or a transient market condition where home values fluctuate significantly, making it difficult to establish a consistent baseline.
In conclusion, ZIP 63882 appears to be a market characterized by a balance between supply and demand, albeit with a tilt towards renters. The high renter share underscores the importance of maintaining competitive pricing and quality to attract tenants in an environment where rental options are plentiful but affordable homeownership is less so. For investors, understanding these dynamics is crucial for making informed decisions about property management and investment strategies.
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.