Location: St. Joseph, MO | Metro: St. Joseph, MO-KS MSA
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,200 |
| 1 Bedroom | $1,210 |
| 2 Bedrooms | $1,560 |
| 3 Bedrooms | $1,990 |
| 4 Bedrooms | $2,310 |
| 5 Bedrooms | $2,680 |
| 6 Bedrooms | $3,002 |
| 7 Bedrooms | $3,242 |
| 8 Bedrooms | $3,404 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,560 | $168,175 | 0.93% | C |
| 3BR | $1,990 | $298,681 | 0.67% | D |
U.S. Census Bureau data (2024)
The ZIP code 64421, located in Amazonia, Missouri, presents a market in equilibrium, with slight indications that demand may be edging closer to supply. The Fair Market Rent (FMR) for the area is set at $1250 for fiscal year 2024, while the market rent, according to the Census American Community Survey (ACS), is slightly higher at $1,264. This suggests that the rental market is closely aligned with government benchmarks, indicating stability but also hinting at a minor upward pressure on rents.
The median home value in ZIP 64421 is $180,476. Although there's no specific data on the percentage of price cuts or days on market (DOM), the median home value can give us insight into the overall health of the housing market. A median home value suggests that the majority of homes are priced around this figure, which could indicate a stable market where neither buyers nor sellers are under extreme pressure.
The renter share in ZIP 64421 is 16.6%. This relatively low percentage of renters implies that homeownership is predominant in the area. However, a higher proportion of renters can lead to long-term housing pressure, as it indicates a significant portion of the population that may eventually seek to purchase homes. With a lower renter share, there is less immediate pressure on rental properties, but it also means fewer opportunities for short-term speculative investments in rental properties.
In summary, ZIP 64421 appears to be a market where demand is steady and close to supply, with rental rates slightly above the FMR and a median home value that reflects a balanced market. The low renter share suggests that homeownership is the primary form of housing, which can be beneficial for long-term investment stability but may limit the growth potential of rental properties.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.