Section 8 Fair Market Rent (FMR) for ZIP 64422 - 2027

Location: St. Joseph, MO | Metro: St. Joseph, MO-KS MSA

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$780
1 Bedroom	$800
2 Bedrooms	$1,020
3 Bedrooms	$1,310
4 Bedrooms	$1,520
5 Bedrooms	$1,763
6 Bedrooms	$1,975
7 Bedrooms	$2,133
8 Bedrooms	$2,240

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

350

Median Household Income

$68,882

Housing Units

171

Renter Percentage

15.7%

Occupancy Rate

74.3%

Renter Occupied

The ZIP code 64422, located within the St. Joseph, MO-KS MSA, has a Fair Market Rent (FMR) of $900 for fiscal year 2024. This figure is crucial for landlords and small-portfolio investors as it indicates the maximum allowable rent for Section 8 housing vouchers in that area.

In comparison to typical ZIP codes within the St. Joseph, MO-KS MSA, 64422's FMR suggests it falls into the mid-tier neighborhood category. The lack of market rent and home value data makes it challenging to provide a comprehensive analysis, but the FMR can serve as a reliable indicator of rental affordability.

A notable aspect of ZIP 64422 is its 15.7% renter share, which is higher than the average for many other ZIP codes in the region. Typically, a higher percentage of renters can signal a greater demand for affordable housing options, aligning well with the Section 8 program.

While the home value data is not available, the combination of a below-average FMR and a higher-than-average renter share could indicate that 64422 is a value pocket within the St. Joseph, MO-KS MSA. This means it offers good opportunities for landlords who are willing to participate in the Section 8 program, as they can attract tenants without setting rents at premium levels.

To further contextualize this analysis, consider the following:

Fiscal Year 2024 FMR: At $900, the FMR for 64422 is likely to be competitive within the metro area, offering landlords a reasonable rate while still being accessible to voucher holders.
Renter Share: With 15.7% of residents being renters, there is a significant portion of the population that might benefit from and utilize Section 8 vouchers, making the ZIP code attractive for properties eligible under the program.

The absence of market rent and home value data prevents a direct comparison to other ZIP codes, but the existing figures suggest that 64422 is positioned as a value pocket within the St. Joseph, MO-KS MSA. Landlords should focus on the demand for affordable rentals and the potential benefits of participating in the Section 8 program to maximize their investment opportunities in this ZIP code.

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.