Location: Harrison County, MO | Metro: Harrison County, MO
| Unit Size | Monthly FMR |
|---|---|
| Studio | $710 |
| 1 Bedroom | $740 |
| 2 Bedrooms | $960 |
| 3 Bedrooms | $1,250 |
| 4 Bedrooms | $1,260 |
| 5 Bedrooms | $1,462 |
| 6 Bedrooms | $1,637 |
| 7 Bedrooms | $1,768 |
| 8 Bedrooms | $1,856 |
U.S. Census Bureau data (2024)
The ZIP code 64424, located within the Harrison County, MO metro, presents a unique set of characteristics when compared to the typical ZIP codes in the same county. With a Fair Market Rent (FMR) of $890 for fiscal year 2026, it stands slightly above the average market rent of $703, indicating that properties here are expected to command higher rents relative to what the market currently offers.
The median home value in ZIP 64424 is $133,905, which is notably lower than the metro's FMR, suggesting that this area could be considered a value pocket for potential investors looking to purchase properties at a lower price point while still being able to charge rents that meet or exceed the FMR. This discrepancy between lower home values and higher expected rental income can be particularly advantageous for those interested in Section 8 housing opportunities.
A significant 37.0% of the population in 64424 are renters, a figure that is likely above the average renter share in other ZIP codes within Harrison County. This high renter share combined with below-metro home values often signals a sweet spot for Section 8 investment. Landlords can benefit from the higher demand for rental units without having to invest in more expensive properties found in other parts of the metro.
To summarize, ZIP 64424 is positioned as a value pocket within the Harrison County, MO metro. It offers an opportunity for investors to acquire homes at a median value of $133,905 while expecting to achieve rental income close to the FMR of $890. The high renter share further supports the attractiveness of this area for rental investments, especially under the Section 8 program.
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.