Location: St. Joseph, MO | Metro: St. Joseph, MO-KS MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $830 |
| 1 Bedroom | $840 |
| 2 Bedrooms | $1,080 |
| 3 Bedrooms | $1,380 |
| 4 Bedrooms | $1,600 |
| 5 Bedrooms | $1,856 |
| 6 Bedrooms | $2,079 |
| 7 Bedrooms | $2,245 |
| 8 Bedrooms | $2,357 |
U.S. Census Bureau data (2024)
The ZIP code 64443 presents a moderate tenant pool for Section 8 housing. With a population of 1,249, only 21.9% of residents are renters, indicating that this area is not heavily dominated by rental housing. The median household income stands at $86,042, which is relatively high compared to the national average.
The market rent for the area is $754, representing approximately 8.8% of the median household income. This suggests that the majority of residents can afford market rents without assistance. However, when considering the Fair Market Rent (FMR) set at $940 for FY 2024, it becomes evident that those relying on Section 8 vouchers may struggle to find suitable housing without additional subsidies, given the gap between market rent and FMR.
A landlord in ZIP 64443 should anticipate a tenant profile characterized by individuals who are likely to need financial assistance to cover their rent. These tenants will typically have lower incomes relative to the median household income. While the percentage of renters is not particularly high, the disparity between market rent and FMR points towards a segment of the population that would benefit from Section 8 vouchers. Landlords must be prepared to work within the constraints and regulations associated with accepting these vouchers.
To conclude, while 64443 is not a renter-heavy ZIP with deep voucher demand, there is still a notable portion of the population that could utilize Section 8 vouchers. Given the income levels, typical rents consume a small portion of the average income, but for those needing assistance, finding affordable housing may be challenging. Landlords should expect tenants who require the support of Section 8 vouchers and understand the implications this has on their property management practices.
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.