Location: Holt County, MO | Metro: Holt County, MO
| Unit Size | Monthly FMR |
|---|---|
| Studio | $710 |
| 1 Bedroom | $740 |
| 2 Bedrooms | $960 |
| 3 Bedrooms | $1,200 |
| 4 Bedrooms | $1,440 |
| 5 Bedrooms | $1,670 |
| 6 Bedrooms | $1,870 |
| 7 Bedrooms | $2,020 |
| 8 Bedrooms | $2,121 |
U.S. Census Bureau data (2024)
The ZIP code 64473, with a population of 1,285, is characterized by a moderate rental presence, with 22.5% of residents being renters. This indicates that while there is a significant number of renters, it is not a heavily renter-dominated area. The median household income stands at $63,313, which provides a baseline for understanding the economic context of potential tenants.
The typical market rent of $611 is notably lower than the Fair Market Rent (FMR) of $890, as determined for fiscal year 2026 in the metropolitan area. This suggests that landlords in ZIP 64473 can potentially offer competitive rents while still falling below the FMR threshold, making their properties attractive to tenants who might be using housing vouchers.
To gauge the affordability of the market rent relative to the median income, we calculate that $611 represents approximately 9.6% of the median monthly income ($63,313 annual income divided by 12 months). This means that the average rent consumes a reasonable portion of the local income, leaving tenants with sufficient funds for other living expenses.
The discrepancy between the market rent and the FMR highlights an opportunity for landlords. At $611, the typical rent is well below the $890 FMR, indicating that tenants with vouchers could easily cover the rent, likely with substantial leftover funds. This makes ZIP 64473 a favorable location for landlords looking to attract Section 8 tenants, as the rent is affordable and leaves room for landlords to benefit from the additional financial support provided by the housing voucher program.
A landlord in ZIP 64473 should expect tenants who are financially stable enough to contribute a portion of their income towards rent but also have the means to pay the remainder through housing vouchers. These tenants will likely appreciate the lower-than-average market rent, which is more aligned with their income levels and the assistance they receive from the government. Additionally, landlords should prepare for a mix of tenants, some of whom may be first-time renters or transitioning from homeownership due to economic changes.
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.