Location: Worth County, MO | Metro: Nodaway County, MO
| Unit Size | Monthly FMR |
|---|---|
| Studio | $740 |
| 1 Bedroom | $760 |
| 2 Bedrooms | $980 |
| 3 Bedrooms | $1,250 |
| 4 Bedrooms | $1,580 |
| 5 Bedrooms | $1,833 |
| 6 Bedrooms | $2,053 |
| 7 Bedrooms | $2,217 |
| 8 Bedrooms | $2,328 |
U.S. Census Bureau data (2024)
The ZIP code 64475 presents a dynamic rental market that is indicative of underlying housing pressures. With a Fair Market Rent (FMR) set at $910 for the fiscal year 2026, the federal benchmark suggests a moderate level of affordability for renters. However, the actual market rent, as per the latest Census ACS data, stands significantly lower at $397. This discrepancy between the FMR and the actual market rent can be interpreted as a sign of either an oversupply of rental units or a strong presence of subsidized housing.
The median home value of $235,083 provides insight into the overall economic landscape of the area, indicating that it is a middle-income neighborhood. Given the lack of specific data on price-cut shares and days on market (DOM), we cannot definitively conclude whether supply outpaces demand or vice versa. However, the low market rent compared to the FMR might suggest that there is a higher supply of rental properties relative to demand, which could be a result of various factors including new construction, conversions from owner-occupied to rental, or an influx of affordable housing units.
A notable statistic is the 28.5% renter share, which reveals a significant portion of the population relies on rental housing. This high percentage of renters can indicate long-term housing pressure, particularly if a large segment of the population is unable to afford homeownership due to economic constraints. It also points towards a potential vulnerability in the housing market, as changes in rental policies or economic conditions can directly affect a substantial number of residents.
In summary, ZIP 64475 appears to be a market characterized by a balance between affordability and pressure, with a significant renter population that could signal ongoing challenges in achieving homeownership. The dynamics of the market, as reflected in the disparity between FMR and market rent, suggest a complex interplay of supply and demand factors that influence housing trends in the area.
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.