Location: Nodaway County, MO | Metro: Nodaway County, MO
| Unit Size | Monthly FMR |
|---|---|
| Studio | $840 |
| 1 Bedroom | $840 |
| 2 Bedrooms | $1,080 |
| 3 Bedrooms | $1,380 |
| 4 Bedrooms | $1,810 |
| 5 Bedrooms | $2,100 |
| 6 Bedrooms | $2,352 |
| 7 Bedrooms | $2,540 |
| 8 Bedrooms | $2,667 |
U.S. Census Bureau data (2024)
The ZIP code 64476 is situated in a suburban area characterized by a relatively small population of 223 residents. Only 16.5% of these residents are renters, indicating a predominantly owner-occupied community. The median household income in this area stands at $73,250, suggesting a middle-class demographic. Notably, the median home value is not available, which could imply a lack of recent sales data or an underdeveloped housing market.
Moving into the specifics of rental economics, the Fair Market Rent (FMR) for the metro area for fiscal year 2026 is set at $890. This figure contrasts sharply with the actual market rent of $1,088, as reported by the Census ACS. This gap indicates that there is a higher demand for rental properties in this area compared to what the government considers fair market value, potentially offering opportunities for investors who can manage properties effectively to capture this premium.
Given the characteristics of ZIP 64476, it would likely appeal more to a hands-on value-add buyer rather than a hands-off voucher operator. The relatively low percentage of renters suggests that the potential tenant pool is limited, making it challenging for hands-off operators who rely heavily on voucher tenants. Conversely, a value-add buyer could focus on improving property quality and leveraging the higher market rents to increase profitability.
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.