Location: Harrison County, MO | Metro: Harrison County, MO
| Unit Size | Monthly FMR |
|---|---|
| Studio | $720 |
| 1 Bedroom | $750 |
| 2 Bedrooms | $970 |
| 3 Bedrooms | $1,260 |
| 4 Bedrooms | $1,300 |
| 5 Bedrooms | $1,508 |
| 6 Bedrooms | $1,689 |
| 7 Bedrooms | $1,824 |
| 8 Bedrooms | $1,915 |
U.S. Census Bureau data (2024)
The ZIP code 64481, located in Harrison County, Missouri, is a strong candidate for inclusion in a Section 8 portfolio strategy due to its characteristics as a cash-flow anchor. The median home value in this area stands at $118,750, which is significantly lower than the FMR (Fair Market Rent) of $900 for the metro area in fiscal year 2026. This creates a substantial spread, with the market rent being approximately $521. Landlords can leverage this spread to ensure positive cash flow from properties in this ZIP code.
The disparity between the FMR and the actual market rent suggests that there is ample opportunity to secure tenants through the Section 8 program while still maintaining a healthy profit margin. For instance, if a landlord charges $521 in rent, they can receive a subsidy to bring the total rental income closer to the $900 FMR, thereby securing a steady cash flow without having to charge market rates.
While the area does not show significant appreciation potential, with the home values increasing only 2.5% over the past year, it remains a stable investment option. The low median home value and the manageable market rent make it an ideal location for landlords looking to build a reliable cash-generating portfolio. The median income of $55,341 indicates that there is a sufficient number of households eligible for the Section 8 program, further supporting the viability of this strategy.
In conclusion, ZIP 64481 serves as a cash-flow anchor within a Section 8 portfolio strategy. The spread between the FMR and market rent, along with the low median home value, allows landlords to benefit from steady cash flow while minimizing risks associated with property appreciation or depreciation. This makes it an attractive option for small-portfolio investors seeking stability and predictable returns.
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.