Location: St. Joseph, MO | Metro: St. Joseph, MO-KS MSA
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $800 |
| 1 Bedroom | $810 |
| 2 Bedrooms | $1,040 |
| 3 Bedrooms | $1,330 |
| 4 Bedrooms | $1,540 |
| 5 Bedrooms | $1,786 |
| 6 Bedrooms | $2,000 |
| 7 Bedrooms | $2,160 |
| 8 Bedrooms | $2,268 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,040 | $188,840 | 0.55% | F |
| 3BR | $1,330 | $271,034 | 0.49% | F |
| 4BR | $1,540 | $359,181 | 0.43% | F |
U.S. Census Bureau data (2024)
The real estate market in ZIP 64485, Savannah, MO, presents a nuanced landscape that both landlords and small-portfolio investors should carefully consider. The median home value stands at $266,771, indicating a relatively stable housing price point. This stability is further supported by the fact that only 0.2% of listings have been reduced, suggesting strong seller's pricing power. However, the median days on market (DOM) being listed as N/A could imply either an exceptionally quick sale rate or a limited number of transactions, both of which can affect the overall market dynamics.
The data signals a robust position for landlords and investors looking to maintain or increase their rental income. The Fair Market Rent (FMR) for ZIP 64485 in fiscal year 2024 is set at $930, while the current market rent, according to the Census ACS, is $852. This gap suggests potential for increasing rents to align with the FMR, benefiting those who own properties outright or are considering property acquisitions.
For long-term hold investors, the appreciation thesis in Savannah, MO, appears realistic but cautious. The slight reduction in listings and the stable median home value indicate a market that is unlikely to experience rapid appreciation. Instead, it suggests a steady growth trajectory, where property values may incrementally rise over time, driven by factors such as economic development and population stability. Long-term investors should focus on consistent cash flow from rentals and moderate capital appreciation rather than speculative gains.
In summary, the current market conditions in ZIP 64485 favor maintaining strong rental pricing and a conservative approach to capital appreciation. Investors should leverage the existing median home value and the FMR trend to ensure profitability in their investments.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.