Location: Carroll County, MO | Metro: Carroll County, MO
| Unit Size | Monthly FMR |
|---|---|
| Studio | $710 |
| 1 Bedroom | $740 |
| 2 Bedrooms | $970 |
| 3 Bedrooms | $1,200 |
| 4 Bedrooms | $1,550 |
| 5 Bedrooms | $1,798 |
| 6 Bedrooms | $2,014 |
| 7 Bedrooms | $2,175 |
| 8 Bedrooms | $2,284 |
U.S. Census Bureau data (2024)
The market in ZIP code 64633 is currently experiencing a dynamic equilibrium, with rental market fundamentals indicating a slight tilt towards demand over supply. The Fair Market Rent (FMR) for the area, set at $890 for fiscal year 2026, slightly exceeds the market rent of $836 as reported by the Census Bureau's American Community Survey (ACS). This suggests that landlords may be positioning their rents slightly above the average market rate, anticipating future increases.
The low price-cut share of 0.1% implies that very few properties are being discounted, which is indicative of a stable market where property owners are generally achieving their asking prices without significant concessions. The median home value of $148,784 provides a baseline for the overall property values in the area, but it does not directly reflect the rental market conditions.
A notable feature of the ZIP code 64633 market is the 34.5% renter share. This percentage highlights a substantial portion of the population that relies on rental housing, suggesting ongoing long-term housing pressure. In areas with a high renter share, there tends to be a consistent demand for rental units, as many residents are unable or unwilling to purchase homes. This can create a resilient rental market, less susceptible to short-term fluctuations.
The combination of these factors—FMR exceeding market rent, minimal price cuts, and a significant renter share—paints a picture of a market where demand is steady and potentially growing. Landlords and small-portfolio investors should take note of the persistent rental demand and consider how to position their properties to meet this need effectively. However, the absence of specific days on the market (DOM) data limits a deeper analysis into the speed of transactions, which could provide additional insights into the balance between supply and demand.
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.