Location: Carroll County, MO | Metro: Carroll County, MO
| Unit Size | Monthly FMR |
|---|---|
| Studio | $710 |
| 1 Bedroom | $740 |
| 2 Bedrooms | $960 |
| 3 Bedrooms | $1,190 |
| 4 Bedrooms | $1,540 |
| 5 Bedrooms | $1,786 |
| 6 Bedrooms | $2,000 |
| 7 Bedrooms | $2,160 |
| 8 Bedrooms | $2,268 |
U.S. Census Bureau data (2024)
The ZIP code 64639 presents a unique opportunity for landlords and small-portfolio investors interested in Section 8 tenants. With a population of 113, the percentage of renters at 11.6% suggests that while not overwhelmingly renter-heavy, there is still a notable presence of potential Section 8 tenants.
The median household income in this area stands at $59,107, which provides insight into the financial landscape. However, without specific data on market rents, it's challenging to determine exactly how much of the local income goes towards paying rent. Nonetheless, we can compare the median income to the Fair Market Rent (FMR) set by HUD, which for the metro area including ZIP 64639 is $890 per month for fiscal year 2026.
To put this into perspective, if we assume a typical household allocates about 30% of their income towards housing costs, the median income would support a monthly rent of approximately $1,773. This is significantly higher than the FMR, indicating that the typical rent in the area likely consumes less than half of the local median income. However, the actual portion of income spent on rent will vary depending on individual circumstances and the specific rental market dynamics in 64639.
Landlords in this ZIP should anticipate tenants who are likely to rely heavily on Section 8 vouchers due to the lower FMR compared to the median income. These tenants will be seeking affordable housing options, making properties that qualify for Section 8 particularly attractive.
The tenant profile expected here includes individuals and families who benefit from federal assistance to cover a substantial part of their housing costs. Landlords must ensure their properties meet the necessary standards and are registered to accept Section 8 vouchers. This strategy will align with the needs of the local tenant pool and maximize occupancy rates in an area where the demand for subsidized housing is evident.
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.