Location: Sullivan County, MO | Metro: Grundy County, MO
| Unit Size | Monthly FMR |
|---|---|
| Studio | $820 |
| 1 Bedroom | $850 |
| 2 Bedrooms | $1,110 |
| 3 Bedrooms | $1,470 |
| 4 Bedrooms | $1,660 |
| 5 Bedrooms | $1,926 |
| 6 Bedrooms | $2,157 |
| 7 Bedrooms | $2,330 |
| 8 Bedrooms | $2,447 |
U.S. Census Bureau data (2024)
The analysis of ZIP code 64641 in Sullivan County, Missouri, reveals several key points that are essential for landlords and small-portfolio investors considering investment in this area.
The rent math does not favorably align with the financial goals of potential investors. The Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $890, whereas the actual market rent, according to the Census ACS, stands at $663. This indicates a gap where the expected rent is lower than the benchmark, suggesting that properties in this area might not generate the income levels anticipated under the FMR guidelines.
Regarding property acquisition, the data presents challenges. With a median home value marked as N/A, it's unclear what the typical cost of acquiring a property would be. Additionally, the Days on Market (DOM) and percentage of homes that have had their prices cut are also listed as N/A, which means there is insufficient data to assess how competitive the market is for buying homes. This lack of clarity makes it difficult to determine if acquisitions can be made at affordable prices.
Tenant demand appears to be moderate. The ZIP code has a total population of 625, with 33.5% of residents being renters. This implies that there is a consistent but relatively small pool of potential tenants, which could support a limited number of rental units. However, the small size of the population means that any significant changes in the local economy could disproportionately affect the rental market.
In summary, ZIP 64641 offers a mixed picture for real estate investors. While there is a steady demand for rentals, the discrepancy between FMR and actual market rents suggests lower income potential. The lack of specific data on median home values, DOM, and price-cut shares complicates the assessment of property acquisition costs. Investors should proceed cautiously, ensuring they conduct thorough due diligence and possibly look into other ZIP codes with clearer data and better alignment between market rents and FMRs.
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.