Location: Daviess County, MO | Metro: Kansas City, MO-KS HUD Metro FMR Area
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 | $780 |
| 1 Bedroom | $840 |
| 2 Bedrooms | $960 |
| 3 Bedrooms | $1,250 |
| 4 Bedrooms | $1,500 |
| 5 Bedrooms | $1,740 |
| 6 Bedrooms | $1,949 |
| 7 Bedrooms | $2,105 |
| 8 Bedrooms | $2,210 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,250 | $239,306 | 0.52% | F |
U.S. Census Bureau data (2024)
The analysis of ZIP code 64644, located in Daviess County, Missouri, reveals several key points for potential landlords and small-portfolio investors.
Firstly, the rent math does not work in favor of landlords. The Fair Market Rent (FMR) for the zip code in fiscal year 2024 is set at $1,050. However, the Census ACS indicates that the market rent stands at $685. This significant gap suggests that landlords may struggle to charge the FMR due to lower actual market rates, leading to potential financial losses if they aim to match the FMR.
Secondly, the acquisition of properties in this area is somewhat affordable. The median home value is $232,445. Unfortunately, the data on days on market (DOM) and the percentage of homes that have been price-cut is not available, which could provide further insight into the ease of acquiring properties at favorable prices. Nonetheless, the median home value is a reasonable figure for entry-level investments, especially when compared to more expensive markets.
Lastly, there is a notable tenant demand in ZIP 64644. With a total population of 2,923, the renter share is a substantial 27.8%. This means that approximately 807 individuals are likely to be seeking rental housing, indicating a steady stream of potential tenants.
Verdict: While the rent math does not currently support charging the Fair Market Rent, the acquisition cost of properties is reasonable, and there is a decent tenant demand. Landlords should consider setting rents closer to the market rate of $685 to ensure occupancy and profitability. Additionally, the lack of detailed DOM and price-cut data means that more research is needed to fully assess the affordability of acquisitions. Overall, ZIP 64644 presents a viable opportunity for landlords willing to adjust their expectations and align with market realities.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.