Location: Sullivan County, MO | Metro: Grundy County, MO
| Unit Size | Monthly FMR |
|---|---|
| Studio | $710 |
| 1 Bedroom | $740 |
| 2 Bedrooms | $960 |
| 3 Bedrooms | $1,280 |
| 4 Bedrooms | $1,440 |
| 5 Bedrooms | $1,670 |
| 6 Bedrooms | $1,870 |
| 7 Bedrooms | $2,020 |
| 8 Bedrooms | $2,121 |
U.S. Census Bureau data (2024)
The real estate landscape in ZIP code 64652 presents a nuanced scenario for landlords and small-portfolio investors. With the median home value being currently unavailable, it's crucial to consider other metrics such as the percentage of listings that have been reduced and the median days on market (DOM), which are also not provided. However, these missing figures suggest a potential lack of recent data, indicating that market activity might be lower than in more frequently updated areas.
The Forward Mortgage Rate (FMR) for the metro area, projected at $890 for fiscal year 2026, stands in stark contrast to the current market rent of $492 as reported by the Census ACS. This significant gap signals a strong opportunity for rental income growth, assuming the FMR reflects future market trends accurately. Landlords can leverage this potential increase in rental rates to adjust their pricing strategies, thereby enhancing profitability in the long term.
For long-hold investors, the setup implies a cautious approach. The absence of specific data on home value appreciation and the current low market activity suggest that capital appreciation may not be a robust strategy in the near future. Instead, focusing on rental income could provide a more stable return on investment. The disparity between the FMR and current market rents indicates that there is room for rental rate increases, which can be a reliable source of income growth.
In summary, while the data for ZIP 64652 is sparse, the existing figures point towards a market where rental income dynamics are more favorable than home value appreciation. Investors should consider adjusting their rental rates in line with projected FMRs to capitalize on this trend.
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.