Location: Livingston County, MO | Metro: Livingston County, MO
| Unit Size | Monthly FMR |
|---|---|
| Studio | $710 |
| 1 Bedroom | $740 |
| 2 Bedrooms | $960 |
| 3 Bedrooms | $1,230 |
| 4 Bedrooms | $1,610 |
| 5 Bedrooms | $1,868 |
| 6 Bedrooms | $2,092 |
| 7 Bedrooms | $2,259 |
| 8 Bedrooms | $2,372 |
U.S. Census Bureau data (2024)
The ZIP code 64656 represents a unique neighborhood with a population of 237 residents. This area stands out due to its high percentage of renters at 35.4%, indicating a significant portion of the community relies on rental housing. The median income here is $58,438, which is relatively modest but still supports a comfortable standard of living. The median home value in this neighborhood is $169,022, suggesting that it is affordable for many potential homeowners and renters alike.
Moving into the specifics of rental economics, the Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $890. However, the actual market rent in ZIP 64656, according to Census ACS data, is lower at $639. This discrepancy between the FMR and the market rent can be advantageous for Section 8 investors, as it allows them to potentially charge closer to the FMR while still being within the bounds of affordability for tenants receiving rental assistance.
Given these economic conditions, ZIP 64656 would suit both hands-off voucher operators and hands-on value-add buyers. For hands-off operators, the lower market rent compared to the FMR means there is room to increase rents without deterring eligible tenants. For value-add buyers, the modest median income and median home value suggest opportunities to improve properties and command higher rents, still within the FMR guidelines, thus increasing profitability. Both strategies can be successful here, depending on the investor's goals and risk tolerance.
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.