Location: Lawrence County, MO | Metro: Joplin, MO HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $710 |
| 1 Bedroom | $780 |
| 2 Bedrooms | $960 |
| 3 Bedrooms | $1,260 |
| 4 Bedrooms | $1,350 |
| 5 Bedrooms | $1,566 |
| 6 Bedrooms | $1,754 |
| 7 Bedrooms | $1,894 |
| 8 Bedrooms | $1,989 |
U.S. Census Bureau data (2024)
The market analysis for Section 8 investors in ZIP code 64748 reveals a favorable rental environment. The HUD Fair Market Rent (FMR) for the area is set at $800 per month for fiscal year 2024, which is slightly above the market rent reported by the Census American Community Survey (ACS), currently at $763. This indicates that voucher tenants will generally cashflow at the FMR, providing a positive margin for landlords and small-portfolio investors.
To further understand the investment potential, consider the median home value in the area, which stands at $152,138. Using this figure, we can calculate the rent-to-price ratio. With an average monthly rent of $763, the annual rent is approximately $9,156. Dividing this by the median home value gives us a rent-to-price ratio of about 0.06, or 6%. This ratio suggests that properties in this area are relatively affordable compared to their rental income potential.
The dynamics between renting and buying do not significantly impact the decision-making process for investors in ZIP 64748, as the data on days on market (DOM) and percentage of price cuts are not available. However, the lack of such data could imply stable pricing and demand, without frequent price adjustments or extended listing periods.
The strongest investor angle in ZIP 64748 is likely cashflow. Given that the FMR exceeds the market rent, landlords can expect a steady stream of income from voucher tenants without the need to offer premium units. This makes the area particularly attractive for those looking to generate consistent returns through rental income.
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.