Location: St. Clair County, MO | Metro: Bates County, MO HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $690 |
| 1 Bedroom | $750 |
| 2 Bedrooms | $980 |
| 3 Bedrooms | $1,270 |
| 4 Bedrooms | $1,400 |
| 5 Bedrooms | $1,624 |
| 6 Bedrooms | $1,819 |
| 7 Bedrooms | $1,965 |
| 8 Bedrooms | $2,063 |
U.S. Census Bureau data (2024)
The ZIP code 64770 has a population of 1,151 residents, with 25.7% being renters. This indicates that while there is a notable rental presence, it is not a heavily renter-dominated area. The median household income stands at $61,908, which provides a baseline for assessing the affordability of rents.
A market rent of $780 represents approximately 15.5% of the median household income. This calculation is derived from dividing the market rent by the median income ($780 / $61,908 = 0.0126, or 15.5%). In comparison to the Fair Market Rent (FMR) of $960 for FY 2024, the current market rent is lower, suggesting that properties priced at $780 are more affordable relative to the income levels of the area.
The FMR is set to ensure that housing costs do not exceed a reasonable portion of a household's income. In ZIP 64770, the $960 FMR would consume about 15.5% of the median income as well, but since market rents are currently below this level, tenants have more disposable income after paying rent. However, the percentage remains consistent, indicating that rent is still a significant portion of the income for many households.
Landlords in this ZIP code can expect a tenant pool that includes individuals and families who rely on Section 8 vouchers to afford housing. Given the median income and the lower market rents compared to the FMR, these tenants are likely to be economically constrained and may require assistance to meet their housing needs. The expected tenant will need to carefully manage their budget, with rent taking up a substantial part of their monthly income.
To summarize, ZIP 64770 is moderately renter-heavy with a noticeable demand for Section 8 vouchers. The typical rent eats up around 15.5% of the local median income, making it a challenging but manageable expense for most tenants. Landlords should prepare for tenants who are price-sensitive and may need financial support to cover their housing costs.
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.