Location: Vernon County, MO | Metro: Vernon County, MO
| Unit Size | Monthly FMR |
|---|---|
| Studio | $770 |
| 1 Bedroom | $790 |
| 2 Bedrooms | $1,040 |
| 3 Bedrooms | $1,300 |
| 4 Bedrooms | $1,630 |
| 5 Bedrooms | $1,891 |
| 6 Bedrooms | $2,118 |
| 7 Bedrooms | $2,287 |
| 8 Bedrooms | $2,401 |
U.S. Census Bureau data (2024)
The classification of ZIP 64778, located in Richards, Missouri, hinges on the balance between yield and stability. With a Fair Market Rent (FMR) of $950 for the fiscal year 2026, it aligns closely with the broader metropolitan area. However, the market value of homes at $248,992 suggests a relatively stable investment environment.
The yield aspect is driven by the FMR figure, which indicates that rental income is likely to be modest compared to the overall home value. This is further underscored by the 15.8% of residents who are renters, indicating a smaller rental market share. Despite the lack of specific data on days on market (DOM), the income level of $59,737 suggests that there is sufficient economic activity to support a steady cash flow from rental properties.
To classify ZIP 64778, consider the following key metrics:
Given these figures, ZIP 64778 leans towards being a steady-cashflow zone rather than a high-yield/low-stability market. The modest rental income coupled with the stable home values and decent average income levels make it a reliable choice for small-portfolio investors looking for consistent returns rather than rapid appreciation or flipping opportunities.
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.