Location: Joplin, MO | Metro: Joplin, MO HUD Metro FMR Area
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $940 |
| 1 Bedroom | $950 |
| 2 Bedrooms | $1,200 |
| 3 Bedrooms | $1,560 |
| 4 Bedrooms | $1,700 |
| 5 Bedrooms | $1,972 |
| 6 Bedrooms | $2,209 |
| 7 Bedrooms | $2,386 |
| 8 Bedrooms | $2,505 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,200 | $116,822 | 1.03% | B |
| 3BR | $1,560 | $194,749 | 0.8% | C |
| 4BR | $1,700 | $288,827 | 0.59% | F |
U.S. Census Bureau data (2024)
The market analysis for Section 8 investors in ZIP code 64801, located in Joplin, Missouri, reveals several key points that are crucial for understanding the investment landscape. The HUD Fair Market Rent (FMR) for this area in fiscal year 2024 is set at $970 per month. In comparison, the Zillow Observed Rental Index (ZORI) for the same area indicates an average market rent of $1,052 per month. This means that voucher tenants will generally cashflow marginally at the FMR rate, as the market rent slightly exceeds the voucher amount.
To further analyze the investment potential, consider the median home value in the area, which stands at $191,110. Based on this figure and the average market rent, the rent-to-price ratio can be calculated. At $1,052 per month, the annual rental income is approximately $12,624. Dividing this by the median home value yields a rent-to-price ratio of roughly 6.6%, indicating that rental properties in this area provide a modest return relative to property values.
The dynamics of the local real estate market also play a role in the decision-making process for investors. With a median Days on Market (DOM) of 32 days and a price-cut share of just 0.2%, it's evident that the rental market is relatively stable and quick to turn over. This suggests that landlords and small-portfolio investors can expect steady occupancy rates without the need for frequent price adjustments.
In conclusion, while the voucher tenants in ZIP 64801 will typically cashflow marginally at the FMR rate, the strong rent-to-price ratio and the quick turnover rate in the rental market make stability the strongest investor angle. This stability ensures consistent cash flow and minimal risk of vacancy, providing a solid foundation for long-term investment success.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.