Location: Joplin, MO | Metro: Joplin, MO HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $850 |
| 1 Bedroom | $860 |
| 2 Bedrooms | $1,090 |
| 3 Bedrooms | $1,420 |
| 4 Bedrooms | $1,550 |
| 5 Bedrooms | $1,798 |
| 6 Bedrooms | $2,014 |
| 7 Bedrooms | $2,175 |
| 8 Bedrooms | $2,284 |
U.S. Census Bureau data (2024)
The classification of ZIP code 64830 hinges on the analysis of key metrics including the Fair Market Rent (FMR), rental market dynamics, and median household income. For fiscal year 2024, the FMR for Section 8 housing in ZIP 64830 is set at $1070. This figure represents the maximum amount that landlords can charge for rent under the program, which is significantly higher than the average market rent of $865. The disparity between these two values suggests a potential for high yields for landlords participating in the Section 8 program.
However, the stability of the market must also be considered. With 32.3% of residents being renters, there is a moderate level of demand for rental properties. While the data does not provide days on market (DOM) for vacant homes, the median household income of $51,510 offers insight into the financial health of the area's residents. This income level supports the ability of tenants to pay rent consistently, contributing to the stability of cash flows for landlords.
Given these factors, ZIP 64830 leans towards a steady-cashflow zone. The higher FMR compared to market rents ensures landlords receive a better rate, but the moderate rental population percentage and median income indicate a stable tenant base rather than volatile market conditions. This makes it an attractive option for small-portfolio investors seeking reliable returns without the risks associated with high-yield markets that often come with lower stability.
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.