Location: Barton County, MO | Metro: Joplin, MO HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,050 |
| 1 Bedroom | $1,080 |
| 2 Bedrooms | $1,360 |
| 3 Bedrooms | $1,780 |
| 4 Bedrooms | $1,900 |
| 5 Bedrooms | $2,204 |
| 6 Bedrooms | $2,468 |
| 7 Bedrooms | $2,665 |
| 8 Bedrooms | $2,798 |
U.S. Census Bureau data (2024)
The analysis of ZIP code 64832 reveals a mix of yield potential and stability, positioning it as an area offering moderate opportunities for both steady cash flow and higher-risk, higher-reward investments.
On the yield axis, the Fair Market Rent (FMR) for ZIP 64832 is set at $1,200 for fiscal year 2024, which is notably above the market rent of $1,139. This suggests that properties in this ZIP can command rents slightly higher than the local average, providing a modest edge for landlords. However, the median home value of $282,896 indicates a significant capital investment, potentially limiting the overall yield when considering property costs. The discrepancy between the FMR and market rent points to a favorable rental environment but with inherent competition.
In terms of stability, the ZIP code shows a 19.3% rate of renters, which is relatively low, suggesting a preference for homeownership in the area. While this might reduce the pool of potential tenants, it also implies a stable community with long-term residents. The median household income of $98,750 provides assurance that tenants can afford their rent payments, contributing to the financial stability of rental properties. The lack of data on days on market (DOM) makes it challenging to assess the speed at which properties turn over, but given the income levels, it is reasonable to assume a steady demand for housing.
The classification of ZIP 64832 leans towards a steady-cashflow zone rather than a high-yield/low-stability flip-style market. The slightly elevated FMR compared to the market rent supports this conclusion, as does the median income figure, which underpins the ability of residents to sustain rental payments. Landlords and small-portfolio investors should focus on properties that offer a balance between rental income and capital appreciation, ensuring a reliable and sustainable return on investment.
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.