Location: Joplin, MO | Metro: Joplin, MO HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $840 |
| 1 Bedroom | $840 |
| 2 Bedrooms | $1,070 |
| 3 Bedrooms | $1,390 |
| 4 Bedrooms | $1,520 |
| 5 Bedrooms | $1,763 |
| 6 Bedrooms | $1,975 |
| 7 Bedrooms | $2,133 |
| 8 Bedrooms | $2,240 |
U.S. Census Bureau data (2024)
ZIP code 64835, located within the Joplin, MO HUD Metro FMR Area, has a Fair Market Rent (FMR) of $910 for fiscal year 2024. This figure is slightly above the typical market rent of $796, indicating that properties in this ZIP are priced higher than what the average renter might pay in the broader Joplin area.
The lack of available data on home values suggests that 64835 may be predominantly a rental market, which aligns with its relatively high renter share of 26.0%. This share is notably higher than the typical share in the Joplin, MO HUD Metro FMR Area, implying a significant concentration of renters in 64835 compared to other areas within the same metro region.
In terms of classification within the metro, 64835 appears to be a mid-tier neighborhood. Its FMR is above the market rent, suggesting it is not the most affordable area but also not commanding premium rates. The absence of home value data further supports this assessment, as it points towards a strong rental presence rather than an owner-occupied premium sub-market.
However, the high renter share in conjunction with the below-metro FMR could signal a potential sweet spot for Section 8 landlords and small-portfolio investors. Areas with a high proportion of renters often benefit from government assistance programs, such as Section 8, which can stabilize the rental market and ensure steady income streams for landlords.
To summarize, ZIP 64835 stands out within the Joplin, MO HUD Metro FMR Area due to its above-average FMR of $910 and high renter share of 26.0%. These characteristics suggest it is a mid-tier neighborhood with potential advantages for those involved in subsidized housing programs.
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.