Location: Joplin, MO | Metro: Joplin, MO HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $850 |
| 1 Bedroom | $850 |
| 2 Bedrooms | $1,080 |
| 3 Bedrooms | $1,410 |
| 4 Bedrooms | $1,530 |
| 5 Bedrooms | $1,775 |
| 6 Bedrooms | $1,988 |
| 7 Bedrooms | $2,147 |
| 8 Bedrooms | $2,254 |
U.S. Census Bureau data (2024)
The classification of ZIP code 64841 on the axes of yield and stability reveals a unique investment scenario. On the yield axis, the Fair Market Rent (FMR) for the fiscal year 2024 is set at $850. This figure is notably lower than the market rent of $873, indicating that while properties in this area might offer slightly below-market returns, they still provide a reasonable rental income. The absence of home value data suggests that the primary focus should be on rental yields rather than potential appreciation.
Moving onto the stability axis, ZIP 64841 has a significant portion of its population renting, with 36.2% of residents being tenants. While this percentage is relatively high, it does not necessarily indicate instability; it reflects a demand for rental properties. The lack of data on days on market (DOM) means we cannot assess how quickly properties are rented out, which could impact vacancy rates and therefore stability. However, the median household income of $59,167 provides some assurance regarding the ability of residents to pay rent consistently, suggesting a moderate level of financial stability among the tenant base.
Based on these figures, ZIP 64841 does not fit neatly into either a high-yield/low-stability 'flip-style' market or a steady-cashflow zone. Instead, it represents an opportunity that falls somewhere in between. The FMR being below the market rent indicates a moderate yield, while the high percentage of renters and decent median income point towards a stable demand for rentals. Landlords and small-portfolio investors should consider the area as a moderately stable market with room for slight above-average yields through careful property management and pricing strategies.
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.