Location: McDonald County, MO | Metro: McDonald County, MO
| Unit Size | Monthly FMR |
|---|---|
| Studio | $730 |
| 1 Bedroom | $740 |
| 2 Bedrooms | $960 |
| 3 Bedrooms | $1,330 |
| 4 Bedrooms | $1,610 |
| 5 Bedrooms | $1,868 |
| 6 Bedrooms | $2,092 |
| 7 Bedrooms | $2,259 |
| 8 Bedrooms | $2,372 |
U.S. Census Bureau data (2024)
59.6% of residents in ZIP code 64847 are renters, making it a prime location for landlords and small-portfolio investors. The area's rental market is robust, with a market rent of $705 based on Census ACS data. This figure is important when comparing it to the Fair Market Rent (FMR) of $890 for the metro area in fiscal year 2026, indicating a potential upward trend in rental prices. Landlords can leverage this gap to adjust their rents accordingly without alienating tenants.
$37,273 is the median income for ZIP 64847, which is a critical factor for determining the affordability of housing for residents. Given that the median home value is not available, it suggests that the housing market may be predominantly rental-based, further supporting the focus on rental properties for investment.
The lack of available data on days on market (DOM) and the percentage of price-cut shares indicates a stable housing market where properties are likely selling at or near asking prices without significant discounts. This stability can translate into steady cash flows for rental property owners, as there is little indication of fluctuating vacancy rates or rent prices.
In ZIP 64847, the high renter share combined with a favorable gap between market rent and FMR suggests a positive outlook for landlords. With a median income of $37,273, residents have the financial capacity to afford rents closer to the FMR, especially if they are already accustomed to paying market rents of $705. This scenario presents an opportunity for landlords to increase rents gradually while remaining competitive and affordable.
The Section 8 program, with its set payment standards, can provide a reliable source of income for landlords. However, given the specific context of ZIP 64847, landlords should consider setting rents slightly above the $890 FMR to maximize returns, while still ensuring affordability for tenants. The market conditions support this strategy, as the existing renter share and median income indicate a willingness and ability to pay higher rents.
Verdict: ZIP 64847 is a solid investment for Section 8 landlords, with opportunities to generate above-average returns by setting rents close to the FMR of $890.
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.