Location: McDonald County, MO | Metro: Joplin, MO HUD Metro FMR Area
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $840 |
| 1 Bedroom | $850 |
| 2 Bedrooms | $1,080 |
| 3 Bedrooms | $1,410 |
| 4 Bedrooms | $1,540 |
| 5 Bedrooms | $1,786 |
| 6 Bedrooms | $2,000 |
| 7 Bedrooms | $2,160 |
| 8 Bedrooms | $2,268 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,080 | $140,420 | 0.77% | D |
| 3BR | $1,410 | $225,521 | 0.63% | D |
| 4BR | $1,540 | $309,405 | 0.5% | F |
U.S. Census Bureau data (2024)
The classification of ZIP code 64865 in Seneca, Missouri, hinges on the balance between yield and stability. Yield is measured by the Fair Market Rent (FMR) set at $850 for fiscal year 2024, which stands above the market rate of $816. This indicates a higher potential rental income compared to typical market conditions, suggesting a positive yield environment.
However, stability is a different matter. With only 21.4% of residents being renters, the demand for rental properties is relatively low, which can affect the consistency of cash flow. The median household income of $60,846 provides insight into the economic strength of the area but does not directly correlate with rental stability without additional context such as days on market (DOM) for rental listings, which is unfortunately not available here. The median home value of $214,452 is also indicative of the overall economic health of the region but does not necessarily translate to rental market stability.
In summary, ZIP 64865 leans towards a high-yield/low-stability market. The higher FMR compared to the market rate supports the high-yield aspect, while the lower percentage of renters suggests less stability. Landlords and small-portfolio investors should weigh these factors carefully, considering that while there is potential for higher returns, there might also be challenges in maintaining consistent occupancy rates.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.