Location: Morgan County, MO | Metro: Moniteau County, MO HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $790 |
| 1 Bedroom | $900 |
| 2 Bedrooms | $1,060 |
| 3 Bedrooms | $1,400 |
| 4 Bedrooms | $1,450 |
| 5 Bedrooms | $1,682 |
| 6 Bedrooms | $1,884 |
| 7 Bedrooms | $2,035 |
| 8 Bedrooms | $2,137 |
U.S. Census Bureau data (2024)
The ZIP code 65011 stands out within the county it resides in due to its unique demographic and economic characteristics. With a population of just 2,365 residents, where 26.3% are renters, it reflects a community that is predominantly owner-occupied. The median income here is $40,990, which is relatively modest compared to the median home value of $282,093. This suggests that homeownership in this area is not solely driven by high-income earners but rather by a mix of middle-class individuals who might find it challenging to keep up with housing costs.
Moving into the specifics of Section 8 voucher economics, the Federal Market Rent (FMR) for ZIP 65011 in fiscal year 2024 is set at $800. In contrast, the average market rent based on Census American Community Survey data is $470. This disparity highlights an opportunity for landlords and small-portfolio investors who can leverage the higher FMR rates to offset potential risks associated with tenant turnover or maintenance issues. The higher FMR rate ensures a more stable cash flow, especially when compared to the lower market rents.
When analyzing the overall data signature of ZIP 65011, it appears to be a stable environment. The relatively low percentage of renters indicates a strong trend towards homeownership, which typically correlates with a stable local economy. The median home value being significantly higher than the median income also points to a potentially stable real estate market, albeit one that might benefit from government assistance programs like Section 8 to help moderate-income families afford housing. Landlords should take advantage of the higher FMR rates to ensure profitability while providing affordable housing options to residents.
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.