Location: Morgan County, MO | Metro: Moniteau County, MO HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $750 |
| 1 Bedroom | $830 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,340 |
| 4 Bedrooms | $1,400 |
| 5 Bedrooms | $1,624 |
| 6 Bedrooms | $1,819 |
| 7 Bedrooms | $1,965 |
| 8 Bedrooms | $2,063 |
U.S. Census Bureau data (2024)
The real estate market in ZIP 65034 presents a unique set of challenges and opportunities for both landlords and small-portfolio investors. The median home value data is currently unavailable, which can make it difficult to gauge the overall health and trends of the housing market in this area. However, the fact that a significant percentage of listings have been reduced, along with an unknown median days on market (DOM), suggests a potential shift towards a buyer's market where pricing power may be diminished.
On the rental side, the Fair Market Rent (FMR) for ZIP 65034 in fiscal year 2024 is set at $820. This figure serves as a benchmark for the rental market, indicating the average monthly rent for a standard unit. If the local market rent is below this FMR, it signals a potentially undervalued rental market, which could be advantageous for investors looking to capitalize on low-cost properties. Conversely, if the market rent is above the FMR, it suggests strong demand and possibly higher returns on investment.
For long-term investors, the lack of specific data regarding appreciation rates makes it challenging to construct a solid thesis on future price increases. Typically, appreciation is driven by factors such as job growth, population increase, and infrastructure development. Without concrete numbers, it's impossible to determine whether ZIP 65034 will experience steady appreciation or remain relatively stagnant. Long-term investors should focus on other metrics such as rental yields and vacancy rates to assess the viability of holding properties in this area.
In summary, while the current data provides some insight into the market dynamics, the missing key figures, such as the median home value and precise DOM, limit the ability to fully understand the pricing power and potential for appreciation. Investors should proceed with caution, relying heavily on local market knowledge and additional research to make informed decisions. The rental market, with its FMR at $820, offers a clearer picture but still requires careful consideration of local conditions to determine if it aligns with broader investment goals.
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.