Location: Moniteau County, MO | Metro: Cooper County, MO HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $730 |
| 1 Bedroom | $740 |
| 2 Bedrooms | $960 |
| 3 Bedrooms | $1,330 |
| 4 Bedrooms | $1,510 |
| 5 Bedrooms | $1,752 |
| 6 Bedrooms | $1,962 |
| 7 Bedrooms | $2,119 |
| 8 Bedrooms | $2,225 |
U.S. Census Bureau data (2024)
The ZIP code 65046 encompasses a small, tight-knit community with a total population of 1,127 residents. Only 11.5% of these residents are renters, indicating a primarily owner-occupied area. The median household income stands at $76,458, suggesting a middle-class demographic. Despite the lack of specific data on median home values, the low rental percentage implies that homeownership is highly valued in this region.
From an investment standpoint, the Federal Market Rent (FMR) for Section 8 properties in ZIP 65046 is set at $800 for fiscal year 2024. This figure is notably higher than the average market rent of $558, as reported by the Census Bureau's American Community Survey (ACS). This discrepancy creates a favorable environment for landlords who can benefit from the additional subsidy provided by the government program.
Given the characteristics of ZIP 65046, it would be well-suited for both hands-off voucher operators and hands-on value-add buyers. For hands-off operators, the potential to receive a higher rent through the Section 8 program compared to the market rate offers a stable and predictable income stream. On the other hand, value-add buyers could leverage the existing demand for affordable housing by improving properties to command rents closer to the FMR while still benefiting from the lower market rent base.
In summary, ZIP 65046 presents an opportunity for Section 8 investors due to its modest size, middle-class income levels, and the significant gap between the FMR and actual market rents. Landlords can expect a reliable source of income, with the possibility of enhancing property value over time.
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.