Location: Miller County, MO | Metro: Moniteau County, MO HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $740 |
| 1 Bedroom | $830 |
| 2 Bedrooms | $990 |
| 3 Bedrooms | $1,330 |
| 4 Bedrooms | $1,470 |
| 5 Bedrooms | $1,705 |
| 6 Bedrooms | $1,910 |
| 7 Bedrooms | $2,063 |
| 8 Bedrooms | $2,166 |
U.S. Census Bureau data (2024)
The market in ZIP code 65064 is currently characterized by a modest Fair Market Rent (FMR) of $820 for the fiscal year 2024. This figure, while not indicative of historical trends, suggests a stable rental environment with limited fluctuations in pricing. The absence of recent market rent data implies that the local rental market might be less active or less frequently updated compared to more bustling areas.
The median home value stands at $266,439, which offers insight into the overall property values within the area. This relatively low median home value can be interpreted as an indication that the housing stock is primarily composed of more affordable properties, potentially appealing to first-time buyers and those seeking cost-effective living solutions.
A noteworthy statistic is the 0.7% renter share, which is exceptionally low. This suggests that the majority of residents in 65064 own their homes, indicating a strong preference for homeownership over renting. Such a low renter share can imply reduced long-term housing pressure since fewer people are competing for rental units. However, it also signals a potential challenge for landlords and small-portfolio investors looking to enter or expand in this market, as the pool of renters is significantly smaller.
The lack of percentage price-cut share and days on market (DOM) data makes it challenging to definitively state whether supply outpaces demand or vice versa. Nonetheless, the combination of a moderate FMR and a low median home value hints at a balanced market where neither supply nor demand overwhelmingly dominates. Landlords should be cautious when setting rental prices, ensuring they remain competitive yet reflective of the area's economic realities.
In summary, ZIP 65064 presents a unique market dynamic with a strong bias towards homeownership. For investors, this means a smaller but potentially more stable rental market. The median home value and FMR suggest a region where affordability is a key factor, making it attractive for certain segments of the population but limiting the broader appeal to renters.
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.