Location: Morgan County, MO | Metro: Miller County, MO
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 | $1,060 |
| 1 Bedroom | $1,240 |
| 2 Bedrooms | $1,440 |
| 3 Bedrooms | $1,890 |
| 4 Bedrooms | $1,920 |
| 5 Bedrooms | $2,227 |
| 6 Bedrooms | $2,494 |
| 7 Bedrooms | $2,694 |
| 8 Bedrooms | $2,829 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,890 | $365,972 | 0.52% | F |
U.S. Census Bureau data (2024)
The analysis of ZIP code 65072 reveals a market that leans towards steady cash flow rather than high-yield, low-stability. The primary indicator for this classification is the significant difference between the Fair Market Rent (FMR) and the median home value.
The FMR for the metro area in fiscal year 2026 is set at $1,330, while the market rent is slightly lower at $1,161. This suggests that rental properties in ZIP 65072 can expect to generate a relatively stable income stream, with rents reflecting a moderate premium over the average market rate. However, the median home value stands at $325,732, which is considerably higher than the FMR and indicates that the area is not conducive to flipping properties for quick profits.
Stability in the market is further supported by the rental composition and income levels. With 15.8% of the population being renters, there is a consistent demand for rental housing, although it is not a predominantly rental market. The average household income of $78,750 provides a strong financial base for tenants, reducing the risk of default and ensuring steady cash flow for landlords.
The lack of data on days on market (DOM) makes it challenging to assess the speed at which properties are rented out. However, given the income levels and the reasonable rental rates compared to home values, it is likely that the turnover is stable and predictable.
In conclusion, ZIP 65072 offers a balanced approach to real estate investment, favoring those seeking steady cash flow over speculative gains. Landlords and small-portfolio investors should find the rental income reliable, driven by a moderate rental market and a solid economic foundation.
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.