Location: Henry County, MO | Metro: Henry County, MO
| Unit Size | Monthly FMR |
|---|---|
| Studio | $670 |
| 1 Bedroom | $740 |
| 2 Bedrooms | $960 |
| 3 Bedrooms | $1,260 |
| 4 Bedrooms | $1,260 |
| 5 Bedrooms | $1,462 |
| 6 Bedrooms | $1,637 |
| 7 Bedrooms | $1,768 |
| 8 Bedrooms | $1,856 |
U.S. Census Bureau data (2024)
The real estate market in ZIP code 65323 presents a nuanced scenario for landlords and small-portfolio investors. With a median home value of $241,236, the area reflects a stable housing market, but the lack of percentage data on listings that have been reduced and the median days on market (DOM) indicate an incomplete picture. This absence of specific data points suggests either a highly competitive market where price adjustments happen rapidly, or a less active market where fewer properties are listed for sale.
The Forward Monthly Rent (FMR) for the metro area in fiscal year 2026 is projected at $890, while the current market rent stands at $532. This significant gap of approximately $358 between the FMR and the actual rental rates signals strong potential for rental income growth. Landlords can anticipate an increase in rental yields as the market adjusts towards the forecasted FMR. However, it's important to note that this growth will depend on factors such as local economic conditions, job market trends, and population changes.
For long-term investors, the setup implies a steady appreciation thesis. The median home value indicates a relatively affordable market, which could attract buyers looking for entry-level homes or those seeking to relocate to more cost-effective areas. As demand for both homeownership and rentals grows, property values are likely to rise, driven by the increasing disparity between the projected FMR and the current rental market rate. This dynamic supports a long-term investment strategy focused on capital appreciation and rental yield improvement.
Investors should also consider the broader implications of the housing and rental markets. A growing gap between the FMR and the market rent suggests a possible shortage of rental units, which could lead to increased competition among tenants and higher occupancy rates. This scenario benefits landlords who maintain quality properties, ensuring they remain attractive to potential renters.
In summary, the median home value and the projected FMR versus current rental rates in ZIP 65323 point to a market poised for growth, particularly in rental income. Long-term investors can expect their properties to appreciate in value, aligning with the upward trend in rental rates. However, the incomplete data on listing reductions and DOM highlights the need for ongoing monitoring of market conditions to make informed decisions.
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.