Location: Dade County, MO | Metro: Polk County, MO HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $750 |
| 1 Bedroom | $780 |
| 2 Bedrooms | $960 |
| 3 Bedrooms | $1,300 |
| 4 Bedrooms | $1,550 |
| 5 Bedrooms | $1,798 |
| 6 Bedrooms | $2,014 |
| 7 Bedrooms | $2,175 |
| 8 Bedrooms | $2,284 |
U.S. Census Bureau data (2024)
The ZIP code 65601 stands out in its county with a unique blend of characteristics. With a population of 572 residents, it has a rental rate of 24.6%, indicating a smaller but significant segment of tenants. The median income in this area is $46,875, which is relatively modest compared to other regions. However, the median home value is notably high at $290,396, suggesting that homeownership is quite costly here.
Moving into the specifics of Section 8 voucher economics, the Fair Market Rent (FMR) for ZIP 65601 in fiscal year 2024 is set at $800. This figure is slightly higher than the current market rent, which is reported at $770 according to the Census Bureau's American Community Survey (ACS). Landlords can expect a small premium when accepting vouchers, making it a viable option for those seeking to fill units.
Given the data signature, ZIP 65601 appears to be in a transitional phase. While the median home value suggests a stable housing market, the slight increase in FMR over market rent indicates a growing demand for affordable housing options. This trend could lead to changes in the local rental landscape as more residents seek assistance through Section 8 vouchers. For landlords and small-portfolio investors, understanding these dynamics is crucial for making informed decisions about property management and investment strategies.
Investors should monitor the continued growth in voucher usage and its impact on the local rental market. Although the current difference between FMR and market rent is minor, it signals a shift towards greater reliance on government assistance for housing, which could affect vacancy rates and tenant demographics in the future.
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.