Location: Stone County, MO | Metro: Barry County, MO
| Unit Size | Monthly FMR |
|---|---|
| Studio | $770 |
| 1 Bedroom | $790 |
| 2 Bedrooms | $1,030 |
| 3 Bedrooms | $1,380 |
| 4 Bedrooms | $1,590 |
| 5 Bedrooms | $1,844 |
| 6 Bedrooms | $2,065 |
| 7 Bedrooms | $2,230 |
| 8 Bedrooms | $2,342 |
U.S. Census Bureau data (2024)
The ZIP code 65605, located in Aurora, MO within the Stone County metro area, can serve as a cash-flow anchor in a Section 8 portfolio strategy. This designation is based on the spread between the Fair Market Rent (FMR) set by HUD for the metro area in fiscal year 2026, which is $950, and the current market rent of $804. Given the median home value of $182,681, landlords can expect steady, government-backed rental income that exceeds the market rate.
This ZIP code is not likely to be an appreciation play due to its low price-cut share of 0.2% and the fact that the average days on market (DOM) is not provided, suggesting little fluctuation in the local real estate market. Instead, it offers a reliable income stream through Section 8 vouchers, making it a solid choice for investors seeking consistent cash flow.
Additionally, ZIP 65605 can act as a diversifier within a larger portfolio. With a renter share of 27.5%, there is a significant portion of the population relying on rental properties. The median income of $53,294 aligns well with the income limits for Section 8 participants, indicating a stable tenant pool. However, given the spread between FMR and market rent, the primary role of this ZIP code in a Section 8 portfolio should be as a cash-flow anchor.
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.