Location: Barry County, MO | Metro: Barry County, MO
| Unit Size | Monthly FMR |
|---|---|
| Studio | $740 |
| 1 Bedroom | $750 |
| 2 Bedrooms | $980 |
| 3 Bedrooms | $1,350 |
| 4 Bedrooms | $1,460 |
| 5 Bedrooms | $1,694 |
| 6 Bedrooms | $1,897 |
| 7 Bedrooms | $2,049 |
| 8 Bedrooms | $2,151 |
U.S. Census Bureau data (2024)
The ZIP code 65623 is located in a suburban area primarily within the city limits of Columbia, Missouri. This neighborhood is characterized by a moderate population size of approximately 28,000 residents, with a significant portion, 50.0%, renting their homes. The median household income here stands at $59,167, indicating a middle-class community.
When it comes to rental economics, the Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $910. However, specific market rent data for ZIP 65623 is currently unavailable, which makes direct comparison challenging. Given the lack of precise local market rent figures, the FMR can serve as a benchmark for understanding the general rental price range in the area.
Considering the demographic makeup and economic factors, ZIP 65623 is well-suited for both hands-off voucher operators and hands-on value-add buyers. For those looking to operate with minimal involvement, the high percentage of renters and the presence of Section 8 vouchers ensure a steady stream of tenants. On the other hand, for investors interested in actively managing properties to increase value, the middle-income bracket offers potential for improvements that could attract higher-paying tenants or sell at a premium. Both strategies have merit, depending on the investor's goals and level of engagement.
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.