Location: Dade County, MO | Metro: Cedar County, MO
| Unit Size | Monthly FMR |
|---|---|
| Studio | $770 |
| 1 Bedroom | $810 |
| 2 Bedrooms | $1,000 |
| 3 Bedrooms | $1,350 |
| 4 Bedrooms | $1,600 |
| 5 Bedrooms | $1,856 |
| 6 Bedrooms | $2,079 |
| 7 Bedrooms | $2,245 |
| 8 Bedrooms | $2,357 |
U.S. Census Bureau data (2024)
The ZIP code 65635 presents a dynamic rental market that is currently underpinned by specific economic indicators. The Fair Market Rent (FMR) for the area is set at $920 for fiscal year 2026, according to the metro forecast. This figure represents the government's benchmark for what is considered a reasonable rent for a modest apartment, which is often used as a basis for determining eligibility for housing assistance programs such as Section 8.
In contrast, the actual market rent as reported by the Census American Community Survey (ACS) is $775. This suggests that the market rent is below the FMR, indicating that landlords in this area may have some flexibility in setting their rental rates. However, it also points to potential demand pressures if renters are finding the market rate more affordable than the benchmark, leading to higher occupancy rates and potentially less vacancy.
The median home value in ZIP 65635 stands at $254,328. While this provides insight into the overall property values, the absence of data on price-cut share and days on market (DOM) makes it challenging to determine whether the supply of rental properties is outpacing demand or vice versa. Typically, a lower price-cut share and fewer days on market would suggest a strong demand relative to supply, but without these figures, we can only speculate based on the other available data.
A critical piece of information is the 9.2% renter share. This percentage indicates the proportion of households in the area that rent rather than own their homes. A relatively low renter share could imply that there is less immediate pressure on rental properties compared to areas with a higher percentage of renters. However, it also suggests that there is room for growth in the rental sector if more residents decide to rent over owning due to various factors such as affordability or lifestyle preferences.
Given the gap between the FMR and the actual market rent, along with the median home value, it appears that the rental market in ZIP 65635 is balanced but with potential for increased demand as rental rates remain below the government's fair market standard. Landlords and small-portfolio investors should monitor local economic trends and tenant preferences closely to adapt to any shifts in the market dynamics.
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.