Location: Springfield, MO | Metro: Springfield, MO HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $790 |
| 1 Bedroom | $800 |
| 2 Bedrooms | $990 |
| 3 Bedrooms | $1,350 |
| 4 Bedrooms | $1,540 |
| 5 Bedrooms | $1,786 |
| 6 Bedrooms | $2,000 |
| 7 Bedrooms | $2,160 |
| 8 Bedrooms | $2,268 |
U.S. Census Bureau data (2024)
The HUD Fair Market Rent (FMR) for ZIP 65657 is set at $870 for fiscal year 2024. However, the market rent is currently unavailable. Given the HUD FMR, voucher tenants in this area will likely cashflow marginally, unless the market rent is significantly higher than the FMR.
The median home value in ZIP 65657 is $195,200. This allows for a rough calculation of the rent-to-price ratio, which is essential for understanding the local housing market dynamics. If we assume a typical rental yield of 5%, the implied market rent for a property valued at $195,200 would be approximately $813, suggesting that the HUD FMR is slightly above the implied market rent.
While specific data on median days on market (DOM) and price cut share is not readily available, the low population density and limited number of businesses indicate a relatively stable and slow-moving market. This stability could be beneficial for investors seeking consistent cash flow or long-term appreciation.
The strongest angle for investors in ZIP 65657 is likely cashflow, given the alignment between the HUD FMR and the implied market rent based on median home values. Stability is also a significant factor due to the area's characteristics.
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.