Location: Wright County, MO | Metro: Douglas County, MO
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $710 |
| 1 Bedroom | $740 |
| 2 Bedrooms | $960 |
| 3 Bedrooms | $1,310 |
| 4 Bedrooms | $1,440 |
| 5 Bedrooms | $1,670 |
| 6 Bedrooms | $1,870 |
| 7 Bedrooms | $2,020 |
| 8 Bedrooms | $2,121 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,310 | $208,110 | 0.63% | D |
U.S. Census Bureau data (2024)
The analysis of ZIP code 65704 in the Wright County, MO metro area reveals several key points for landlords and small-portfolio investors.
The rent math does not work favorably. The Fair Market Rent (FMR) for the area, set at $890 for fiscal year 2026, is significantly higher than the actual market rent reported by the Census ACS, which stands at $432. This discrepancy suggests that landlords might struggle to charge rents that meet the FMR without facing high vacancy rates.
Acquisition affordability is mixed. With a median home value of $201,562, the area offers a relatively low barrier to entry for property acquisition. However, the lack of data on days on market (DOM) and the percentage of homes needing price cuts indicates potential challenges in selling properties quickly or at full asking price once they are ready for resale. This uncertainty can impact the liquidity and profitability of investments.
Tenant demand is present but limited. The population of ZIP 65704 is 5,394, with a renter share of 21.3%. This means approximately 1,149 individuals are likely seeking rental housing. While there is a tenant base, it's relatively small, suggesting competition among landlords could be fierce and vacancies could be an issue if supply exceeds demand.
Verdict: Investing in ZIP 65704 presents a scenario where the acquisition cost is reasonable, but the mismatch between FMR and actual market rent, along with the limited tenant demand, poses significant challenges. Landlords should expect to face difficulties in achieving high rental yields and may need to focus on cost management and competitive pricing strategies to ensure occupancy and financial viability.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.