Location: Wright County, 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 ZIP code 65706, encompassing Marshfield, MO, and parts of Webster and Wright counties, presents a balanced opportunity for Section 8 investors. The HUD Fair Market Rent (FMR) for the area is set at $800 for the fiscal year 2024. In contrast, the Census American Community Survey (ACS) reports an average market rent of $732. This indicates that voucher tenants can cashflow at the FMR, providing landlords with a buffer of approximately $68 per unit above the market rate.
To further analyze the investment potential, consider the median home value in the area, which stands at $253,739. With the average market rent being $732, the rent-to-price ratio is calculated to be around 0.33%. This suggests that rental income represents a small portion of the property's total value, making it less attractive purely from a rental yield perspective but still viable given the steady demand for affordable housing.
The market dynamics also reveal insights into the buy-versus-rent scenario. The median Days on Market (DOM) for properties is 46 days, indicating a relatively quick turnover in sales. Additionally, only 0.2% of homes have seen price cuts, suggesting a stable real estate market with little pressure on sellers to reduce their asking prices. These factors point to a strong sense of stability in the local real estate market, which can be reassuring for investors.
In conclusion, while the primary appeal for Section 8 investors in ZIP 65706 is the positive cashflow potential, the stability of the real estate market offers a secondary benefit. Investors should focus on the cashflow advantage when evaluating opportunities in this region.
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.