Location: Lawrence County, MO | Metro: Joplin, MO HUD Metro FMR Area
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 | $790 |
| 1 Bedroom | $810 |
| 2 Bedrooms | $1,060 |
| 3 Bedrooms | $1,410 |
| 4 Bedrooms | $1,620 |
| 5 Bedrooms | $1,879 |
| 6 Bedrooms | $2,104 |
| 7 Bedrooms | $2,272 |
| 8 Bedrooms | $2,386 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,060 | $154,479 | 0.69% | D |
| 3BR | $1,410 | $246,316 | 0.57% | F |
| 4BR | $1,620 | $301,740 | 0.54% | F |
U.S. Census Bureau data (2024)
The ZIP code 65723, encompassing Pierce City, Missouri, presents a market characterized by a balance between rental and ownership dynamics, indicative of a stable yet evolving housing environment. The Fair Market Rent (FMR) for the area stands at $840 for fiscal year 2024, while the market rent, according to the Census American Community Survey (ACS), is slightly higher at $955. This suggests that the rental market is slightly above the government's fair market assessment, pointing towards a modest demand for rental properties.
The median home value in ZIP 65723 is $207,239, reflecting an affordable homeownership market that could attract both first-time buyers and investors looking for entry-level opportunities. The lack of data on price-cut share and days on market (DOM) indicates that there isn't significant volatility in the pricing or selling speed of homes, which could imply a steady state where neither supply nor demand is overwhelming the other.
A notable statistic is the 31.1% renter share in the population. This figure is substantial and suggests a significant portion of residents prefer or require renting over owning. In the long term, a high renter share can indicate persistent housing pressure as it often correlates with a lack of affordability for homeownership or a preference for the flexibility of renting. For landlords and small-portfolio investors, this means a consistent base of potential tenants, reducing the risk of vacancies.
In summary, ZIP 65723 is a market in motion, driven by a moderate demand for rental properties and a stable homeownership sector. The high renter share points to ongoing housing dynamics favoring rentals, making it a viable investment opportunity for those interested in the rental market segment.
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.