Section 8 Fair Market Rent (FMR) for ZIP 64016 - 2027

Location: Kansas City, MO | Metro: Kansas City, MO-KS HUD Metro FMR Area

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,030
1 Bedroom	$1,120
2 Bedrooms	$1,270
3 Bedrooms	$1,660
4 Bedrooms	$1,990
5 Bedrooms	$2,308
6 Bedrooms	$2,585
7 Bedrooms	$2,792
8 Bedrooms	$2,932

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

4,603

Median Household Income

$98,323

Housing Units

1,839

Renter Percentage

17.4%

Occupancy Rate

94.3%

Renter Occupied

302

Housing Authorities Serving ZIP 64016

Housing Authority of Kansas City, Missouri (Kansas City, MO) - 8,733 Section 8 vouchers
Housing Authority of the City of Independence (Independence, MO) - 1,666 Section 8 vouchers
Lee's Summit Housing Authority (Lees Summit, MO) - 655 Section 8 vouchers

The Buckner, Missouri area, represented by ZIP code 64016, offers a unique blend of rural charm and economic stability. Nestled in the heart of the Midwest, this region provides a steady rental market and moderate property values, making it an attractive option for both landlords and small-portfolio investors looking to capitalize on consistent returns.

The Fair Market Rent (FMR) for a two-bedroom apartment in ZIP 64016 for fiscal year 2024 is set at $1090, indicating the government's benchmark for affordable housing in the area.
The average market rent for properties in this ZIP code, according to the Census Bureau's American Community Survey (ACS), stands at $970. This figure reflects the actual rental rates charged by private landlords in the area.
The median home value in ZIP 64016 is $252,146, which is relatively stable and suggests that homeownership remains a significant part of the local economy.
Renters make up 17.4% of the population, showing a smaller but still present rental market compared to other areas.
The median household income in the area is $98,323, providing a strong financial base for residents to afford housing costs.

The data points highlight a balanced market in Buckner, Missouri. With the FMR slightly above the market rent, there is potential for landlords to adjust their pricing without alienating tenants. The median home value indicates a modest investment cost, while the median income supports the ability of residents to meet housing expenses. However, the lower renter share suggests that the market may be more suited for those looking to invest in owner-occupied properties or who can offer competitive rental rates to attract the 17.4% of renters. Overall, Buckner presents a stable environment for real estate investments, particularly for those who can navigate the nuances between government benchmarks and actual market conditions.

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.