Section 8 Fair Market Rent (FMR) for ZIP 64020 - 2027

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

Investment Score for ZIP 64020

Monthly Rent (2BR)

$1,040

Median Price (2BR)

$173,517

1% Rule

0.6%

Annual Yield

7.19%

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$840
1 Bedroom	$910
2 Bedrooms	$1,040
3 Bedrooms	$1,350
4 Bedrooms	$1,620
5 Bedrooms	$1,879
6 Bedrooms	$2,104
7 Bedrooms	$2,272
8 Bedrooms	$2,386

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
2BR	$1,040	$173,517	0.6%	F
3BR	$1,350	$239,106	0.56%	F
4BR	$1,620	$264,009	0.61%	D

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

2,953

Median Household Income

$59,269

Housing Units

1,467

Renter Percentage

34.8%

Occupancy Rate

84.9%

Renter Occupied

434

A landlord considering ZIP 64020 in Missouri for a Section 8 investment must follow a structured decision-making process. The first step is to evaluate whether the Fair Market Rent (FMR) of $1050 for the fiscal year 2024 can cover the debt service on a property valued at $233,069.

If the answer is yes: The FMR clearly exceeds the debt service, indicating that the property would be financially viable under Section 8. Next, compare the FMR to the market rent of $823 as reported by the Census ACS.

If market rent is below FMR: This suggests that there is potential upside for landlords who can secure Section 8 tenants, as they would pay more than the average market rent. Proceed to assess the rental demand in the area.

If market rent is at or above FMR: This indicates that the local rental market is strong and competitive. Landlords should still consider the percentage of renters and days on market (DOM).

If the answer is no: The FMR does not sufficiently cover the debt service, making this a poor investment choice for Section 8 properties. There is no need to proceed further with analysis.

Rental demand analysis: In ZIP 64020, 34.8% of residents are renters. The days on market (DOM) figure is listed as N/A, which could mean it's either not available or not a significant concern given the high percentage of renters. Given these conditions:

If you have confirmed sufficient demand: The high percentage of renters supports a positive outlook for rental occupancy rates, suggesting that demand is likely strong enough to support a Section 8 property. Therefore, the answer is yes, you should consider buying in this ZIP code for Section 8 purposes.
If demand is questionable: With insufficient data on DOM and unclear demand signals, the decision becomes less straightforward. It depends on additional factors such as the local economy, employment rates, and competition from other rental properties. Further investigation into these areas is recommended before making an investment decision.

In conclusion, for ZIP 64020, if the FMR of $1050 clears the debt service on a $233,069 property and market rent is below FMR, then the answer is yes, you should buy here for Section 8. However, if market rent is at or above FMR, and demand is uncertain due to lack of DOM data, the decision hinges on broader economic and market conditions, necessitating a more detailed analysis.

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.