Location: Kansas City, MO | Metro: Kansas City, MO-KS 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 | $990 |
| 1 Bedroom | $1,080 |
| 2 Bedrooms | $1,220 |
| 3 Bedrooms | $1,590 |
| 4 Bedrooms | $1,910 |
| 5 Bedrooms | $2,216 |
| 6 Bedrooms | $2,482 |
| 7 Bedrooms | $2,681 |
| 8 Bedrooms | $2,815 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,590 | $224,056 | 0.71% | D |
U.S. Census Bureau data (2024)
The median income in ZIP code 64021 stands at $97,188, indicating a relatively affluent area. However, when it comes to housing costs, the reality shifts. The market rate for rent is $1,089, which is a significant portion of the average household's budget. This figure closely aligns with the Fair Market Rent (FMR) standard set for voucher payments, which is $1,050 for the fiscal year 2024.
With only 19.6% of the 573 residents being renters, the competition among landlords is moderate. The affordability gap between the median income and the market rate rent suggests that while households can afford the rent, they might prefer the security and predictability of Housing Choice Vouchers (Section 8 vouchers).
The close proximity of the market rate ($1,089) and the FMR standard ($1,050) means that landlords can expect little difference in rental income whether they choose to accept voucher tenants or rely on cash-paying renters. However, the decision should be based on factors beyond just the dollar amount.
Voucher tenants often benefit from case management services, which can help ensure timely rent payments and adherence to lease terms. On the other hand, cash-paying renters might offer more flexibility in terms of lease conditions and potentially higher rents if the market allows. Given the modest population size and percentage of renters, landlords should consider the long-term stability and maintenance of their properties when deciding on their tenant mix strategy.
Takeaway: For landlords in ZIP 64021, accepting Section 8 vouchers is financially comparable to renting to cash-paying tenants. The choice should balance the benefits of guaranteed income and support from voucher programs against the potential for slightly higher market rates from private renters.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.