Location: Johnson County, 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 | $880 |
| 1 Bedroom | $950 |
| 2 Bedrooms | $1,080 |
| 3 Bedrooms | $1,410 |
| 4 Bedrooms | $1,690 |
| 5 Bedrooms | $1,960 |
| 6 Bedrooms | $2,195 |
| 7 Bedrooms | $2,371 |
| 8 Bedrooms | $2,490 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,080 | $160,051 | 0.67% | D |
| 3BR | $1,410 | $240,180 | 0.59% | F |
| 4BR | $1,690 | $286,801 | 0.59% | F |
U.S. Census Bureau data (2024)
Lafayette County's ZIP code 64037, Higginsville, MO, stands out with a population of 6,460 residents, where 21.6% live in rental properties. The median household income here is $91,843, indicating a relatively stable economic environment. The median home value in Higginsville is $223,939, which reflects a modest housing market compared to larger metropolitan areas.
The voucher economics in Higginsville present an interesting opportunity for landlords. The Fair Market Rent (FMR) for ZIP 64037 in fiscal year 2024 is set at $1,050, while the Census American Community Survey indicates a market rent of $960. This means that landlords participating in the Section 8 program can expect a slightly higher rent payment than the typical market rate, thus providing a financial incentive to accept vouchers.
Given the data signature of ZIP 64037, it reads as stable. The modest difference between the FMR and market rent suggests a balanced local economy where the cost of living is manageable and the government support through housing vouchers is beneficial but not excessively generous. This stability is further reinforced by the median income and home values, which are consistent and indicate a community that is neither experiencing rapid growth nor decline.
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.