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 | $970 |
| 1 Bedroom | $1,050 |
| 2 Bedrooms | $1,190 |
| 3 Bedrooms | $1,550 |
| 4 Bedrooms | $1,860 |
| 5 Bedrooms | $2,158 |
| 6 Bedrooms | $2,417 |
| 7 Bedrooms | $2,610 |
| 8 Bedrooms | $2,741 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,050 | $110,973 | 0.95% | C |
| 2BR | $1,190 | $147,051 | 0.81% | C |
| 3BR | $1,550 | $191,669 | 0.81% | C |
| 4BR | $1,860 | $228,106 | 0.82% | C |
| 5BR | $2,158 | $255,644 | 0.84% | C |
U.S. Census Bureau data (2024)
The ZIP code 64050 in Independence, Missouri, stands out due to its unique mix of demographics and housing characteristics. With a population of 21,079, it has a significant rental market, where 52.7% of residents rent their homes. The median income here is $48,834, which is notably lower than the national average, while the median home value sits at $173,837, indicating a relatively affordable housing market.
The economics of Section 8 vouchers in ZIP 64050 are favorable for landlords. The Fair Market Rent (FMR) for the area in fiscal year 2024 is set at $1,050, whereas the actual market rent, as measured by ZORI, is $1,200. This means that landlords can potentially receive higher rents from voucher holders compared to the FMR, making it an attractive option for those seeking stable tenants.
The data signature of ZIP 64050 reads as stable. Despite the lower median income, the high percentage of renters and the gap between FMR and market rent suggest a consistent demand for rental properties. Landlords can expect steady occupancy rates and reliable income streams from Section 8 tenants, who will cover a substantial portion of the market rent, thus reducing financial risk.
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.