Location: Kansas City, MO | Metro: Kansas City, MO-KS HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,200 |
| 1 Bedroom | $1,310 |
| 2 Bedrooms | $1,480 |
| 3 Bedrooms | $1,930 |
| 4 Bedrooms | $2,320 |
| 5 Bedrooms | $2,691 |
| 6 Bedrooms | $3,014 |
| 7 Bedrooms | $3,255 |
| 8 Bedrooms | $3,418 |
The analysis of ZIP 64051 within the Kansas City, MO-KS HUD Metro Fair Market Rent (FMR) area reveals several key points that are crucial for landlords and small-portfolio investors.
Firstly, regarding the rent math, the fair market rent set at $1190 for fiscal year 2024 is the benchmark figure. However, due to the lack of specific market rent data for ZIP 64051, it's challenging to directly compare these figures. The absence of market rent data suggests a need for further investigation into local rental trends to ensure that the FMR aligns with what tenants can realistically afford and what landlords can expect to receive.
Secondly, on the topic of acquisition affordability, the data does not provide specific figures for the median home value, days on market (DOM), or the percentage of homes that have been listed with a price cut. Without these metrics, it's difficult to assess the overall cost of acquiring properties in this area. Landlords should seek out local real estate agents or utilize online property databases to obtain these missing details for a comprehensive understanding of the purchase landscape.
Thirdly, concerning tenant demand, the data also lacks specifics on the population size and the percentage of residents who are renters. These figures are essential for predicting the number of potential tenants and the competition among them for rental properties. Investors would benefit from consulting the latest census data or local real estate reports to fill these gaps and understand the demographic dynamics better.
In conclusion, while the fair market rent for ZIP 64051 is established at $1190, the incomplete data regarding market rents, median home values, days on market, price-cut shares, population size, and renter share percentages hinders a full assessment of investment viability. Landlords and investors must gather additional local information to make informed decisions about property acquisitions and rental pricing. The verdict remains pending until more precise data is available to confirm the financial feasibility and demand sustainability in this area.
Data Sources: FMR data from HUD (2027).
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.