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 | $1,140 |
| 1 Bedroom | $1,240 |
| 2 Bedrooms | $1,400 |
| 3 Bedrooms | $1,830 |
| 4 Bedrooms | $2,190 |
| 5 Bedrooms | $2,540 |
| 6 Bedrooms | $2,845 |
| 7 Bedrooms | $3,073 |
| 8 Bedrooms | $3,227 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,240 | $106,971 | 1.16% | B |
| 2BR | $1,400 | $147,387 | 0.95% | C |
| 3BR | $1,830 | $190,163 | 0.96% | C |
| 4BR | $2,190 | $225,575 | 0.97% | C |
| 5BR | $2,540 | $274,524 | 0.93% | C |
U.S. Census Bureau data (2024)
The HUD Fair Market Rent (FMR) for ZIP code 64052 in Independence, Missouri, for fiscal year 2024 is set at $1,110. This figure represents the maximum amount that landlords can charge for a Section 8 voucher tenant. In comparison, the market rent, as measured by Zillow's ZORI index, stands at $1,098, slightly below the HUD FMR.
Voucher tenants in ZIP 64052 will typically cashflow at the FMR rate, given that it is higher than the average market rent. Landlords can expect positive cashflow when renting to Section 8 tenants without needing to rely on premium units. However, the difference between the HUD FMR and market rent is minimal, which means that landlords should carefully manage their expenses to ensure profitability.
The median home value in ZIP 64052 is $167,128. Using this figure, we can calculate the rent-to-price ratio. With an annual rent of approximately $13,176 (based on the ZORI index), the rent-to-price ratio is about 7.8%. This ratio suggests that rental income is relatively low compared to the value of homes in the area, indicating that the investment strategy should focus on cashflow rather than property appreciation.
The rental market in ZIP 64052 is moderately active, with a median Days on Market (DOM) of 24 days. This short DOM period indicates a healthy demand for rentals. Additionally, the price-cut share is only 0.2%, suggesting that landlords do not often need to reduce rents to attract tenants. These factors contribute to the stability of the rental market, making it predictable and less volatile for investors.
The strongest angle for Section 8 investors in ZIP 64052 is cashflow. Given the slight premium of the HUD FMR over the market rent, landlords can expect consistent positive cashflow from voucher tenants without significant risks associated with property management or market fluctuations.
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.