Section 8 Fair Market Rent (FMR) for ZIP 64060 - 2027

Location: Kansas City, MO | Metro: Kansas City, MO-KS HUD Metro FMR Area

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,250
1 Bedroom	$1,360
2 Bedrooms	$1,540
3 Bedrooms	$2,010
4 Bedrooms	$2,410
5 Bedrooms	$2,796
6 Bedrooms	$3,132
7 Bedrooms	$3,383
8 Bedrooms	$3,552

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

16,488

Median Household Income

$112,683

Housing Units

6,581

Renter Percentage

17.6%

Occupancy Rate

97.8%

Renter Occupied

1,135

Housing Authorities Serving ZIP 64060

Liberty Housing Authority (Liberty, MO) - 348 Section 8 vouchers
Excelsior Springs Housing Authority (Excelsior Springs, MO) - 170 Section 8 vouchers
Smithville Housing Authority (Smithville, MO)

To determine if a landlord should invest in ZIP 64060 (Kearney, MO) for Section 8 properties, follow these steps:

Step 1: Evaluate if the Fair Market Rent (FMR) of $1360 can cover the debt service on a $391,995 property.

If yes: The FMR is sufficient to clear the debt service. This means that the rental income from a Section 8 tenant will meet the mortgage payments and other costs associated with owning the property.
If no: Do not purchase in this area. The FMR is too low to support the debt service on a property of this value.

Step 2: Compare the market rent of $1,243 to the FMR of $1360.

If market rent is above FMR: It indicates that the market rent exceeds the FMR, which may lead to better returns for non-Section 8 tenants. However, for Section 8, the FMR cap applies.
If market rent is equal to or below FMR: There is no premium for renting out the property beyond what Section 8 will pay. This makes Section 8 a more viable option as it matches the local rental rates.

Step 3: Assess the rental demand in the area. With 17.6% of residents being renters and an average Days on Market (DOM) of 5 days, the following considerations apply:

If demand is high: The combination of a significant percentage of renters and a short DOM suggests strong rental demand. This is favorable for landlords, especially those considering Section 8 properties, as it indicates that units are likely to be occupied quickly.
If demand is low: The percentage of renters and DOM alone do not provide a complete picture. Additional factors such as vacancy rates and economic conditions must be considered. However, based on the given data, the demand appears to be sufficient.

In summary, if the FMR of $1360 clears the debt service on a $391,995 property and the market rent is either equal to or below the FMR, then ZIP 64060 presents a viable investment opportunity for Section 8 properties. The presence of 17.6% renters and a DOM of 5 days further supports this conclusion, indicating a robust demand for rental housing in the area.

Data Sources: FMR data from HUD (2027). 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.