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 | $1,190 |
| 1 Bedroom | $1,300 |
| 2 Bedrooms | $1,470 |
| 3 Bedrooms | $1,920 |
| 4 Bedrooms | $2,300 |
| 5 Bedrooms | $2,668 |
| 6 Bedrooms | $2,988 |
| 7 Bedrooms | $3,227 |
| 8 Bedrooms | $3,388 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,470 | $227,298 | 0.65% | D |
| 3BR | $1,920 | $294,903 | 0.65% | D |
| 4BR | $2,300 | $407,781 | 0.56% | F |
| 5BR | $2,668 | $498,591 | 0.54% | F |
U.S. Census Bureau data (2024)
ZIP code 64063, located in Lees Summit, Missouri, is part of the larger Kansas City, MO-KS HUD Metro Fair Market Rent (FMR) Area. Its Fair Market Rent (FMR) for FY 2024 is set at $1,240. This figure represents the maximum amount that a low-income household can pay towards rent while still qualifying for certain housing assistance programs under Section 8.
In comparison to the typical ZIP codes within the Kansas City, MO-KS HUD Metro FMR Area, Lees Summit's FMR is notably lower than the market rent, which stands at $1,516. This indicates that the area offers a discount for subsidized renters, potentially making it a more attractive location for those seeking affordable housing options through Section 8. The median home value in Lees Summit is listed at $300,384, reflecting a middle-ground price point within the broader metro area.
The renter share in Lees Summit is 36.5%, which is a significant portion of the housing market but not necessarily indicative of being a premium sub-market. In fact, the combination of a relatively high renter share and below-average home values compared to the metro area suggests that Lees Summit could be considered a value pocket. This is because areas with a higher proportion of renters and lower home values often appeal to Section 8 participants who might find it easier to secure housing within their budget constraints.
To further contextualize, if the typical ZIP codes in the Kansas City, MO-KS HUD Metro FMR Area have higher FMRs and home values, then Lees Summit would stand out as an area where the cost of living is somewhat more manageable. Landlords and small-portfolio investors in Lees Summit should be aware of the potential demand from subsidized renters and plan accordingly to ensure compliance with Section 8 requirements while maximizing their investment returns.
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.