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 | $1,480 |
| 1 Bedroom | $1,610 |
| 2 Bedrooms | $1,820 |
| 3 Bedrooms | $2,380 |
| 4 Bedrooms | $2,850 |
| 5 Bedrooms | $3,306 |
| 6 Bedrooms | $3,703 |
| 7 Bedrooms | $3,999 |
| 8 Bedrooms | $4,199 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,820 | $232,456 | 0.78% | D |
| 3BR | $2,380 | $366,730 | 0.65% | D |
| 4BR | $2,850 | $508,344 | 0.56% | F |
| 5BR | $3,306 | $632,084 | 0.52% | F |
U.S. Census Bureau data (2024)
The ZIP code 64064, located in Lees Summit, Missouri, has a population of 20,050 residents. With only 16.7% of the population renting, it is evident that this area is dominated by homeowners rather than renters. This homeowner-heavy environment suggests that the demand for Section 8 vouchers is likely to be lower compared to areas with higher percentages of renters.
The median household income in this ZIP code is notably high at $117,674, indicating a relatively affluent community. In contrast, the market rent for the area stands at $1,710 per month, which represents approximately 14.5% of the median household income. This percentage is calculated by dividing the market rent by the annual median income ($1,710 / $117,674 * 12 months), suggesting that typical rents do not consume an excessive portion of local incomes.
When comparing the market rent to the Fair Market Rent (FMR) of $1,390 for fiscal year 2024, it's clear that the market rent exceeds the FMR by about $320. This discrepancy means that landlords in ZIP 64064 may find it challenging to attract tenants who rely solely on Section 8 vouchers, as these vouchers might not cover the full cost of market rent.
The tenant profile expected in this area would typically include individuals or families with moderate to high incomes, capable of contributing a significant portion towards their housing costs beyond what the Section 8 voucher provides. Landlords should prepare for potential co-payments from tenants, ensuring that the total rent aligns with both the market conditions and the financial capabilities of the average resident.
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.