Location: Kansas City, MO | Metro: Kansas City, MO-KS HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,240 |
| 1 Bedroom | $1,340 |
| 2 Bedrooms | $1,520 |
| 3 Bedrooms | $1,990 |
| 4 Bedrooms | $2,380 |
| 5 Bedrooms | $2,761 |
| 6 Bedrooms | $3,092 |
| 7 Bedrooms | $3,339 |
| 8 Bedrooms | $3,506 |
U.S. Census Bureau data (2024)
The ZIP code 64066 presents a significant opportunity for landlords interested in Section 8 tenants. With 40.0% of the population renting, it qualifies as a renter-heavy area. This percentage indicates a substantial demand for rental properties, particularly those that can accommodate government housing assistance programs such as Section 8.
The median household income in this ZIP is $82,083, which is relatively high compared to national averages. However, the market rent at $1,361 per month represents a considerable portion of the average income. Specifically, the typical rent consumes approximately 17.6% of the median household income when calculated monthly. This suggests that many potential tenants might struggle to afford market rates without assistance.
The Fair Market Rent (FMR) for ZIP 64066, set at $1240 for FY 2024, aligns closely with the actual market rent but offers a slight buffer. Landlords who set their rents at or slightly below the FMR will likely attract a steady stream of Section 8 tenants. Given the close alignment between the FMR and the market rent, landlords should prepare for a competitive environment for voucher holders.
In terms of tenant profiles, landlords in ZIP 64066 should anticipate working with individuals and families who rely on Section 8 vouchers to meet their housing needs. These tenants often have lower incomes relative to the median, necessitating the use of housing subsidies to afford living in the area. Expect tenants who are keen to find affordable housing options and willing to adhere to the guidelines and regulations associated with the Section 8 program.
To summarize, ZIP 64066 is a renter-heavy area with a strong demand for housing assistance. The median income is higher than the national average, but the cost of rent is a substantial portion of that income, making Section 8 vouchers highly sought after. Landlords should position themselves to accept vouchers and be prepared to work with tenants who are financially dependent on these subsidies.
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.