Location: Johnson County, MO | Metro: Kansas City, MO-KS HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,200 |
| 1 Bedroom | $1,300 |
| 2 Bedrooms | $1,480 |
| 3 Bedrooms | $1,950 |
| 4 Bedrooms | $2,330 |
| 5 Bedrooms | $2,703 |
| 6 Bedrooms | $3,027 |
| 7 Bedrooms | $3,269 |
| 8 Bedrooms | $3,432 |
U.S. Census Bureau data (2024)
Located in Jackson County, Missouri, ZIP code 64070, known as Lone Jack, stands out among its peers due to its unique demographic and economic profile. With a population of 3,479 residents, only 7.3% of whom rent their homes, Lone Jack is predominantly a homeownership community. The median income here is notably high at $130,364, reflecting a prosperous local economy. The median home value of $428,831 further underscores the affluence of the area, making it a desirable location for those seeking a comfortable living environment.
However, the dynamics of rental housing in Lone Jack present an interesting scenario for landlords and small-portfolio investors. The Fair Market Rent (FMR) for ZIP 64070, as determined by the Department of Housing and Urban Development (HUD), is set at $1,280 for the fiscal year 2024. This figure represents the maximum amount that a landlord can charge for a Section 8 voucher tenant. In contrast, the average market rent for the area, based on Census American Community Survey (ACS) data, is $1,180. This means that landlords who accept Section 8 vouchers could potentially earn up to $100 more per month compared to the market rate, providing a financial incentive to participate in the program.
The data signature for ZIP 64070 suggests a stable community. High median income and home values indicate a strong local economy where most residents own their homes. While the percentage of renters is low, the disparity between the FMR and market rent presents a lucrative opportunity for landlords willing to engage with Section 8 tenants. Given these factors, Lone Jack appears to be a secure investment for property owners looking to benefit from government assistance programs without the risks associated with transitional areas.
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.