Location: Kansas City, MO | Metro: Kansas City, MO-KS HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,260 |
| 1 Bedroom | $1,370 |
| 2 Bedrooms | $1,550 |
| 3 Bedrooms | $2,030 |
| 4 Bedrooms | $2,430 |
| 5 Bedrooms | $2,819 |
| 6 Bedrooms | $3,157 |
| 7 Bedrooms | $3,410 |
| 8 Bedrooms | $3,581 |
The HUD Fair Market Rent (FMR) for ZIP code 64073 in the Kansas City, MO-KS HUD Metro FMR Area for fiscal year 2024 is set at $1260. This figure represents the maximum amount that landlords can charge for accepting Section 8 vouchers in the area. However, due to the lack of specific market rent data for this region, it's challenging to make an exact comparison. Nonetheless, we can infer that voucher tenants will likely cashflow at the FMR rate, given that the FMR is designed to reflect the average rent for a modest apartment in the area.
The median home value in ZIP 64073 is not available, which means deriving a precise rent-to-price ratio is impossible. However, this absence of data could suggest that the area might be more focused on rental properties rather than homeownership, making it potentially attractive for investors looking to capitalize on the demand for rental housing.
The days on market (DOM) and the percentage of listings that require a price cut are also not specified. These metrics are crucial for understanding the local real estate market dynamics, particularly how quickly properties are rented out and if there's a need to adjust rental prices to attract tenants. Without this information, we can't fully assess the rent-versus-buy dynamics in the area.
Given the available data, the strongest angle for investors in ZIP 64073 appears to be cashflow. The FMR provides a reliable benchmark for rental income, ensuring that landlords who accept Section 8 vouchers can maintain positive cashflow without the need to seek premium units. This makes the area particularly suitable for those seeking steady, predictable income from their investments.
Data Sources: FMR data from HUD (2027).
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.