Location: Johnson County, 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 | $1,010 |
| 1 Bedroom | $1,100 |
| 2 Bedrooms | $1,250 |
| 3 Bedrooms | $1,640 |
| 4 Bedrooms | $1,960 |
| 5 Bedrooms | $2,274 |
| 6 Bedrooms | $2,547 |
| 7 Bedrooms | $2,751 |
| 8 Bedrooms | $2,889 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,250 | $219,063 | 0.57% | F |
| 3BR | $1,640 | $286,604 | 0.57% | F |
| 4BR | $1,960 | $363,944 | 0.54% | F |
U.S. Census Bureau data (2024)
The ZIP code 64076, encompassing Odessa, MO, presents a market characterized by a delicate balance between supply and demand. The Fair Market Rent (FMR) for the area stands at $1050 for fiscal year 2024, closely matching the reported market rent of $1,045 according to the Census American Community Survey (ACS). This alignment suggests that the rental market is stable, with neither significant surplus nor shortage of rental properties.
The low price-cut share of 0.2% indicates that property owners are generally not compelled to reduce their asking prices, which is a positive sign for maintaining property values. However, the lack of data on days on market (DOM) makes it difficult to draw conclusions about how quickly properties are being sold once listed. Despite this gap, the median home value of $275,156 provides insight into the overall health and stability of the housing market in Odessa.
A key indicator of long-term housing pressure is the 18.9% renter share. This percentage implies a moderate presence of renters, suggesting that while there is some demand for rental units, it is not overwhelming. In markets with higher renter shares, there tends to be greater pressure on rental prices due to limited availability of affordable homeownership options. Conversely, a lower renter share might indicate a preference for homeownership, which can stabilize rental markets but also create challenges for those who cannot afford to buy.
In Odessa, the moderate renter share suggests that the local economy supports a mix of both renting and owning homes. Landlords and small-portfolio investors should be aware of this dynamic, as it influences the types of investments that might perform well. With rental rates and FMRs nearly identical, there is little room for significant rent increases without risking tenant turnover. Therefore, landlords must focus on maintaining competitive rents and ensuring their properties meet market standards to attract and retain tenants.
The snapshot of the market in ZIP 64076 reveals a steady state where neither supply nor demand is clearly dominant. Investors should monitor trends closely, especially the median home value and renter share, to understand the evolving dynamics of this market. By doing so, they can make informed decisions that align with the current conditions and avoid overestimating or underestimating the potential returns on their investments.
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.