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 | $1,460 |
| 1 Bedroom | $1,590 |
| 2 Bedrooms | $1,800 |
| 3 Bedrooms | $2,350 |
| 4 Bedrooms | $2,820 |
| 5 Bedrooms | $3,271 |
| 6 Bedrooms | $3,664 |
| 7 Bedrooms | $3,957 |
| 8 Bedrooms | $4,155 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,800 | $242,725 | 0.74% | D |
| 3BR | $2,350 | $339,882 | 0.69% | D |
| 4BR | $2,820 | $495,217 | 0.57% | F |
| 5BR | $3,271 | $631,457 | 0.52% | F |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP 64079, Platte City, Missouri, for fiscal year 2024 is set at $1430. This figure represents the maximum amount that a landlord can charge for rent under the Section 8 program, known officially as the Housing Choice Voucher Program. It is crucial to understand that this is the payment standard, meaning it is the ceiling for subsidized rent, not necessarily what you will receive as the actual rent.
To put this into perspective, the Zillow Observed Rent Index (ZORI) for the area stands at $1448. This indicates that the market rent is slightly higher than the FMR. However, the FMR is adjusted annually to reflect changes in the local housing market, ensuring that it remains relevant and competitive.
The demand for rental properties in this area is strong, with 30.8% of residents being renters. This high percentage suggests a robust market for rental units, including those participating in the Section 8 program. Landlords can expect a steady pool of potential tenants who qualify for assistance.
If you are considering acquiring a property for your first Section 8 rental in Platte City, keep in mind that the median home value is approximately $394,326. This figure represents the typical price you might pay for an existing home, which could be converted into a rental unit. When evaluating whether to purchase a property, ensure that the potential income from Section 8 vouchers covers your expenses, including mortgage payments, maintenance, and other costs associated with owning a rental property.
Before making a final decision, verify that the property meets all the necessary requirements for the Section 8 program. This includes passing a Housing Quality Standards (HQS) inspection, which ensures that the property is safe, decent, and sanitary. The inspection is a critical step, as failing to meet these standards could result in disqualification from the program, leaving you without the expected rental income.
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.