Location: Kansas City, MO | Metro: Kansas City, MO-KS HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,320 |
| 1 Bedroom | $1,440 |
| 2 Bedrooms | $1,630 |
| 3 Bedrooms | $2,130 |
| 4 Bedrooms | $2,550 |
| 5 Bedrooms | $2,958 |
| 6 Bedrooms | $3,313 |
| 7 Bedrooms | $3,578 |
| 8 Bedrooms | $3,757 |
The Fair Market Rent (FMR) for ZIP code 64092 in fiscal year 2024 is set at $1460. This figure represents the maximum amount that a landlord can charge for rent under the Section 8 Housing Choice Voucher program. It's important to note that this is not the actual rent you will receive; rather, it's the benchmark used by the government to determine the rent subsidy for eligible tenants.
In ZIP 64092, the local median gross rent is listed as N/A, which makes direct comparison challenging. However, the FMR provides a useful guideline for setting competitive rental rates that align with government standards. The percentage of renters in the area is also noted as N/A%, indicating the proportion of residents who rely on renting their homes. This metric is crucial for understanding the potential demand for rental properties in your area.
The acquisition cost, or the price at which you might purchase a property suitable for Section 8 tenants, is listed as N/A. This information helps you gauge whether the investment aligns with the expected rental income. While the exact figures are not available, knowing the FMR can help you make informed decisions about the type of property to acquire and the potential returns.
Before proceeding with your first Section 8 rental property in ZIP 64092, verify that the property meets all local housing quality standards (HQS). These standards ensure that the property is safe, decent, and sanitary, and they are essential for approval under the Section 8 program. Failure to meet these criteria could result in delays or disqualification of your property.
To summarize, the FMR of $1460 sets the upper limit for rent charges in ZIP 64092. Despite the lack of specific local rent data, the FMR offers a reliable benchmark. Ensure your property meets HQS requirements to avoid complications and secure your place in the Section 8 market.
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.