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 | $1,100 |
| 1 Bedroom | $1,190 |
| 2 Bedrooms | $1,350 |
| 3 Bedrooms | $1,760 |
| 4 Bedrooms | $2,110 |
| 5 Bedrooms | $2,448 |
| 6 Bedrooms | $2,742 |
| 7 Bedrooms | $2,961 |
| 8 Bedrooms | $3,109 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,350 | $173,207 | 0.78% | D |
| 3BR | $1,760 | $231,879 | 0.76% | D |
U.S. Census Bureau data (2024)
ZIP code 64097, located in Wellington, MO, is characterized by a small-town charm with a population of just 1,014 residents. The area has a modest rental market, with 21.6% of the households being renters. The median household income stands at $74,750, indicating a comfortable living standard for most residents. The median home value in the region is $218,450, reflecting a stable housing market.
The economic landscape of Wellington, particularly concerning rental properties, is influenced by the Federal Market Rent (FMR) set at $1,050 for the fiscal year 2024. This figure contrasts with the actual market rent, which averages $1,085 according to recent Census ACS data. This slight discrepancy between the FMR and market rent suggests that landlords participating in the Section 8 program can expect a small margin above the voucher rate, though it is not substantial enough to significantly impact profitability.
Given these factors, ZIP 64097 may suit a hands-off voucher operator due to the stable income levels and manageable differences between FMR and market rents. However, for a hands-on value-add buyer looking to enhance property values through improvements, the modest median home value and rental market share indicate limited potential for significant returns on investment. The area's small population and low percentage of renters suggest a focus on maintaining quality rather than increasing occupancy rates. In conclusion, Wellington presents a conservative investment opportunity for those interested in the Section 8 program, favoring steady income over high-risk, high-reward strategies.
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.