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 | $1,580 |
| 2 Bedrooms | $1,790 |
| 3 Bedrooms | $2,340 |
| 4 Bedrooms | $2,800 |
| 5 Bedrooms | $3,248 |
| 6 Bedrooms | $3,638 |
| 7 Bedrooms | $3,929 |
| 8 Bedrooms | $4,125 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,790 | $338,354 | 0.53% | F |
| 3BR | $2,340 | $526,370 | 0.44% | F |
| 4BR | $2,800 | $750,147 | 0.37% | F |
| 5BR | $3,248 | $1,264,412 | 0.26% | F |
U.S. Census Bureau data (2024)
The ZIP code 64113 is located in an upscale residential area of Kansas City, Missouri. With a total population of 12,386, only 6.0% of residents are renters, indicating a predominantly owner-occupied neighborhood. The median household income here is notably high at $179,964, reflecting the affluent nature of the community. Median home values in this area stand at $578,526, which further underscores the premium status of the housing market.
In terms of rental economics, the Fair Market Rent (FMR) for ZIP 64113 as of fiscal year 2024 is set at $1,580. This figure represents the benchmark used by the Housing Choice Voucher program, commonly known as Section 8. In contrast, the market rent, measured by Zillow's ZORI index, is significantly higher at $2,748. This substantial gap between the FMR and the actual market rent suggests a challenging environment for landlords who rely solely on Section 8 vouchers, as they may struggle to cover operational costs and maintenance expenses.
The characteristics of ZIP 64113 make it less suitable for hands-off voucher operators due to the high operational costs associated with maintaining properties in such a premium market. However, for hands-on value-add buyers who are willing to invest in property improvements and management, there could be opportunities to create a niche market that attracts both voucher recipients and higher-paying tenants. Such an approach would require careful consideration of the local demand and a strategic plan to balance the financial risks and rewards inherent in this type of investment.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.