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 | $1,500 |
| 1 Bedroom | $1,630 |
| 2 Bedrooms | $1,840 |
| 3 Bedrooms | $2,400 |
| 4 Bedrooms | $2,880 |
| 5 Bedrooms | $3,341 |
| 6 Bedrooms | $3,742 |
| 7 Bedrooms | $4,041 |
| 8 Bedrooms | $4,243 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,630 | $138,051 | 1.18% | B |
| 2BR | $1,840 | $228,771 | 0.8% | C |
| 3BR | $2,400 | $323,916 | 0.74% | D |
| 4BR | $2,880 | $418,658 | 0.69% | D |
| 5BR | $3,341 | $494,233 | 0.68% | D |
U.S. Census Bureau data (2024)
The ZIP code 64114 in Kansas City, MO, presents a dynamic rental market with strong indications of demand outpacing supply. The Fair Market Rent (FMR) for ZIP 64114 is set at $1,470 for fiscal year 2024, while the actual market rent, measured by Zillow's Observed Rental Index (ZORI), stands at $1,623. This discrepancy suggests that the rental market is robust, with landlords able to charge above the government-set fair market rate.
A key indicator of market health is the percentage of listings that have been price-cut, which currently sits at a mere 0.2%. This low figure implies that few properties are being reduced in price, indicating a steady demand for rental units. Additionally, the days on market (DOM) for rental properties is only 7 days, which is exceptionally low and points towards a swift absorption of available units once they hit the market. Landlords can expect their properties to be rented quickly in this environment.
The median home value in ZIP 64114 is $298,003. While this figure alone doesn't indicate whether the market is trending upwards or downwards, it provides a baseline for property values in the area. Coupled with the high market rent, it suggests that owning a rental property in this ZIP code can be a lucrative investment.
With a 32.4% share of renters, ZIP 64114 has a significant population of tenants, which is likely to exert long-term housing pressure. This high renter share indicates a consistent demand for rental properties, as a substantial portion of the residents prefer or require renting over purchasing homes. This trend supports the idea that rental investments in this area will continue to be sought after, making it an attractive market for landlords and small-portfolio investors.
In summary, the market in ZIP 64114 is characterized by strong demand for rentals, quick turnover of properties, and relatively high rents compared to the FMR. These factors point to a rental market where demand is outpacing supply, creating favorable conditions for those looking to invest in rental properties. The high renter share further reinforces the stability and potential profitability of the rental market in this area.
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.