Section 8 Fair Market Rent (FMR) for ZIP 64119 - 2027

Location: Kansas City, MO | Metro: Kansas City, MO-KS HUD Metro FMR Area

Investment Score for ZIP 64119

Monthly Rent (2BR)

$1,580

Median Price (2BR)

$197,797

1% Rule

0.8%

Annual Yield

9.59%

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,280
1 Bedroom	$1,400
2 Bedrooms	$1,580
3 Bedrooms	$2,060
4 Bedrooms	$2,470
5 Bedrooms	$2,865
6 Bedrooms	$3,209
7 Bedrooms	$3,466
8 Bedrooms	$3,639

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
2BR	$1,580	$197,797	0.8%	D
3BR	$2,060	$249,307	0.83%	C
4BR	$2,470	$372,502	0.66%	D
5BR	$2,865	$442,312	0.65%	D

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

33,199

Median Household Income

$83,929

Housing Units

13,799

Renter Percentage

25.3%

Occupancy Rate

97.5%

Renter Occupied

3,409

To determine if you should invest in ZIP 64119 (Kansas City, MO) for Section 8 properties, follow this decision tree based on the provided data.

1) Does FMR $1320 (zip FY 2024) clear debt service on a $257,350 property?

No: The Fair Market Rent (FMR) of $1320 does not cover the typical debt service costs for a property valued at $257,350. Debt service typically includes mortgage payments, property taxes, insurance, and maintenance costs. At this FMR, the income would likely be insufficient to meet these obligations, making it an unprofitable investment.

2) Is market rent $1,624 (ZORI) above, at, or below FMR?

Above: The Zillow Rent Index (ZORI) of $1,624 exceeds the FMR of $1320, indicating that market rents are higher than what is considered fair for Section 8 tenants. This suggests potential profitability for landlords outside of the Section 8 program, but not necessarily within it due to the lower FMR cap.

3) Are 25.3% renters + 23-day DOM enough demand?

Yes: With 25.3% of the population being renters and an average days on market (DOM) of 23 days, there appears to be sufficient rental demand. A lower DOM indicates quicker leasing times, which can help reduce vacancy rates and improve cash flow. However, this demand must be evaluated against the limitations posed by the FMR.

In summary, if your primary focus is on Section 8 properties, the answer is generally No. The FMR of $1320 does not provide enough income to clear debt service on a $257,350 property. Even though the market rent is higher, the demand alone cannot justify the investment when the income is capped by the FMR. For those considering the broader rental market, the answer is It Depends. While there is strong rental demand, the profitability and risk profile must be carefully assessed against your financial goals and tolerance for market fluctuations.

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.