Section 8 Fair Market Rent (FMR) for ZIP 64124 - 2027

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

Investment Score for ZIP 64124

Monthly Rent (2BR)

$1,200

Median Price (2BR)

$99,231

1% Rule

1.21%

Annual Yield

14.51%

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	$980
1 Bedroom	$1,060
2 Bedrooms	$1,200
3 Bedrooms	$1,570
4 Bedrooms	$1,880
5 Bedrooms	$2,181
6 Bedrooms	$2,443
7 Bedrooms	$2,638
8 Bedrooms	$2,770

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	$1,200	$99,231	1.21%	A
3BR	$1,570	$135,903	1.16%	B
4BR	$1,880	$172,079	1.09%	B
5BR	$2,181	$231,715	0.94%	C

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

10,925

Median Household Income

$46,241

Housing Units

4,867

Renter Percentage

52.6%

Occupancy Rate

85.0%

Renter Occupied

2,176

The ZIP code 64124 in Kansas City, MO, represents a neighborhood that is characterized by a mix of residential properties and a significant rental market presence. This area offers opportunities for landlords and small-portfolio investors looking to capitalize on affordable housing options and stable rental demand.

Fair Market Rent (FMR) for ZIP 64124 in fiscal year 2024 is set at $1050. This figure, established by HUD, provides a benchmark for rental pricing in the area, indicating that units priced around this amount are likely to be competitive.
The market rent, as measured by Zillow's ZORI (Zest Observed Rent Index), is $1,079. This slightly higher figure reflects the actual rental rates being charged in the market, suggesting that landlords can achieve rents marginally above the FMR if their properties are well-maintained and marketed effectively.
The median home value in the area is $119,757. This relatively low median home value points to a predominantly rental market, making it attractive for investors seeking to purchase properties at lower price points.
Renters make up 52.6% of the population in ZIP 64124. A significant portion of the residents are renters, which indicates strong demand for rental properties and supports the viability of rental investments in this neighborhood.
The median income of residents is $46,241. With the median income being slightly below the national average, it suggests that tenants in this area are likely to be sensitive to rental prices, making affordability a key factor in attracting and retaining tenants.

In summary, ZIP 64124 presents a balanced opportunity for real estate investors. The close alignment between HUD's FMR and ZORI indicates a stable rental market, while the high renter share and low median home value suggest robust demand for rental properties. Investors should focus on offering affordable yet quality rental units to maximize occupancy and returns. Additionally, understanding the local income levels will be crucial in setting competitive rental prices without overextending the financial capabilities of potential tenants.

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.