Section 8 Fair Market Rent (FMR) for ZIP 64127 - 2027

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

Investment Score for ZIP 64127

A+

Monthly Rent (2BR)

$1,190

Median Price (2BR)

$74,372

1% Rule

1.6%

Annual Yield

19.2%

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	$970
1 Bedroom	$1,050
2 Bedrooms	$1,190
3 Bedrooms	$1,550
4 Bedrooms	$1,860
5 Bedrooms	$2,158
6 Bedrooms	$2,417
7 Bedrooms	$2,610
8 Bedrooms	$2,741

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
1BR	$1,050	$60,227	1.74%	A+
2BR	$1,190	$74,372	1.6%	A+
3BR	$1,550	$102,978	1.51%	A+
4BR	$1,860	$125,085	1.49%	A
5BR	$2,158	$158,175	1.36%	A

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

17,668

Median Household Income

$33,111

Housing Units

8,813

Renter Percentage

54.5%

Occupancy Rate

84.4%

Renter Occupied

4,052

The ZIP code 64127 in Kansas City, MO, is a neighborhood characterized by a mix of residential areas and local businesses, offering both opportunities and challenges for real estate investors. Here is a detailed market analysis based on specific data points:

Fair Market Rent (FMR): The FMR for a two-bedroom apartment in ZIP 64127 for fiscal year 2024 is set at $1050, providing a benchmark for rental pricing.
Market Rent (ZORI): According to Zillow's data, the market rent for properties in this ZIP code is currently $1,172, slightly above the FMR, indicating a competitive rental market.
Median Home Value: The median home value in ZIP 64127 stands at $86,659, which is relatively low compared to other areas in Kansas City, making it accessible for first-time buyers and investors looking for affordable entry points.
Renter Share: With 54.5% of residents being renters, there is a strong demand for rental properties, suggesting that rental investments could be profitable.
Days on Market (DOM): Data regarding the average days on market for properties is not available, which could imply either a balanced market or a lack of recent sales activity.
Median Income: The median household income in this area is $33,111, which is below the national average, potentially affecting the ability of residents to afford higher rents or property values.

The combination of a competitive rental market with a median rent just above the FMR, along with a significant portion of residents being renters, suggests that rental properties can command reasonable rates in ZIP 64127. However, the lower median income might limit the potential for significant rent increases. For investors, focusing on rental properties that meet the needs of the local population while maintaining a balance between affordability and profitability would be key. Additionally, the low median home value presents opportunities for those interested in purchasing homes for renovation or long-term investment, though they should be cautious about overpricing given the income levels of the 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.