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 | $1,020 |
| 1 Bedroom | $1,100 |
| 2 Bedrooms | $1,250 |
| 3 Bedrooms | $1,630 |
| 4 Bedrooms | $1,960 |
| 5 Bedrooms | $2,274 |
| 6 Bedrooms | $2,547 |
| 7 Bedrooms | $2,751 |
| 8 Bedrooms | $2,889 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,100 | $63,352 | 1.74% | A+ |
| 2BR | $1,250 | $79,665 | 1.57% | A+ |
| 3BR | $1,630 | $101,522 | 1.61% | A+ |
| 4BR | $1,960 | $124,120 | 1.58% | A+ |
| 5BR | $2,274 | $148,304 | 1.53% | A+ |
U.S. Census Bureau data (2024)
The ZIP code 64128 in Kansas City, MO, stands out within Jackson County due to its unique demographic and economic characteristics. With a population of 11,912, it has a significant rental market, where 52.5% of residents are tenants. The median income in this area is $36,088, which is notably lower than the median home value of $95,088, indicating a substantial disparity between income levels and housing costs.
The economics of Section 8 vouchers in ZIP 64128 are particularly compelling for landlords and small-portfolio investors. The Fair Market Rent (FMR) for the fiscal year 2024 is set at $1,050, significantly below the market rent indicated by the Zillow Rent Index (ZORI), which is $1,226. This gap suggests that landlords can potentially attract tenants who qualify for the voucher program without having to lower their rental rates substantially. It also means that the government subsidy will cover a larger portion of the actual market rent, making it a favorable option for property owners.
Based on the data signature, ZIP 64128 appears to be in a transitional phase. The high percentage of renters and the relatively low median income indicate an evolving market where affordable housing options are crucial. However, the higher median home value suggests a growing demand for homeownership or investment properties. For those interested in leveraging Section 8 vouchers, the current economic environment offers an opportunity to balance between providing affordable housing and maintaining competitive rental rates.
In conclusion, ZIP 64128 presents a promising landscape for landlords and investors willing to engage with the Section 8 voucher program. The combination of a large rental market and a favorable subsidy-to-market-rent ratio can provide a stable income stream while addressing the need for affordable housing in the area.
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.