Location: Kansas City, MO | Metro: Kansas City, MO-KS HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,310 |
| 1 Bedroom | $1,420 |
| 2 Bedrooms | $1,610 |
| 3 Bedrooms | $2,100 |
| 4 Bedrooms | $2,520 |
| 5 Bedrooms | $2,923 |
| 6 Bedrooms | $3,274 |
| 7 Bedrooms | $3,536 |
| 8 Bedrooms | $3,713 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 64134 in Kansas City, Missouri, for fiscal year 2024 is set at $1350. This figure represents the maximum amount that a landlord can charge for rent under the Section 8 program. It's important to note that this is not necessarily the actual rent you will receive; it is the benchmark used by the government to ensure housing costs are reasonable.
In comparison, the local Zillow Observed Rent Index (ZORI) for the same area stands at $1427. This indicates that the average market rent in your ZIP code is slightly higher than the FMR. However, as a Section 8 landlord, your rent will be capped at the FMR unless the property qualifies for an exception based on its unique characteristics or location.
The renter share in this area is 47.4%, which suggests that nearly half of the residents are renters. This high percentage points to a strong demand for rental properties, particularly those that cater to lower-income families who rely on Section 8 vouchers.
If you're looking to acquire a new property, the median home value in ZIP 64134 is around $171,295. This figure gives you an idea of the typical price range for homes in the area, helping you to assess whether the potential income from a Section 8 rental justifies the purchase price.
Before proceeding with your first Section 8 rental, it is crucial to verify that the property meets all the necessary requirements set by the Housing Authority. These requirements include ensuring the unit is safe, decent, and sanitary, with no lead-based paint hazards if built before 1978. This step is non-negotiable and ensures compliance with federal regulations.
Data Sources: FMR data from HUD (2027). 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.