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 | $1,160 |
| 1 Bedroom | $1,260 |
| 2 Bedrooms | $1,430 |
| 3 Bedrooms | $1,870 |
| 4 Bedrooms | $2,240 |
| 5 Bedrooms | $2,598 |
| 6 Bedrooms | $2,910 |
| 7 Bedrooms | $3,143 |
| 8 Bedrooms | $3,300 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,430 | $177,256 | 0.81% | C |
| 3BR | $1,870 | $210,796 | 0.89% | C |
| 4BR | $2,240 | $272,720 | 0.82% | C |
| 5BR | $2,598 | $298,805 | 0.87% | C |
U.S. Census Bureau data (2024)
The ZIP code 64137 in Kansas City, MO, presents a dynamic rental market. The Fair Market Rent (FMR) for the area, set at $1,280 for fiscal year 2024, is significantly lower than the actual market rent, which stands at $1,572 according to ZORI (Zillow Observed Rental Index). This suggests that the market rent exceeds the benchmark FMR, indicating a scenario where demand may be outpacing supply.
The 0.2% price-cut share is a telling statistic, revealing that very few landlords are having to reduce their rental prices to attract tenants. This low percentage implies strong tenant interest and a competitive market environment where landlords can maintain or even increase their asking rents without significant concessions.
While the days on market (DOM) is listed as N/A, the median home value of $222,150 provides insight into the overall housing affordability and desirability of the area. A median home value that's relatively accessible can support a robust rental market, especially if potential buyers are waiting for better market conditions or prefer renting over buying.
The 49.9% renter share highlights a nearly equal split between homeowners and renters in ZIP 64137. This high percentage of renters suggests long-term housing pressure, as a large portion of the population relies on the rental market. It also indicates that there could be a continuous demand for rental properties, making it a stable investment for landlords and small-portfolio investors.
In summary, ZIP 64137 appears to be a market where demand for rental properties is robust, with limited need for price reductions and a substantial renter base. These factors contribute to a steady and potentially growing rental market, beneficial for those looking to invest in property management within this 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.