Section 8 Fair Market Rent (FMR) for ZIP 64141 - 2027

FY 2027 Fair Market Rent Rates

The economics of Section 8 housing in ZIP code 64141, located in Kansas City County, Missouri, revolve around the SAFMR (Small Area Fair Market Rent) which is specifically tailored for this ZIP code. For a two-bedroom apartment in FY 2024, the SAFMR is set at $1190. This figure represents the maximum amount that a Section 8 voucher will cover for rent in this particular area.

While the local market rent is currently not available, it's important to understand how the voucher system works. The total rent is divided into two parts: the tenant's portion and the voucher's contribution. Typically, the tenant is required to pay 30% of their adjusted income towards rent, and the rest is subsidized by the government up to the SAFMR limit. In addition to the rent subsidy, there are utility allowances that can vary based on the household size and other factors.

To illustrate, let's assume a hypothetical tenant with an adjusted income of $1000 per month. Their portion of the rent would be $300 (30% of $1000), leaving $890 to be covered by the Section 8 voucher. However, if the total rent exceeds the SAFMR of $1190, the landlord will only receive the difference up to this limit. If the utilities are included in the rent, the utility allowance is considered part of the overall SAFMR calculation. If utilities are paid separately, the voucher might provide an additional allowance for these expenses.

In ZIP 64141, the SAFMR of $1190 applies strictly to this ZIP code, meaning that landlords here are subject to this rate for all Section 8 vouchers. Given the lack of specific local market rent data, we cannot calculate the exact reimbursement gap or surplus for landlords. However, if the market rent is higher than $1190, landlords will face a shortfall; conversely, if the market rent is lower, they may see a surplus when comparing their actual rental income to the SAFMR.

Landlords should carefully consider the SAFMR versus their own rental rates when deciding whether to participate in the Section 8 program. The SAFMR is designed to ensure that tenants can afford housing while also providing landlords with a stable source of income. Nonetheless, the economic realities of operating in ZIP 64141 will ultimately determine the profitability of accepting Section 8 vouchers.

Data Sources: FMR data from HUD (2027).

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.