Location: Kansas City, MO | Metro: Kansas City, MO-KS HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,200 |
| 1 Bedroom | $1,310 |
| 2 Bedrooms | $1,480 |
| 3 Bedrooms | $1,930 |
| 4 Bedrooms | $2,320 |
| 5 Bedrooms | $2,691 |
| 6 Bedrooms | $3,014 |
| 7 Bedrooms | $3,255 |
| 8 Bedrooms | $3,418 |
The ZIP code 64148 in Missouri presents a market in motion, characterized by specific dynamics that inform its current state. The Fair Market Rent (FMR) for the area is set at $1190 for fiscal year 2024, which serves as a benchmark for rental pricing in subsidized housing programs.
Despite the defined FMR, the actual market rent remains unspecified, indicating either a lack of available data or a market that is not yet fully developed. This absence of market rent data can be interpreted as a sign of potential instability or limited activity in the rental sector, which could mean that the market is either emerging or facing challenges in establishing a consistent rental pricing trend.
The percentage of price-cut share and the days on market (DOM) are also not provided, suggesting that there might not be enough transactional data to draw conclusions about the urgency of sales or the need for price reductions. However, this can be inferred as a relatively balanced market where neither buyers nor sellers are under significant pressure to close deals quickly or at discounted rates.
The median home value being unspecified further complicates the picture of the housing market in ZIP 64148. This could imply a variety of scenarios, including a diverse mix of property values or an insufficient sample size to determine a median. In any case, it points to a market where homeownership trends are unclear, making it difficult to assess the overall health and stability of the housing stock.
A key missing piece of information is the percentage of renters in the area. Without this figure, it's challenging to gauge the long-term housing pressures. Typically, a higher renter share indicates greater long-term housing demand, which can translate into sustained pressure on both rental and home prices. Conversely, a lower renter share might suggest a preference for homeownership, which can lead to different market dynamics, such as less frequent turnover and potentially lower rental demand.
In summary, ZIP 64148 appears to be a market with defined benchmarks but lacking in detailed market data. This suggests a dynamic environment where landlords and small-portfolio investors must stay alert to changes and be prepared to adapt their strategies based on emerging trends and data.
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.