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 | $1,390 |
| 1 Bedroom | $1,510 |
| 2 Bedrooms | $1,710 |
| 3 Bedrooms | $2,230 |
| 4 Bedrooms | $2,680 |
| 5 Bedrooms | $3,109 |
| 6 Bedrooms | $3,482 |
| 7 Bedrooms | $3,761 |
| 8 Bedrooms | $3,949 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,710 | $251,633 | 0.68% | D |
| 3BR | $2,230 | $323,385 | 0.69% | D |
| 4BR | $2,680 | $440,490 | 0.61% | D |
| 5BR | $3,109 | $532,759 | 0.58% | F |
U.S. Census Bureau data (2024)
The median income in ZIP 64151, located in Kansas City, MO, stands at $92,876. At first glance, this might suggest a relatively affluent area. However, the market rate for rent, measured by ZORI (Zillow Observed Rent Index), is $1,652 per month. This places a significant burden on renters, who make up 36.6% of the population of 28,526.
To put this into perspective, consider that the federal voucher payment standard for the fiscal year 2024 is set at $1370 for this ZIP code. This means that the average renter receiving a voucher would be able to afford housing at a rate below the market average, creating an affordability gap of $282 per month between the market rate and the voucher rate.
This gap has direct implications for landlords in terms of competition and strategy. With a substantial portion of the population renting, landlords must decide whether to cater to those with higher incomes who can pay market rates or to accept Section 8 vouchers, which offer a more stable but lower rental income. The choice impacts the type of tenants landlords attract and the overall demand for their properties.
The takeaway for landlords considering their rental strategies is clear: accepting vouchers can broaden your tenant pool but will also reduce monthly rental income. On the other hand, focusing on market-rate rents may limit your potential tenants to those who can afford higher rates, which could be fewer given the median income. Landlords should weigh these factors carefully, considering both the financial and demographic landscape of ZIP 64151.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.