Location: Kansas City, MO | Metro: Kansas City, MO-KS HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,230 |
| 1 Bedroom | $1,330 |
| 2 Bedrooms | $1,510 |
| 3 Bedrooms | $1,970 |
| 4 Bedrooms | $2,360 |
| 5 Bedrooms | $2,738 |
| 6 Bedrooms | $3,067 |
| 7 Bedrooms | $3,312 |
| 8 Bedrooms | $3,478 |
U.S. Census Bureau data (2024)
The ZIP code 64153 stands out due to its unique mix of rental and ownership dynamics. With a population of 6,653 residents, 45.5% of whom are renters, it presents a significant opportunity for those interested in the rental market. The median income in this area is $82,964, indicating a relatively affluent demographic. However, the median home value of $369,913 suggests that homeownership is still a substantial investment.
When it comes to voucher economics, the Fair Market Rent (FMR) for ZIP 64153 in fiscal year 2024 is set at $1,410, while the Zillow Rent Index (ZORI) shows a market rate of $1,534. This means that landlords accepting Section 8 vouchers can expect a slightly lower rent compared to the market average, but the difference is manageable at just over $120 per month. The FMR is designed to ensure affordability for tenants, making it a viable option for landlords who wish to cater to a broader range of potential renters.
The data signature for ZIP 64153 reads as stable. The relatively high median income supports a steady demand for both rental properties and homeownership. Additionally, the close alignment between the FMR and ZORI indicates a balanced market where Section 8 vouchers can be effectively utilized without significant financial impact on landlords. This stability is beneficial for small-portfolio investors looking for consistent returns and manageable risk.
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.