Section 8 Fair Market Rent (FMR) for ZIP 64155 - 2027

Location: Kansas City, MO | Metro: Kansas City, MO-KS HUD Metro FMR Area

Investment Score for ZIP 64155

Monthly Rent (2BR)

$1,700

Median Price (2BR)

$294,845

1% Rule

0.58%

Annual Yield

6.92%

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,380
1 Bedroom	$1,500
2 Bedrooms	$1,700
3 Bedrooms	$2,220
4 Bedrooms	$2,660
5 Bedrooms	$3,086
6 Bedrooms	$3,456
7 Bedrooms	$3,732
8 Bedrooms	$3,919

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
2BR	$1,700	$294,845	0.58%	F
3BR	$2,220	$312,123	0.71%	D
4BR	$2,660	$446,350	0.6%	F
5BR	$3,086	$572,491	0.54%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

28,824

Median Household Income

$97,471

Housing Units

11,559

Renter Percentage

28.5%

Occupancy Rate

96.5%

Renter Occupied

3,182

To determine if you should buy in ZIP 64155 (Kansas City, MO) for Section 8 investment, follow this decision tree:

Does FMR $1390 (zip FY 2024) clear debt service on a $348,781 property?
- If yes: The Fair Market Rent (FMR) of $1390 is sufficient to cover the debt service on a property valued at $348,781. This indicates that the rental income can support the mortgage payments.
- If no: The FMR of $1390 is not enough to clear the debt service on a property costing $348,781. You would need to reassess the property's value or find a property with lower debt service requirements.
Is market rent $1,595 (ZORI) above, at, or below FMR?
- If above: The Zillow Observed Rental Index (ZORI) of $1595 is higher than the FMR of $1390, indicating a favorable market condition where properties could be rented out at rates exceeding Section 8 limits.
- If at: The ZORI of $1595 matches the FMR of $1390, suggesting that the market rent aligns with the maximum allowable rent for Section 8 tenants.
- If below: The ZORI of $1595 is lower than the FMR of $1390, which is unlikely but would imply that market conditions are not supporting the FMR, potentially making Section 8 less attractive.
Are 28.5% renters + 18-day DOM enough demand?
- If yes: With 28.5% of the population being renters and an average Days on Market (DOM) of 18 days, there is strong demand for rental properties. This suggests that finding and retaining tenants should not be a significant issue.
- If no: The demand signals are weak. A lower percentage of renters or a longer DOM might indicate difficulty in filling vacancies or maintaining occupancy.
- If it depends: The demand factors are marginal. A closer look at vacancy rates and tenant turnover is necessary to understand the stability of the rental market.

The final decision will depend on how these factors align with your investment criteria. Ensure that the FMR covers your debt service, assess whether market rents are above or at FMR, and evaluate the strength of rental demand in the area. If all conditions favor a positive outcome, then investing in ZIP 64155 for Section 8 properties is advisable.

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.