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 Fair Market Rent (FMR) for ZIP code 64171 in Unknown, Missouri, for fiscal year 2024 is set at $1190. This figure represents the maximum amount that a landlord can charge for rent under the Section 8 program, known officially as the Housing Choice Voucher Program. It's important to note that this is not necessarily the amount you will receive as rent; it is the payment standard used by the housing authority to determine the subsidy level.
The FMR is determined by the U.S. Department of Housing and Urban Development (HUD) based on the average market rents in an area. In ZIP 64171, the local median gross rent is currently listed as N/A, which makes direct comparison difficult. However, the FMR serves as a benchmark to ensure that rents are reasonable and reflective of the local market conditions.
The demand for Section 8 rentals in this area is indicated by the N/A% of renters who rely on government assistance. This percentage shows the proportion of potential tenants who might be interested in your property if it becomes a Section 8 rental. While the exact number is not available, understanding the local renter share can help you gauge interest levels among low-income families seeking housing.
Regarding the acquisition cost, the average home price in ZIP 64171 is also listed as N/A. This suggests that the data on home values may be incomplete or unavailable, making it challenging to estimate the investment value of a property solely based on this metric. However, you should consider other factors such as maintenance costs, insurance, and property taxes when evaluating the overall cost of acquiring and managing a Section 8 rental.
Before committing to a Section 8 rental, one key verification step is essential: ensure that your property meets all the required standards for habitability and safety as defined by HUD. These standards include things like proper heating, plumbing, electrical systems, and structural integrity. Failure to meet these criteria could result in your property being rejected from the program, leaving you without the expected income.
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.