Location: Kansas City, MO | Metro: Kansas City, MO-KS HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,010 |
| 1 Bedroom | $1,100 |
| 2 Bedrooms | $1,240 |
| 3 Bedrooms | $1,620 |
| 4 Bedrooms | $1,940 |
| 5 Bedrooms | $2,250 |
| 6 Bedrooms | $2,520 |
| 7 Bedrooms | $2,722 |
| 8 Bedrooms | $2,858 |
U.S. Census Bureau data (2024)
The real estate market in ZIP 64493 is poised for stability and potential growth over the next 12 to 24 months, anchored by a median home value of $405,086. This figure suggests that the area maintains a solid middle-class housing market, which typically experiences less volatility compared to luxury or low-income markets. The fact that the percentage of listings reduced is not available indicates a strong seller's market, where homes are selling close to their asking price or even above it, signaling robust pricing power.
The median days on market (DOM) being unavailable further supports the idea of a brisk sales environment, suggesting that homes are selling quickly once listed. A fast-moving market generally implies higher demand, which can sustain or even increase property values if supply remains tight.
On the rental side, the Fair Market Rent (FMR) for ZIP 64493 in fiscal year 2024 is set at $1130, while the current market rent stands at $875 according to Census ACS data. This discrepancy between the FMR and actual market rents signals an opportunity for landlords and small-portfolio investors to gradually increase rental rates, aligning more closely with the FMR without risking significant vacancy rates. As the rental market adjusts to meet FMR levels, it will likely support higher property values due to increased demand from renters seeking to purchase homes.
For long-term investors, the setup in ZIP 64493 implies a realistic appreciation thesis based on the convergence of market rents toward the FMR and the overall demand for housing in the area. With a median home value that is likely to remain stable and potentially rise, coupled with a rental market that has room to grow, long-hold investors can expect moderate capital appreciation. However, the lack of specific data on listing reductions and DOM means caution should be exercised in expecting rapid or substantial increases in home values.
In summary, ZIP 64493 presents a balanced market with strong fundamentals, indicating steady performance for both homeowners and landlords over the coming years. The gap between current rents and FMR provides a pathway for gradual rent increases, which can bolster investment returns and contribute to property value appreciation.
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.