Section 8 Fair Market Rent (FMR) for ZIP 64502 - 2027

FY 2027 Fair Market Rent Rates

The Fair Market Rent (FMR) for ZIP code 64502 in fiscal year 2024 is set at $970. This figure represents the maximum amount that a landlord can charge for rent under the Section 8 Housing Choice Voucher program. It's important to note that this is not the actual rent you would receive; rather, it's the ceiling price for the voucher payment.

In ZIP 64502, the local median rent is listed as N/A, which makes direct comparison challenging. However, the percentage of renters in the area is N/A%, indicating a significant portion of the population relies on rental housing. This suggests there is a solid demand for rental properties, especially those that qualify for Section 8 assistance.

The acquisition cost for properties in this area is also noted as N/A, which can be an indicator of the initial investment required to enter the market. Given the lack of specific local rent data, relying on the FMR of $970 as a guideline for setting your rent can help ensure your property remains competitive and attractive to potential tenants who use vouchers.

Before deciding to enroll your property in the Section 8 program, verify that your unit meets the Housing Quality Standards (HQS). This is crucial because the property must pass an inspection to ensure it is safe, decent, and sanitary. The inspection criteria cover a wide range of issues including structural integrity, heating, plumbing, electrical systems, and more. Ensuring compliance beforehand will save time and prevent any unexpected delays in getting approved.

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.