Section 8 Fair Market Rent (FMR) for ZIP 64625 - 2027
Location: Livingston County, MO | Metro: Kansas City, MO-KS HUD Metro FMR Area
FY 2027 Fair Market Rent Rates
| Unit Size |
Monthly FMR |
| Studio | $770 |
| 1 Bedroom | $830 |
| 2 Bedrooms | $960 |
| 3 Bedrooms | $1,250 |
| 4 Bedrooms | $1,510 |
| 5 Bedrooms | $1,752 |
| 6 Bedrooms | $1,962 |
| 7 Bedrooms | $2,119 |
| 8 Bedrooms | $2,225 |
Demographics & Housing Statistics
U.S. Census Bureau data (2024)
Median Household Income
$35,000
A landlord considering investing in ZIP code 64625 for Section 8 purposes must follow a structured decision-making process. Here’s how to evaluate the opportunity:
- Does FMR $1050 (ZIP FY 2024) clear debt service on a $201,260 property?
- Yes: The Fair Market Rent (FMR) of $1050 is sufficient to cover the debt service on a property valued at $201,260. This indicates that the rental income will likely meet the financial obligations associated with owning the property.
- No: If the FMR does not clear the debt service, then purchasing a property in this ZIP code for Section 8 would not be financially viable. The landlord would need to either look for properties with lower purchase prices or consider other ZIP codes where the FMR can cover the debt service.
- Is market rent $624 (Census ACS) above, at, or below FMR?
- Above FMR: If the market rent exceeds the FMR, landlords might find it challenging to attract Section 8 tenants due to the higher costs. However, they could still consider the investment if they aim to cater to non-Section 8 tenants who can afford the higher rents.
- At or Below FMR: With the market rent at $624, which is below the FMR, landlords are more likely to attract Section 8 tenants. This scenario suggests that the property is competitively priced for the subsidy program.
- Are 41.0% renters + N/A-day DOM enough demand?
- It Depends: The ZIP code has a 41.0% rental rate, indicating a moderate level of demand. However, the absence of data on days on the market (DOM) makes it difficult to assess the speed at which properties are rented out. Landlords should investigate further into the local real estate market trends and vacancy rates to determine if the demand is strong enough to support a Section 8 investment.
In summary, if the FMR of $1050 clears the debt service on a $201,260 property and the market rent is at or below the FMR, the landlord should proceed with caution, taking into account the rental rate and additional research on market dynamics. The decision hinges on whether these factors align favorably with the landlord's investment criteria and risk tolerance.
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.