Section 8 Fair Market Rent (FMR) for ZIP 64638 - 2027

Location: Livingston County, MO | Metro: Carroll County, MO

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$710
1 Bedroom	$740
2 Bedrooms	$960
3 Bedrooms	$1,210
4 Bedrooms	$1,580
5 Bedrooms	$1,833
6 Bedrooms	$2,053
7 Bedrooms	$2,217
8 Bedrooms	$2,328

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

470

Median Household Income

$63,654

Housing Units

194

Renter Percentage

32.7%

Occupancy Rate

83.5%

Renter Occupied

The ZIP code 64638, located in the Kansas City metropolitan area, is a region characterized by a mix of residential neighborhoods and urban development. This area offers potential opportunities for real estate investors interested in both rental properties and homeownership markets.

The Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $890, indicating the government's benchmark for affordable housing.
The market rent for the area, based on the latest Census American Community Survey (ACS) data, stands at $540, suggesting that the actual rental prices are below the FMR, which could be advantageous for landlords aiming to attract tenants.
The median home value in ZIP 64638 is $296,462, providing a clear indication of the typical investment cost for homeownership.
Renters make up 32.7% of the population, highlighting a significant portion of the market dedicated to rental properties.
The median income for residents is $63,654, offering insight into the financial capability of potential tenants and homeowners.

The combination of a lower-than-FMR market rent and a notable renter share suggests that the area has a robust demand for rental properties. The median home value indicates a moderate investment level for those interested in homeownership. With the median income being relatively stable, there is a good likelihood that tenants can afford higher rents, potentially allowing landlords to increase their rental rates closer to the FMR without losing tenants. For small-portfolio investors, focusing on rental properties could yield better returns compared to homeownership investments, given the current dynamics of the ZIP 64638 real estate market.

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.