Section 8 Fair Market Rent (FMR) for ZIP 64701 - 2027

Location: Kansas City, MO | Metro: Kansas City, MO-KS HUD Metro FMR Area

Investment Score for ZIP 64701

Monthly Rent (2BR)

$1,220

Median Price (2BR)

$214,587

1% Rule

0.57%

Annual Yield

6.82%

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$990
1 Bedroom	$1,080
2 Bedrooms	$1,220
3 Bedrooms	$1,590
4 Bedrooms	$1,910
5 Bedrooms	$2,216
6 Bedrooms	$2,482
7 Bedrooms	$2,681
8 Bedrooms	$2,815

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
2BR	$1,220	$214,587	0.57%	F
3BR	$1,590	$295,511	0.54%	F
4BR	$1,910	$386,878	0.49%	F
5BR	$2,216	$481,624	0.46%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

14,731

Median Household Income

$78,648

Housing Units

5,749

Renter Percentage

26.5%

Occupancy Rate

92.3%

Renter Occupied

1,408

The Harrisonville, MO area, represented by ZIP code 64701, presents a stable rental market with opportunities for both landlords and small-portfolio investors. The mix of affordable housing and a growing population supports steady demand for rental properties. This analysis will outline key metrics that inform investment decisions in the area.

Fair Market Rent (FMR) for ZIP 64701 in fiscal year 2024 is set at $1110. This figure represents the maximum amount HUD allows for payment toward rent in the area and indicates a reasonable upper limit for rental pricing.
The market rent for the area is currently $967, based on recent Census ACS data. This suggests that while there is room to increase rents, the current average is below the FMR, indicating potential for modest rent hikes without alienating tenants.
The median home value in Harrisonville, MO is $295,734. This value reflects the overall housing market and can influence property acquisition costs for investors looking to expand their portfolio.
Renters make up 26.5% of the housing market in ZIP 64701. This percentage shows a significant portion of the population relies on rentals, supporting ongoing demand for rental properties.
The days on market (DOM) for rental listings is 15 days. This quick turnover rate is indicative of a healthy rental market where properties are occupied promptly, reducing vacancy periods and increasing cash flow.
The median household income in the area is $78,648. This financial stability among residents supports the ability to pay higher rents, particularly close to the FMR, without significant risk of default.

Investors should note that while the median home value is relatively high, the current market rent is lower than the FMR, suggesting potential for growth in rental rates. The quick DOM indicates strong tenant demand, which is further supported by the substantial renter share of the market. With median incomes providing a solid foundation, landlords can expect steady occupancy and the ability to adjust rents upwards towards the FMR level. Overall, Harrisonville, MO offers a balanced and promising environment for real estate investments, especially in rental properties.

Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.