Location: Johnson County, MO | Metro: Kansas City, MO-KS HUD Metro FMR Area
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $900 |
| 1 Bedroom | $980 |
| 2 Bedrooms | $1,120 |
| 3 Bedrooms | $1,460 |
| 4 Bedrooms | $1,760 |
| 5 Bedrooms | $2,042 |
| 6 Bedrooms | $2,287 |
| 7 Bedrooms | $2,470 |
| 8 Bedrooms | $2,594 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,120 | $206,749 | 0.54% | F |
| 3BR | $1,460 | $307,131 | 0.48% | F |
| 4BR | $1,760 | $391,205 | 0.45% | F |
U.S. Census Bureau data (2024)
The significance of this gap for landlords and small-portfolio investors lies in the fact that voucher tenants under the Section 8 program bring a guaranteed income stream that is higher than what could be achieved through renting at market rates. The government pays the difference between the tenant's contribution, which is typically 30% of their income, and the FMR, ensuring that landlords receive a stable rental payment. Given that only 18.3% of residents in Garden City, MO, are renters, the competition for rental properties is relatively low, making it easier for landlords to attract voucher tenants.
In the context of Garden City, MO, with a median home value of $296,271 and a median income of $82,642, the cost of housing voucher tenants below open-market rates can be seen as a strategic advantage. Landlords can secure long-term tenancy without the risk of vacancies or fluctuating market rents. Moreover, the stability provided by the Section 8 program can offset potential maintenance costs or vacancy periods, offering a consistent return on investment.
However, it's important to note that accepting Section 8 tenants comes with certain responsibilities and regulations that must be adhered to. These include maintaining property standards and undergoing regular inspections. Despite these requirements, the financial benefits of receiving a higher-than-market rent can outweigh the administrative burdens, making it a viable option for maximizing yields in ZIP 64747.
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.