Section 8 Fair Market Rent (FMR) for ZIP 64761 - 2027

Location: Johnson County, MO | Metro: Henry County, MO

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$730
1 Bedroom	$790
2 Bedrooms	$960
3 Bedrooms	$1,330
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

1,598

Median Household Income

$73,750

Housing Units

704

Renter Percentage

19.4%

Occupancy Rate

87.1%

Renter Occupied

119

ZIP code 64761, located in the heart of the Midwest, offers a stable real estate market with opportunities for both landlords and small-portfolio investors. The area is characterized by a blend of suburban living and proximity to urban amenities, making it attractive for a variety of tenants.

The Fair Market Rent (FMR) for ZIP 64761 in the fiscal year 2026 is set at $890. This figure represents the median rent price for a standard two-bedroom apartment and is a key benchmark for rental properties in the area.
Market rent data from the Census American Community Survey (ACS) indicates that the average rent for a two-bedroom apartment is currently $850. This suggests that the area is slightly below the FMR, providing potential for modest appreciation over time.
The median home value in ZIP 64761 stands at $235,393. This is a reflection of the overall housing stock and can be used to gauge the potential resale value of investment properties.
Renters make up 19.4% of the population in this ZIP code. This relatively low percentage indicates that the majority of residents prefer homeownership, but there remains a significant rental market.
While the Days on Market (DOM) for rentals is not available, this metric would typically indicate how quickly properties are leased in the area. A lower DOM would suggest strong demand for rental units.
The median household income in ZIP 64761 is $73,750. This economic indicator supports the affordability of rents and suggests a stable tenant base capable of meeting their financial obligations.

In summary, ZIP 64761 presents a balanced real estate market with a fair amount of potential for rental investments. The current market rent is slightly below the FMR, indicating room for growth. With a median home value of $235,393 and a median income of $73,750, the area supports a stable economy and a reliable tenant pool. However, the low renter share of 19.4% suggests that competition for rental properties may exist, emphasizing the importance of maintaining quality and pricing strategies that align with the local market conditions. For investors, focusing on properties that offer good value and are well-maintained will likely yield positive returns given the steady demand and economic indicators.

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.