Section 8 Fair Market Rent (FMR) for ZIP 66102 - 2027

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

Investment Score for ZIP 66102

B
Monthly Rent (2BR)
$1,330
Median Price (2BR)
$132,359
1% Rule
1%
Annual Yield
12.06%

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$1,080
1 Bedroom$1,180
2 Bedrooms$1,330
3 Bedrooms$1,740
4 Bedrooms$2,080
5 Bedrooms$2,413
6 Bedrooms$2,703
7 Bedrooms$2,919
8 Bedrooms$3,065

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)

Bedrooms Monthly FMR Median Price 1% Rule Grade
1BR $1,180 $98,877 1.19% B
2BR $1,330 $132,359 1% B
3BR $1,740 $177,698 0.98% C
4BR $2,080 $201,439 1.03% B
5BR $2,413 $235,661 1.02% B

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population
29,443
Median Household Income
$52,861
Housing Units
11,464
Renter Percentage
43.2%
Occupancy Rate
87.6%
Renter Occupied
4,335

The economics of Section 8 housing in ZIP code 66102, located in Kansas City, KS, and Wyandotte County, are straightforward. For a two-bedroom apartment, the SAFMR (Small Area Fair Market Rent) is set at $1150 per month for fiscal year 2024. This figure is specific to this ZIP code, reflecting the local rental market conditions more accurately than a broader metro or county-level FMR would.

The local market rent, as indicated by ZORI (Zillow Observed Rent Index), is slightly higher at $1,216 per month. This suggests that landlords participating in the Section 8 program will receive less than the average market rent for a comparable unit.

A Section 8 voucher works by covering the difference between the tenant's contribution and the SAFMR. Typically, the tenant is responsible for paying 30% of their adjusted monthly income toward rent. If we assume an average household income eligible for Section 8 assistance, the tenant might contribute around $345 per month towards the rent of a two-bedroom unit.

The remaining amount is covered by the government. In this case, the reimbursement would be $805 per month ($1150 - $345). Additionally, there are utility allowances that vary based on the location and the type of dwelling. For a two-bedroom unit in ZIP 66102, the utility allowance might be approximately $350 per month.

This means that the total reimbursement a landlord can expect from a Section 8 voucher for a two-bedroom apartment in ZIP 66102 would be around $1155 per month ($805 + $350). However, since the local market rent is $1,216, there is a reimbursement gap of $61 per month for landlords renting at market rates.

To summarize, landlords in ZIP 66102 who accept Section 8 vouchers should expect to receive a total of $1155 per month for a two-bedroom apartment, which is $61 less than the average market rent. This gap represents the economic reality of participating in the Section 8 program in this specific area.

Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.