Location: Kansas City, MO | Metro: Kansas City, MO-KS HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,150 |
| 1 Bedroom | $1,250 |
| 2 Bedrooms | $1,420 |
| 3 Bedrooms | $1,860 |
| 4 Bedrooms | $2,220 |
| 5 Bedrooms | $2,575 |
| 6 Bedrooms | $2,884 |
| 7 Bedrooms | $3,115 |
| 8 Bedrooms | $3,271 |
The market in ZIP 66117 (Unknown, MO) presents a unique snapshot that suggests an environment in flux. The Fair Market Rent (FMR) for the area stands at $1160 for zip FY 2024, indicating a stable rental pricing benchmark set by HUD for determining eligibility for housing assistance programs.
Absent data on market rent, days on market (DOM), and median home value, it's challenging to definitively state whether supply or demand is currently the driving force. However, the lack of available market rent data could imply either a nascent real estate market or one that is rapidly evolving, with insufficient historical records to establish trends.
The undefined percentage for price-cut share and DOM might suggest that listings in this area are typically sold or rented without significant negotiation, pointing towards a market where properties move quickly once listed. This could be indicative of strong demand relative to supply, though without specific numbers, this remains an inference based on the absence of contrary evidence.
The median home value being listed as N/A further supports the notion of a market in motion. It could indicate a wide variance in property values, or an area with limited sales activity, making it difficult to determine a reliable median. In either case, this points to a dynamic housing landscape where individual property characteristics significantly influence valuation.
With the renter share also unspecified, there is an opportunity to delve deeper into the long-term housing pressures this ZIP code faces. A high percentage of renters often correlates with increased housing pressure due to limited homeownership options. Conversely, a low renter share might signal a preference for homeownership, which can also lead to pressure if the supply of affordable homes is constrained.
In conclusion, while specific metrics are missing, the presence of an FMR and the absence of other key data points suggest a market characterized by rapid changes and possibly high demand. Landlords and small-portfolio investors should approach this ZIP code with caution, keeping a close eye on local real estate trends and the overall economic conditions that could impact the housing market's direction.
Data Sources: FMR data from HUD (2027).
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.