Location: Kansas City, 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 | $1,540 |
| 1 Bedroom | $1,670 |
| 2 Bedrooms | $1,890 |
| 3 Bedrooms | $2,470 |
| 4 Bedrooms | $2,960 |
| 5 Bedrooms | $3,434 |
| 6 Bedrooms | $3,846 |
| 7 Bedrooms | $4,154 |
| 8 Bedrooms | $4,362 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,670 | $157,900 | 1.06% | B |
| 2BR | $1,890 | $237,831 | 0.79% | D |
| 3BR | $2,470 | $344,106 | 0.72% | D |
| 4BR | $2,960 | $417,127 | 0.71% | D |
| 5BR | $3,434 | $482,477 | 0.71% | D |
U.S. Census Bureau data (2024)
The ZIP code 66212, located in Overland Park, KS, presents a dynamic rental market that is currently favoring landlords and small-portfolio investors. The Fair Market Rent (FMR) for the area is set at $1450 for fiscal year 2024, which is significantly lower than the actual market rent indicated by Zillow's ZORI index at $1,969. This disparity suggests that the market rent exceeds the government's fair market assessment, indicating strong demand among renters.
A key indicator of market health is the low price-cut share of 0.1%, which implies that properties are being rented at or near their listed prices without the need for discounts. Additionally, the days on market (DOM) figure stands at just 5 days, underscoring the rapid absorption of new listings into the rental market. These metrics together suggest that demand for rental properties is robust, and supply is being quickly met by this demand.
The median home value in ZIP 66212 is $358,868, reflecting a moderate residential real estate market. However, with a renter share of 43.3%, it becomes evident that a significant portion of the population prefers renting over owning. This high percentage of renters indicates sustained long-term housing pressure, as a substantial number of residents are likely to remain in the rental market due to financial constraints or lifestyle choices. For landlords, this means a steady stream of potential tenants who are willing to pay above the FMR to secure a place to live.
In conclusion, the rental market in ZIP 66212 is characterized by strong demand and quick property turnover, making it an attractive investment opportunity for those looking to capitalize on rental properties. The high renter share suggests that the market will continue to experience pressure from renters seeking affordable and desirable housing options, thus maintaining a favorable environment for landlords.
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.