Location: Kansas City, MO | Metro: Kansas City, MO-KS HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,530 |
| 1 Bedroom | $1,660 |
| 2 Bedrooms | $1,880 |
| 3 Bedrooms | $2,450 |
| 4 Bedrooms | $2,940 |
| 5 Bedrooms | $3,410 |
| 6 Bedrooms | $3,819 |
| 7 Bedrooms | $4,125 |
| 8 Bedrooms | $4,331 |
U.S. Census Bureau data (2024)
100.0% of the residents in ZIP 66251 are renters, making it a prime location for landlords and small-portfolio investors focused on the rental market. In this area, the Fair Market Rent (FMR) for a two-bedroom apartment in fiscal year 2024 is set at $1430, which represents the maximum amount a Section 8 voucher holder can pay for housing. This figure is crucial for setting rental prices that align with government guidelines while ensuring profitability.
The high renter share indicates a robust demand for rental properties, but without specific data on market rents or median home values, it's challenging to gauge how competitive the local rental rates are compared to homeownership costs. However, the fact that 100.0% of households are renters suggests that the market is heavily tilted towards rentals, possibly due to lower median incomes or other economic factors.
While the exact median income is not provided, the absence of data on days on market (DOM) and the percentage of listings that have been price-cut suggests a stable rental market with little to no vacancy issues. Investors should be cautious about setting rents too high above the $1430 FMR, as this could lead to vacancies if potential tenants are limited by their voucher amounts.
To succeed in ZIP 66251, landlords must focus on maintaining properties that meet the quality standards required for Section 8 participation. Additionally, understanding the local economy and tenant needs will be key to attracting and retaining long-term, reliable renters.
Given the 100.0% renter share and the defined $1430 FMR, investing in Section 8 compatible properties in ZIP 66251 is advisable for those looking to capitalize on a strong rental market with guaranteed demand.
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.