64188

ZIPSAFMR

Clay County, MO

ZIP Investment Score

095130300

BR	FMR	Eff. Rent	3Y CAGR
0 BR	$1,260	$1,250	8.4%
1 BR	$1,370	$1,170	7.6%
2 BR	$1,550	$1,230	7.1%
3 BR	$2,030	$1,900	7.2%
4 BR	$2,430	$2,200	8.0%
5 BR	$2,795	Not available	8.0%
6 BR	$3,214	Not available	8.0%
7 BR	$3,696	Not available	8.0%
8 BR	$4,250	Not available	8.0%

Purchase Price Calculator

Maximum purchase price

$120,861

Cost breakdown

+Likely effective rent$1,230

HUD FMR$1,550

Market rentUsed$1,230

Est. payment standard (90%)$1,400

-Principal and interest-$611

Loan amount$96,689

Down payment$24,172

Rate6.50%

Term30 years

-Operating costs-$419

Property taxes-$121

Insurance-$175

Utilities$0

HOA$0

Management-$123

=Target cash flow+$200

Calculation mode

BedroomsCash-flow target

Down payment methodDown payment %

HOA / mo

Utilities methodUtilities amount

Management methodManagement % of rent

Hold period projections

Annual appreciation rate

3-year hold

+$19,957(82.6% ROI)

Projected value

$130,154

Return breakdown

Property appreciation+$9,293

Loan principal paid down+$3,464

Rental cash flow+$7,200

5-year hold

+$34,060(140.9% ROI)

Projected value

$136,743

Return breakdown

Property appreciation+$15,882

Loan principal paid down+$6,177

Rental cash flow+$12,000

10-year hold

+$72,571(300.2% ROI)

Projected value

$154,712

Return breakdown

Property appreciation+$33,851

Loan principal paid down+$14,720

Rental cash flow+$24,000

Public Housing Authority

Rolodex

Market Alignment

Studio

1.01ratio

FMR$1,260

Market$1,250

vs market+$10

FMR is near market; voucher and private rents are aligned.

1.01

1 BR

1.17ratio

FMR$1,370

Market$1,170

vs market+$200

FMR is above market; underwrite to market rent.

1.17

2 BR

1.26ratio

FMR$1,550

Market$1,230

vs market+$320

FMR is above market; underwrite to market rent.

1.26

3 BR

1.07ratio

FMR$2,030

Market$1,900

vs market+$130

FMR is near market; voucher and private rents are aligned.

1.07

4 BR

1.10ratio

FMR$2,430

Market$2,200

vs market+$230

FMR is above market; underwrite to market rent.

1.10

0.700.800.901.001.101.201.30aligned range

Historical

FY 2023-2027

FMR: FY2027
Market rent: last ~365 days
Property value: --
Tax rate: --
Mortgage rate: --

ZIP 64188 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 64188 (Kansas City, MO) is $1,550 a month. That is up 14.0% from $1,360 in FY 2026. Kansas City is in the Kansas City, MO-KS HUD Metro FMR Area, where HUD requires housing authorities to set voucher payment standards by ZIP code using Small Area FMRs. Among 29 ZIP codes in Clay County, 64188 is tied for the 14th-highest two-bedroom rent (county range $1,150–$2,320). The median county two-bedroom FMR in Missouri is $962, so ZIP 64188 is 61% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 64188
Bedrooms	FY 2026	FY 2027	Change	90–110% range
Studio	$1,100	$1,260	+14.5%	$1,134–$1,386
1BR	$1,200	$1,370	+14.2%	$1,233–$1,507
2BR	$1,360	$1,550	+14.0%	$1,395–$1,705
3BR	$1,770	$2,030	+14.7%	$1,827–$2,233
4BR	$2,110	$2,430	+15.2%	$2,187–$2,673

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 64188
Fiscal year	Studio	1BR	2BR	3BR	4BR
FY 2027	$1,260	$1,370	$1,550	$2,030	$2,430
FY 2026	$1,100	$1,200	$1,360	$1,770	$2,110
FY 2025	$1,070	$1,180	$1,340	$1,750	$2,070
FY 2024	$990	$1,100	$1,260	$1,650	$1,930
FY 2023	$880	$1,000	$1,160	$1,520	$1,770

Two-bedroom rent in nearby Clay County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code	2 bedroom	vs. 64188
64150	$1,150	−25.8%
64151	$1,710	+10.3%
64154	$1,760	+13.5%
64155	$1,700	+9.7%
64156	$1,880	+21.3%
64157	$2,320	+49.7%
64158	$1,880	+21.3%
64161	$1,760	+13.5%
64165	$1,680	+8.4%
64166	$1,710	+10.3%
64167	$1,810	+16.8%
64188Current	$1,550	—

Questions about ZIP 64188 rents

How much will Section 8 pay for a two-bedroom in ZIP 64188?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,550, that basic range is $1,395 to $1,705 a month. The voucher pays the lower of the payment standard or the gross rent, minus the tenant's share, which is usually about 30% of adjusted monthly income. Confirm the local housing authority's current schedule before underwriting.

Which HUD fair market rent area is ZIP 64188 in?

ZIP 64188 is in the Kansas City, MO-KS HUD Metro FMR Area. HUD requires Small Area FMRs in this area, so payment standards are set by ZIP code.

How much did fair market rent change in ZIP 64188 for FY 2027?

The two-bedroom FMR rose 14.0%, from $1,360 in FY 2026 to $1,550 in FY 2027. Since FY 2023 it has risen 33.6%.

When do FY 2027 fair market rents take effect?

HUD's FY 2027 fair market rents took effect on October 1, 2026. When FMRs change, housing authorities generally have up to three months to bring payment standards back within 90% to 110% of the new FMR.

Source: HUD FY 2027 Small Area Fair Market Rents and area FMRs. Payment-standard ranges are 90% to 110% of FMR, HUD's basic range, not a housing authority's published schedule. How payment standards are set

County fair market rent Kansas City, MO fair market rent MO statewide rents What is SAFMR?Data sources