HUD Fair Market Rent · FY 2027 · Effective Oct 1, 2026 to Sep 30, 2027
Fair Market Rent in Ray County, Missouri (FY 2027)
$1,546 a month. That's HUD's FY 2027 Fair Market Rent for a two-bedroom in Ray County, and it's the baseline every voucher in Ray is measured against.
Two-bedroom FMR
$1,546
+13.8% from FY 2026
Payment standard
$1,391–$1,701
90% to 110% of the FMR, two-bedroom
Income to afford
$61,840
a year, with rent at 30% of income
Rank in Missouri
8th of 116
by two-bedroom FMR, highest first
FY 2027 Fair Market Rents
Payment standard is the 90% to 110% band a housing authority can set. Income needed puts rent at 30% of gross income, and the hourly wage assumes a 40-hour week.
| Bedrooms | FMR | Payment standard | Income needed | Hourly wage | vs FY 2026 |
|---|---|---|---|---|---|
| Studio | $1,257 | $1,131–$1,383 | $50,280 | $24.17/hr | +14.8% |
| 1 bedroom | $1,366 | $1,229–$1,503 | $54,640 | $26.27/hr | +14.1% |
| 2 bedroom | $1,546 | $1,391–$1,701 | $61,840 | $29.73/hr | +13.8% |
| 3 bedroom | $2,020 | $1,818–$2,222 | $80,800 | $38.85/hr | +14.2% |
| 4 bedroom | $2,419 | $2,177–$2,661 | $96,760 | $46.52/hr | +15.0% |
Five to eight bedrooms (PropMetrics estimates)
HUD stops at four bedrooms. These add 15% of the four-bedroom rent per extra bedroom. It's our estimate, not a HUD number.
| Bedrooms | Estimated FMR | Payment standard |
|---|---|---|
| 5 bedroom Estimate | $2,782 | $2,504–$3,060 |
| 6 bedroom Estimate | $3,145 | $2,831–$3,460 |
| 7 bedroom Estimate | $3,508 | $3,157–$3,859 |
| 8 bedroom Estimate | $3,870 | $3,483–$4,257 |
Source: HUD Office of Policy Development and Research, FY 2027 Fair Market Rents. Rents include utilities. huduser.gov
Market check
HUD's number is one input. What does a two-bedroom in Ray actually rent for?
Search any address in Ray for a rent estimate built from nearby comps, with the HUD figure right next to it.
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What a voucher pays here
The voucher doesn't pay the FMR itself. It pays the payment standard. Housing authorities set it anywhere from 90% to 110% of FMR, which puts a two-bedroom standard in Ray somewhere between $1,391 and $1,701. The tenant pays roughly 30% of their income, the voucher covers the rest up to the standard, and the PHA won't approve a rent above what comparable unassisted units get.
$1,546 a month is affordable, by HUD's 30% rule, on an income of roughly $61,840 a year. Put another way, $30 an hour full time.
Worked example for a two-bedroom renting at the payment standard. The tenant pays 30% of monthly income and the voucher covers the rest.
| Monthly household income | Tenant pays (30%) | Voucher pays at 90%$1,391 | Voucher pays at 100%$1,546 | Voucher pays at 110%$1,701 |
|---|---|---|---|---|
| $2,500 | $750 | $641 | $796 | $951 |
| $4,000 | $1,200 | $191 | $346 | $501 |
Rate history
The two-bedroom rate went up 14% from FY 2026 ($1,358) to FY 2027 ($1,546). Since FY 2020 it's up 58% in total, about 6.8% a year. The Missouri median moved up 8% over the same year.
| Fiscal year | Studio | 1 BR | 2 BR | 3 BR | 4 BR | 2BR change |
|---|---|---|---|---|---|---|
| FY 2020 | $678 | $813 | $978 | $1,314 | $1,490 | — |
| FY 2021 | $731 | $857 | $1,021 | $1,364 | $1,552 | +4.4% |
| FY 2022 | $762 | $875 | $1,030 | $1,365 | $1,569 | +0.9% |
| FY 2023 | $885 | $1,002 | $1,164 | $1,530 | $1,777 | +13.0% |
| FY 2024 | $985 | $1,098 | $1,258 | $1,645 | $1,931 | +8.1% |
| FY 2025 | $1,074 | $1,183 | $1,346 | $1,756 | $2,078 | +7.0% |
| FY 2026 | $1,095 | $1,197 | $1,358 | $1,769 | $2,103 | +0.9% |
| FY 2027In effect | $1,257 | $1,366 | $1,546 | $2,020 | $2,419 | +13.8% |
About this rate
Fair Market Rent is HUD's estimate of what a modest, decent unit rents for in an area, utilities included. It's set once a year and runs October to September. For FY 2027 that's October 1, 2026 through September 30, 2027. In Ray, that runs from $1,257 for a studio up to $2,419 for four bedrooms, all five rates in the table above.
This is a metro rate. The county doesn't get one of its own. HUD lumps Ray in with 12 other counties in the Kansas City metro, Jackson County, Johnson County, Clay County among them, and every one of them gets $1,546 for a two-bedroom. Where you are inside the metro doesn't change the county number. It does change the ZIP number, covered below.
Among Missouri's 116 counties, Ray ranks 8th for two-bedroom FMR. That's about 61% above the state median of $962 and about 45% above the national median county at $1,063. About 23,145 people live here, 49th in the state.
Rates by ZIP code
Zoom in and the picture changes. HUD's Small Area FMRs put a two-bedroom at $1,000 in 64085 (Richmond) and $1,460 in 64062 (Lawson), with the 7 ZIP codes in between. Housing authorities in HUD-designated metros use those ZIP rates instead of the county rate. Everywhere else the ZIP numbers show where rents actually sit, and the county rate stays the official standard.
Counties sharing the Kansas City metro rate
HUD sets one rate for the whole metro, so every county here carries the same $1,546 two-bedroom figure as Ray.
Jackson County
719,976 people
$1,546
Johnson County
KS · 620,631 people
$1,546
Clay County
258,122 people
$1,546
Wyandotte County
KS · 167,654 people
$1,546
Cass County
110,773 people
$1,546
Platte County
110,371 people
$1,546
Leavenworth County
KS · 83,123 people
$1,546
Miami County
KS · 34,938 people
$1,546
Lafayette County
33,115 people
$1,546
Clinton County
21,414 people
$1,546
Linn County
KS · 9,767 people
$1,546
Caldwell County
8,927 people
$1,546
Nearby counties
Two-bedroom FMR, with how each compares to Ray.
Lafayette County
20 mi · 33,115 people
$1,546
same rate
Clay County
24 mi · 258,122 people
$1,546
same rate
Caldwell County
25 mi · 8,927 people
$1,546
same rate
Clinton County
29 mi · 21,414 people
$1,546
same rate
Jackson County
30 mi · 719,976 people
$1,546
same rate
Carroll County
31 mi · 8,411 people
$962
-38%
Livingston County
39 mi · 14,364 people
$962
-38%
Platte County
39 mi · 110,371 people
$1,546
same rate
Questions people ask
$1,546 a month for FY 2027, which runs October 1, 2026 through September 30, 2027. The other rates are $1,257 for a studio, $1,366 for one bedroom, $2,020 for three and $2,419 for four.
Tools for this county
Fair Market Rent lookup
Any ZIP code's Small Area FMR by bedroom count
Section 8 rent calculator
Payment standard and tenant share for a specific rent
What is Fair Market Rent?
How HUD calculates FMR and what it means for landlords
Rent affordability calculator
The income a household needs for a given rent
What does a rental in Ray actually go for?
HUD's number is one input. Search any address in Ray for a rent estimate built from nearby comps. Free to start, no card.
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