Location: Anderson County, KS | Metro: Kansas City, MO-KS HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $880 |
| 1 Bedroom | $950 |
| 2 Bedrooms | $1,100 |
| 3 Bedrooms | $1,450 |
| 4 Bedrooms | $1,740 |
| 5 Bedrooms | $2,018 |
| 6 Bedrooms | $2,260 |
| 7 Bedrooms | $2,441 |
| 8 Bedrooms | $2,563 |
U.S. Census Bureau data (2024)
The median home value for ZIP 66014, located in Centerville, Kansas, is approximately $383,000 based on recent data. With a Section 8 Fair Market Rent (FMR) for a two-bedroom unit set at $1,070 annually (FY 2024), we can derive a rough cap-rate picture.
If we use the FMR of $1,070 as the annual rental income for a two-bedroom unit, the implied gross yield would be calculated as follows:
$1,070 / $383,000 = 0.0028 or 0.28%
This low gross yield suggests that relying solely on the FMR might not paint a complete picture of potential rental income. However, given the lack of specific market rent data for two-bedroom units in ZIP 66014, this is the best figure we have to work with.
The 29.1% renter density indicates that a significant portion of residents in ZIP 66014 are renters, which could imply a stable demand for rental properties. However, without specific market rent data for two-bedroom units, it's challenging to provide a more accurate gross yield comparison.
In conclusion, while the FMR provides a baseline for rental income, the actual market rent could offer a higher gross yield, making investment opportunities more attractive. Landlords and small-portfolio investors should consider these factors when evaluating the potential returns of properties in ZIP 66014.
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.