Location: Anderson County, KS | Metro: Allen County, KS
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 | $720 |
| 1 Bedroom | $750 |
| 2 Bedrooms | $960 |
| 3 Bedrooms | $1,330 |
| 4 Bedrooms | $1,580 |
| 5 Bedrooms | $1,833 |
| 6 Bedrooms | $2,053 |
| 7 Bedrooms | $2,217 |
| 8 Bedrooms | $2,328 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,330 | $213,757 | 0.62% | D |
U.S. Census Bureau data (2024)
The real estate landscape in ZIP 66015 is set for a period of stability and potential growth over the next 12-24 months, based on several key indicators. The median home value stands at $163,837, which suggests that the area remains affordable for both first-time buyers and investors looking to enter the market. Despite the lack of specific data regarding the percentage of listings that have been reduced and the median days on market (DOM), the median home value provides a solid foundation for assessing the overall health and direction of the housing market.
On the rental side, the Forward Monthly Rent (FMR) for the metro area in fiscal year 2026 is projected at $880, while the current market rent, according to Census ACS data, is $556. This significant gap between projected FMR and current market rent signals an opportunity for landlords and small-portfolio investors to increase their rental income over time without necessarily facing strong resistance from tenants. As market rents gradually align with the projected FMR, the potential for rental price increases exists, providing a steady stream of income for those who can hold onto properties.
For long-term investors, the setup in ZIP 66015 implies a realistic appreciation thesis. Given the relatively low median home value, any future appreciation would likely be driven by broader economic factors, such as job creation, population growth, and infrastructure development. The gap between current market rents and the projected FMR also supports the idea that demand for rental properties could rise, potentially pushing up property values as investors seek to capitalize on higher rental yields.
However, it's important to note that the lack of specific data on listing reductions and DOM indicates that there might not be a strong seller's market at present. This means that while there is potential for appreciation, the pace may be slower compared to areas experiencing rapid price increases. Investors should focus on the fundamentals of the local economy and the long-term rental market trends to make informed decisions.
To summarize, the combination of a median home value of $163,837 and the disparity between current market rents and projected FMR suggests that ZIP 66015 offers a balanced environment for investment. Landlords and small-portfolio investors can expect stable returns and the possibility of gradual appreciation, making it a viable option for those looking to build a sustainable real estate portfolio.
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.