Location: Anderson County, KS | Metro: Anderson 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 | $710 |
| 1 Bedroom | $740 |
| 2 Bedrooms | $970 |
| 3 Bedrooms | $1,340 |
| 4 Bedrooms | $1,620 |
| 5 Bedrooms | $1,879 |
| 6 Bedrooms | $2,104 |
| 7 Bedrooms | $2,272 |
| 8 Bedrooms | $2,386 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $970 | $123,892 | 0.78% | D |
| 3BR | $1,340 | $210,715 | 0.64% | D |
| 4BR | $1,620 | $260,724 | 0.62% | D |
U.S. Census Bureau data (2024)
The investment risk assessment for ZIP code 66032 in Kansas, particularly concerning Section 8 properties, highlights several potential challenges that landlords and small-portfolio investors should be aware of. First, tenant turnover can be a significant issue. The market rent of $945 stands above the Fair Market Rent (FMR) of $890 for fiscal year 2026, which is indicative of the metro area. This gap suggests that tenants receiving Section 8 vouchers might struggle to afford market rents, leading to higher turnover rates.
Vacancy exposure is another critical factor. With an average Days on Market (DOM) being unavailable, it's challenging to predict how long properties might remain vacant between tenancies. This uncertainty can lead to financial strain, especially if there are periods when the property isn't generating rental income.
Deferred maintenance is also a concern, given the typical home value of $186,520 and a median income of $69,647. Landlords may find themselves needing to invest in property upkeep to meet housing quality standards, which can be costly. The financial burden of maintaining properties to these standards can be significant, particularly when the median income does not fully cover the costs associated with such investments.
However, the high renter share of 25.1% in ZIP 66032 presents a positive counterbalance to these risks. A larger proportion of renters often translates into higher demand for rental units, including those utilizing Section 8 vouchers. This increased demand can stabilize occupancy rates and reduce the likelihood of prolonged vacancies.
In conclusion, despite the potential issues with tenant turnover, vacancy exposure, and the need for property maintenance, the high renter density in ZIP 66032 suggests a relatively stable market for Section 8 properties. The verdict for a first-time Section 8 landlord in this area is moderate risk.
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.