Section 8 Fair Market Rent (FMR) for ZIP 66045 - 2027

Location: Lawrence, KS | Metro: Lawrence, KS MSA

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$960
1 Bedroom	$1,100
2 Bedrooms	$1,270
3 Bedrooms	$1,760
4 Bedrooms	$2,110
5 Bedrooms	$2,448
6 Bedrooms	$2,742
7 Bedrooms	$2,961
8 Bedrooms	$3,109

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

1,925

Median Household Income

$13,750

Housing Units

Renter Percentage

100.0%

Occupancy Rate

55.4%

Renter Occupied

The ZIP code 66045, located in Kansas, is primarily characterized by a high concentration of renters and relatively low median income levels. This area presents unique opportunities and challenges for landlords and small-portfolio investors, particularly given the context of federal housing programs.

Fair Market Rent (FMR): The Fair Market Rent for ZIP 66045 in fiscal year 2024 is set at $1010, which represents the maximum amount that a tenant participating in the Section 8 program can pay towards their housing costs.
Renter Share: A staggering 100.0% of the households in this ZIP code are renters, indicating a strong demand for rental properties and the potential for steady occupancy rates.
Median Income: The median income in ZIP 66045 is $13,750, significantly lower than the national average, which can impact the pool of potential tenants eligible for Section 8 assistance.
Days on Market (DOM): Data on the average days it takes to rent out a property is currently unavailable, but the high renter share suggests that vacancies might be short-lived.
Market Rent: Specific data on market rent is not available, but it's likely that rental rates are influenced by the FMR and the local economic conditions.
Median Home Value: Information regarding the median home value is also not available, but considering the high renter share, it's reasonable to assume that homeownership is less prevalent.

Given the high percentage of renters and the established Fair Market Rent, landlords and small-portfolio investors in ZIP 66045 should focus on properties that align with the FMR to attract Section 8 tenants. The low median income level means that competition for these tenants will be fierce, necessitating a keen understanding of the local housing market and the ability to maintain properties that meet the requirements for Section 8 participation. While the exact market rent and median home values are unknown, the strong rental demand indicates a robust opportunity for those who can navigate the complexities of the Section 8 program and provide quality housing solutions.

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.