Location: Topeka, KS | Metro: Topeka, KS MSA
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 | $760 |
| 1 Bedroom | $800 |
| 2 Bedrooms | $1,030 |
| 3 Bedrooms | $1,370 |
| 4 Bedrooms | $1,390 |
| 5 Bedrooms | $1,612 |
| 6 Bedrooms | $1,805 |
| 7 Bedrooms | $1,949 |
| 8 Bedrooms | $2,046 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,030 | $240,618 | 0.43% | F |
| 3BR | $1,370 | $351,014 | 0.39% | F |
| 4BR | $1,390 | $372,179 | 0.37% | F |
U.S. Census Bureau data (2024)
The classification of ZIP 66066 (Oskaloosa, KS) on the axes of yield and stability reveals a nuanced picture for landlords and small-portfolio investors.
On the yield axis, the Federal Market Rent (FMR) for fiscal year 2024 stands at $880, which is notably higher than the market rent of $849. This indicates a potential for above-average rental income in the area. Additionally, the median home value of $312,825 suggests a relatively affordable market for purchasing properties, which can be leveraged to achieve good rental yields. The difference between FMR and market rent, while not huge, does point towards a slightly higher earning potential if landlords can capture the full FMR rate.
Regarding stability, the data presents a mixed scenario. With only 15.5% of residents being renters, the demand for rental properties is relatively low, which could translate into less consistent cash flow. However, the average household income of $79,990 provides a solid financial base for potential tenants, suggesting that those who do rent may have a higher likelihood of timely payments. The lack of data on days on market (DOM) makes it challenging to assess the ease of finding tenants, but generally, lower rental rates indicate a less competitive market for landlords.
Based on these figures, ZIP 66066 leans towards a steady-cashflow zone rather than a high-yield/low-stability flip-style market. While there is potential for slightly higher yields due to the disparity between FMR and market rent, the relatively low percentage of renters and the absence of DOM data suggest a more stable but less dynamic market. Investors should focus on properties that offer a balance between affordability and the ability to command rents close to the FMR to maximize returns while maintaining tenant stability.
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.