Location: Franklin County, KS | Metro: Franklin 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 | $820 |
| 1 Bedroom | $830 |
| 2 Bedrooms | $1,080 |
| 3 Bedrooms | $1,290 |
| 4 Bedrooms | $1,420 |
| 5 Bedrooms | $1,647 |
| 6 Bedrooms | $1,845 |
| 7 Bedrooms | $1,993 |
| 8 Bedrooms | $2,093 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,290 | $361,228 | 0.36% | F |
U.S. Census Bureau data (2024)
The ZIP code 66078 presents several challenges for landlords considering Section 8 investments. Tenant turnover is a significant risk, with the market rent at $1,000 compared to the Fair Market Rent (FMR) of $1,010 for FY 2026 in the metro area. This slight difference can lead to higher tenant churn rates as some may seek properties that offer the slightly higher FMR. Additionally, vacancy exposure is a concern due to the lack of available data on the days on market (DOM), which could indicate periods of prolonged vacancies. The deferred maintenance exposure is also noteworthy, with typical home values at $345,898 and median incomes at $80,000. These figures suggest that homeowners might struggle to maintain their properties adequately, potentially leading to increased maintenance costs for landlords.
However, these risks must be weighed against the substantial number of renters in the area. With a renter share of 7.4%, there is a high concentration of potential tenants who may rely on vouchers, indicating strong demand for affordable housing options. This high renter density can provide a steady stream of qualified tenants, mitigating some of the risks associated with vacancy and turnover.
In conclusion, the overall risk for a first-time Section 8 landlord in ZIP 66078 is moderate.
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.