Section 8 Fair Market Rent (FMR) for ZIP 66226 - 2027

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,330
1 Bedroom	$1,450
2 Bedrooms	$1,640
3 Bedrooms	$2,140
4 Bedrooms	$2,570
5 Bedrooms	$2,981
6 Bedrooms	$3,339
7 Bedrooms	$3,606
8 Bedrooms	$3,786

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

The analysis for ZIP 66226 reveals a significant gap between the Fair Market Rent (FMR) and the market rent, known as ZORI. For fiscal year 2024, the FMR is set at $1,400, whereas the ZORI stands at $2,456, indicating a disparity of $1,056. This represents a 43% difference, where the FMR is substantially lower than the market rate. In ZIP 66226, landlords must consider the implications of this gap when renting to Section 8 voucher holders. The FMR being lower than the market rent means that landlords will receive payments closer to $1,400 rather than the typical $2,456. Consequently, landlords might incur a loss if they aim to match the local market rates. Given the context of ZIP 66226, where 13.9% of residents are renters, the median home value is $494,182, and the median income is $173,667, the decision to accept Section 8 tenants involves weighing the financial impact against the stability such tenants can provide. Accepting Section 8 tenants could be seen as a strategic move for landlords seeking consistent income, despite the lower rates compared to the open market.

To summarize, the gap between FMR and ZORI in ZIP 66226 is a critical factor for landlords considering Section 8 tenants. A loss of $1,056 per month, or 43% of the market rent, must be factored into investment decisions. However, the reliability of Section 8 payments might offset the lower rental income in a region with a relatively low renter population and high median incomes.

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.