Section 8 Fair Market Rent (FMR) for ZIP 66401 - 2027

Location: Topeka, KS | Metro: Geary County, KS HUD Metro FMR Area

Investment Score for ZIP 66401

Monthly Rent (2BR)

$1,220

Median Price (2BR)

$259,159

1% Rule

0.47%

Annual Yield

5.65%

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$900
1 Bedroom	$950
2 Bedrooms	$1,220
3 Bedrooms	$1,630
4 Bedrooms	$1,650
5 Bedrooms	$1,914
6 Bedrooms	$2,144
7 Bedrooms	$2,316
8 Bedrooms	$2,432

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
2BR	$1,220	$259,159	0.47%	F
3BR	$1,630	$322,464	0.51%	F
4BR	$1,650	$331,140	0.5%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

1,948

Median Household Income

$73,516

Housing Units

1,057

Renter Percentage

27.2%

Occupancy Rate

79.8%

Renter Occupied

229

The area covered by ZIP code 66401 in Kansas is characterized by a stable housing market, offering both rental and homeownership opportunities. With a focus on providing insights for landlords and small-portfolio investors, this analysis delves into key metrics that define the investment landscape within this region.

The Fair Market Rent (FMR) for ZIP 66401 in fiscal year 2024 is set at $880, indicating the average monthly rent for a two-bedroom apartment that qualifies under the Section 8 program.
While specific market rent data is currently unavailable, the presence of a significant 27.2% renter share suggests a notable demand for rental properties in the area.
The median home value stands at $292,906, reflecting the typical price point for residential real estate in ZIP 66401.
The median income of $73,516 provides a benchmark for the financial capacity of residents, which can influence both rental and homeownership trends.
Due to the lack of specific data on days on market (DOM), it's challenging to gauge the speed of property sales directly. However, the combination of other factors points towards a balanced market.
The absence of precise market rent figures makes it essential to rely on FMR and local real estate trends for informed decision-making.

For landlords and small-portfolio investors, ZIP 66401 presents a viable investment opportunity with a defined rental threshold and a substantial portion of renters. The median home value offers a realistic assessment of the local real estate market, while the median income suggests that residents have the financial means to support both rental payments and homeownership. Despite the unavailability of certain metrics, the overall stability and reasonable costs make this area attractive for those looking to enter or expand their real estate portfolio in Kansas.

Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.