Section 8 Fair Market Rent (FMR) for ZIP 66408 - 2027

FY 2027 Fair Market Rent Rates

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

ZIP code 66408, located in Kansas, represents a unique blend of suburban tranquility and access to urban amenities, making it an intriguing market for real estate investment. The area's characteristics offer a mix of opportunities and challenges that investors should consider when evaluating potential returns.

• The Fair Market Rent (FMR) for ZIP 66408 stands at $930 per month for the fiscal year 2026, indicating a moderate level of rental pricing that aligns well with the local economy.
• The actual market rent, according to the Census ACS data, is significantly lower at $567 per month, suggesting a gap between what the government deems fair and the current market realities.
• The median home value in the area is $254,567, providing a benchmark for property values and potential resale opportunities.
• Renters make up only 5.0% of the housing market, which is a relatively low percentage and might imply that the area is more suited for homeownership rather than rental investments.
• The median income in ZIP 66408 is $91,250, reflecting a middle-class community where affordability and rental demand could be influenced by economic factors.
• The Days on Market (DOM) figure is listed as N/A, which means there isn't readily available data on how quickly properties are selling or renting, leaving this aspect uncertain for investors.

Synthesizing these points, investors looking at ZIP 66408 should note the discrepancy between the government's FMR and the actual market rents. This suggests that while rental prices are currently lower, there might be room for growth if the market adjusts to meet the FMR. However, the low renter share indicates that the area may favor homeownership, potentially limiting the appeal for those focused solely on rental yields. The median income provides a stable economic foundation, but the lack of DOM data leaves some uncertainty regarding the speed of transactions. Overall, the area presents a balanced opportunity, particularly for those who can leverage the gap between current rents and the FMR to their advantage.

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.