Location: Nemaha County, KS | Metro: Nemaha 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 | $780 |
| 1 Bedroom | $830 |
| 2 Bedrooms | $1,060 |
| 3 Bedrooms | $1,340 |
| 4 Bedrooms | $1,770 |
| 5 Bedrooms | $2,053 |
| 6 Bedrooms | $2,299 |
| 7 Bedrooms | $2,483 |
| 8 Bedrooms | $2,607 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,060 | $126,593 | 0.84% | C |
U.S. Census Bureau data (2024)
The ZIP code 66415, located in Centralia, KS, has a population of 762 residents. With 16.6% of the population being renters, it indicates that this area is not heavily dominated by renters but rather leans towards homeownership. The median household income in this ZIP code is $70,066, which provides insight into the economic conditions of the area.
Although the exact market rent figures are not available, we can compare the situation with the Fair Market Rent (FMR) set at $970 for the fiscal year 2026 in the metro area. This figure suggests that typical rental costs would be a significant portion of the average local income. Given the median income, a rental cost of $970 would represent approximately 18% of the monthly income, assuming no other income sources. This percentage is calculated by dividing the annual median income by 12 months and then calculating the ratio of the FMR to the monthly income. This implies that rent eats up a considerable chunk of the local income, making affordability a concern for many potential tenants.
In terms of voucher demand, the scarcity of renters in the ZIP code might indicate a lower demand for Section 8 housing vouchers compared to areas with a higher percentage of renters. However, the presence of low-income families who rely on vouchers cannot be overlooked. The FMR of $970 serves as a benchmark for determining eligibility for housing assistance programs, including Section 8 vouchers. Landlords in ZIP 66415 should prepare for a tenant pool that includes individuals and families with incomes below the median, likely seeking affordable housing options through government assistance.
The expected tenant profile in this area would include those who are either employed at jobs with wages below the median household income or are unemployed and receiving assistance. It's important for landlords to understand that while there is a need for affordable housing, the overall demand for Section 8 vouchers may not be as high due to the relatively small number of renters. Nevertheless, landlords who are willing to accept vouchers could benefit from a steady stream of tenants who are committed to paying their rent on time, as the payment process is subsidized by the government.
To conclude, ZIP 66415 is more of a homeowner-dominated area with limited voucher demand. Landlords should anticipate a tenant pool that includes individuals and families with incomes below the median, seeking affordable housing solutions. While the exact market rent figures are not provided, the FMR gives a good indication of the rental price range and the potential impact on local income levels.
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.