Location: Nemaha County, KS | Metro: Topeka, KS MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $720 |
| 1 Bedroom | $750 |
| 2 Bedrooms | $960 |
| 3 Bedrooms | $1,280 |
| 4 Bedrooms | $1,330 |
| 5 Bedrooms | $1,543 |
| 6 Bedrooms | $1,728 |
| 7 Bedrooms | $1,866 |
| 8 Bedrooms | $1,959 |
U.S. Census Bureau data (2024)
The ZIP code 66416, located in Nemaha County, KS, can serve as a cash-flow anchor within a Section 8 portfolio strategy. The Federal Market Rent (FMR) for ZIP 66416 in fiscal year 2024 is set at $880, which is significantly higher than the current market rent of $763. This creates a positive spread of $117 per month, ensuring that landlords receive a consistent and reliable rental income that exceeds the local market rates.
The median home value in ZIP 66416 is $240,121, indicating that the area is relatively affordable. With a 7.5% renter share and a median income of $74,375, there is a steady demand for rental properties among low-income families who qualify for Section 8 assistance. Landlords can leverage this demand to secure long-term tenants, thereby reducing vacancy rates and turnover costs.
While ZIP 66416 does not offer significant appreciation potential due to the lack of data on price-cut shares and days on market (DOM), the focus should be on the stability and reliability of rental income. The guaranteed rent through Section 8 vouchers provides a solid foundation for generating predictable cash flow, making it an ideal anchor property in a diversified investment portfolio.
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.