Location: Topeka, KS | Metro: Topeka, KS MSA
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 | $860 |
| 1 Bedroom | $910 |
| 2 Bedrooms | $1,170 |
| 3 Bedrooms | $1,560 |
| 4 Bedrooms | $1,580 |
| 5 Bedrooms | $1,833 |
| 6 Bedrooms | $2,053 |
| 7 Bedrooms | $2,217 |
| 8 Bedrooms | $2,328 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,170 | $214,563 | 0.55% | F |
| 3BR | $1,560 | $296,789 | 0.53% | F |
U.S. Census Bureau data (2024)
The analysis of ZIP code 66440 in Hoyt, Kansas, reveals several key insights for landlords and small-portfolio investors. Firstly, the rent math does work favorably. The Fair Market Rent (FMR) for the zip code in fiscal year 2024 is set at $990, which is slightly below the market rent of $1,012 according to the Census American Community Survey (ACS). This indicates that landlords can expect to cover their costs and generate a modest profit without significantly undercutting market rates.
Regarding acquisition affordability, the median home value stands at $287,842, making it a relatively affordable area for investment. However, the lack of data on days on market (DOM) and the percentage of homes that required price cuts before selling suggests that the local housing market might be stable but lacks recent transactional detail to provide a comprehensive picture. Investors should consider additional research to understand the dynamics of the local real estate market.
Tenant demand in ZIP 66440 is moderate. With a total population of 1,943, the renter share is 11.3%. This means that approximately 219 individuals are potential renters. While the number of renters is not high, it does indicate a steady demand that can support a small portfolio of rental properties.
In conclusion, ZIP 66440 presents a viable opportunity for real-estate investment, particularly for those interested in rental properties. The favorable rent math, combined with an affordable median home value, makes it a promising location. However, the limited data on recent transactions implies that investors should conduct thorough due diligence to fully grasp the local market conditions. The moderate tenant demand supports the idea that this area is suitable for small-scale investors looking for a stable, albeit smaller, pool of potential tenants.
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.