Location: Dickinson County, KS | Metro: Geary County, KS HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $890 |
| 1 Bedroom | $970 |
| 2 Bedrooms | $1,130 |
| 3 Bedrooms | $1,560 |
| 4 Bedrooms | $1,880 |
| 5 Bedrooms | $2,181 |
| 6 Bedrooms | $2,443 |
| 7 Bedrooms | $2,638 |
| 8 Bedrooms | $2,770 |
U.S. Census Bureau data (2024)
Junction City, Kansas, located in ZIP code 66441, stands out within Geary County due to its notable demographic and economic characteristics. With a population of 25,828, it has a significant rental market where 48.9% of the residents are tenants. The median household income here is $59,522, which contrasts with the median home value of $207,542, indicating a mixed housing market with both renters and homeowners.
The key economic factor for landlords and small-portfolio investors interested in Section 8 properties is the disparity between the Fair Market Rent (FMR) and the actual market rent. For fiscal year 2024, the FMR for Junction City is set at $980, whereas the market rent, measured by ZORI (Zillow's Observed Rental Index), is $1,179. This means that landlords can expect to receive a subsidy that covers approximately 83% of the average market rent. However, they must also consider the remaining 17% gap, which they would need to bridge through other means, such as higher rents from non-Section 8 tenants or property management efficiencies.
The data signature for ZIP 66441 suggests a stable market. The relatively high percentage of renters indicates a strong demand for affordable housing, while the median income provides a basis for understanding the financial capacity of potential tenants. The median home value also reflects a broader stability in the local real estate market. For investors looking to leverage Section 8 vouchers, Junction City presents an opportunity where the subsidies closely align with market conditions, making it a viable option for those willing to manage the smaller gap between FMR and market rents.
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.