Location: Manhattan, KS | Metro: Manhattan, KS HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $840 |
| 1 Bedroom | $900 |
| 2 Bedrooms | $1,080 |
| 3 Bedrooms | $1,500 |
| 4 Bedrooms | $1,810 |
| 5 Bedrooms | $2,100 |
| 6 Bedrooms | $2,352 |
| 7 Bedrooms | $2,540 |
| 8 Bedrooms | $2,667 |
U.S. Census Bureau data (2024)
ZIP code 66506 is a renter-heavy area, with 100.0% of the population renting their homes. This indicates a strong potential for Section 8 tenants, given the high demand for rental properties. The total population of 3,155 suggests a niche market, but with all residents being renters, the competition for housing vouchers is likely intense.
The median household income for this ZIP code is not available, which makes it difficult to assess the affordability of typical rents relative to income. However, the Fair Market Rent (FMR) for ZIP 66506 is set at $1000 per month for FY 2024. Landlords should use this figure as a benchmark for setting rents that align with government standards and remain attractive to voucher holders.
Given the absence of specific income data, we cannot calculate the precise percentage of local income that goes toward rent. Nevertheless, with the FMR at $1000, landlords can expect tenants who are financially constrained and rely heavily on housing vouchers to secure affordable living spaces. These tenants will be looking for properties that offer decent quality at rates that do not exceed the FMR.
A landlord in ZIP 66506 should anticipate a tenant pool that is predominantly low-income, seeking stable housing through Section 8 vouchers. Properties must meet the program's quality and safety standards to be eligible for vouchers. Landlords should also be prepared to navigate the administrative requirements associated with the Section 8 program, including regular inspections and rent certifications.
To summarize, ZIP 66506 presents an opportunity for landlords to serve a dense tenant pool reliant on housing vouchers. With the FMR at $1000, landlords can expect to attract tenants who require affordable housing options and are willing to adhere to the guidelines of the Section 8 program.
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.