Section 8 Fair Market Rent (FMR) for ZIP 66510 - 2027

Investment Score for ZIP 66510

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

A skeptical investor looking at ZIP code 66510 might have several concerns regarding the feasibility of investing in properties under the Section 8 program. Let's address these concerns directly using the available data.

• Will FMR $880 (zip FY 2024) cover the mortgage on a $211,324 home? The Fair Market Rent (FMR) of $880 per month does not fully cover the mortgage on a $211,324 home, especially when considering typical interest rates and loan terms. For instance, if we use an average interest rate of 5%, the monthly mortgage payment could be around $1,150, which exceeds the FMR. This means that landlords would need to find additional sources of income or accept a lower profit margin to make ends meet.
• Is there enough renter demand at 16.2%? At 16.2%, the percentage of renters in ZIP 66510 suggests a moderate level of demand. However, it's important to note that this figure alone does not provide a complete picture of the rental market's health. To fully assess the demand, one must consider the number of households in the area and the vacancy rate. If the vacancy rate is low and the number of households is high, the 16.2% could indicate sufficient demand. Conversely, a higher vacancy rate might signal oversupply and weaker demand conditions. The data provided does not give us the vacancy rate or the total number of households, so a definitive conclusion cannot be drawn solely from the 16.2% figure.
• Will vouchers keep pace with $691 market rents? The Housing Choice Voucher Program, commonly known as Section 8, aims to subsidize the difference between the tenant's contribution and the market rent, up to a certain limit. In ZIP 66510, where the market rent is $691, landlords should ensure that the voucher limits are close to or exceed this amount to avoid any financial shortfall. According to the latest data, the voucher payment standard in this area is set to increase, but whether it will match the $691 market rent is uncertain without specific figures. Landlords should monitor local housing authority announcements and adjust their expectations accordingly.

In summary, while the data provides some insights into the investment potential in ZIP 66510 under the Section 8 program, it also highlights areas where further investigation is necessary to make informed decisions. The FMR of $880 is insufficient to cover the mortgage on a $211,324 home, indicating the need for careful financial planning. The renter demand at 16.2% requires additional context to evaluate fully, and the alignment of voucher payments with market rents remains a critical consideration for profitability.

Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.