Location: Brown County, KS | Metro: Brown County, KS
| Unit Size | Monthly FMR |
|---|---|
| Studio | $730 |
| 1 Bedroom | $770 |
| 2 Bedrooms | $990 |
| 3 Bedrooms | $1,240 |
| 4 Bedrooms | $1,490 |
| 5 Bedrooms | $1,728 |
| 6 Bedrooms | $1,935 |
| 7 Bedrooms | $2,090 |
| 8 Bedrooms | $2,195 |
U.S. Census Bureau data (2024)
The ZIP code 66515 is located in a suburban area of Kansas, primarily encompassing parts of Olathe and surrounding communities. This neighborhood is characterized by a predominantly owner-occupied housing stock, with only 1.6% of the 362 residents being renters. The median household income in this area stands at a robust $89,375, indicating a relatively affluent community. However, the lack of data on median home values suggests that detailed property information might be limited or inconsistently reported.
Moving into the realm of rental economics, the Fair Market Rent (FMR) for the metro area, applicable for fiscal year 2026, is set at $910. This figure is established by the U.S. Department of Housing and Urban Development (HUD) to determine payment standards for the Section 8 program. Notably, there is no available data on the current market rent for ZIP 66515, which could indicate either a scarcity of rental properties or a minimal focus on rentals within the area. Given the high median income and low percentage of renters, it's reasonable to infer that market rents, if they were to be calculated, would likely align closely with the FMR or perhaps even exceed it due to the area's affluence.
In terms of suitability for investment strategies, ZIP 66515 appears to favor a hands-off approach for voucher operators rather than a hands-on value-add buyer. The limited rental market and the high income levels of the residents suggest that demand for subsidized housing may be lower compared to areas with higher percentages of renters. For landlords participating in the Section 8 program, the fixed nature of the FMR provides stability and predictability in rental income, making it an attractive option for those seeking passive income without the complexities of actively managing rental properties or enhancing their value.
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.