Location: Manhattan, KS | Metro: Manhattan, KS HUD Metro FMR Area
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 | $980 |
| 1 Bedroom | $1,050 |
| 2 Bedrooms | $1,260 |
| 3 Bedrooms | $1,740 |
| 4 Bedrooms | $2,110 |
| 5 Bedrooms | $2,448 |
| 6 Bedrooms | $2,742 |
| 7 Bedrooms | $2,961 |
| 8 Bedrooms | $3,109 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,260 | $121,825 | 1.03% | B |
| 3BR | $1,740 | $194,281 | 0.9% | C |
U.S. Census Bureau data (2024)
The rental market in ZIP 66517, located in Ogden, Kansas, presents a nuanced landscape for both renters and landlords. The median household income stands at $68,421, which provides a baseline for understanding the financial capacity of potential tenants. However, when compared to the market rate of $906 (ZORI), it becomes evident that there is an affordability gap.
A household earning the median income would struggle to pay the market rate without significant financial strain. According to the Federal Market Rent (FMR) for zip code 66517 in fiscal year 2024, the standard voucher payment is set at $1040. This figure exceeds the market rate, indicating that voucher recipients could potentially secure housing more easily than those relying solely on their income.
With 40.4% of the population being renters and a total population of 1,696, the competition among landlords is moderate but present. The affordability gap means that landlords who accept vouchers may find a more stable tenant pool, as voucher payments are guaranteed and typically cover a larger portion of the rent. For those focusing on cash-paying tenants, the challenge lies in attracting individuals who can comfortably afford the market rate.
The takeaway for landlords considering voucher versus cash-pay strategies is clear: accepting vouchers can provide a steady stream of income and reduce vacancy rates, given the higher payment standard compared to the market rate. However, landlords should also be prepared for the administrative requirements associated with voucher programs. On the other hand, targeting cash-paying tenants might require offering competitive pricing or amenities to attract and retain them, especially given the income levels relative to the market rate.
In conclusion, the decision to accept vouchers or focus on cash-paying tenants should be informed by an understanding of the local affordability dynamics. Vouchers offer a reliable source of income, while cash-paying strategies demand careful consideration of the economic realities faced by potential tenants in ZIP 66517.
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.