Location: Nemaha County, KS | Metro: Nemaha County, KS
| Unit Size | Monthly FMR |
|---|---|
| Studio | $740 |
| 1 Bedroom | $810 |
| 2 Bedrooms | $1,000 |
| 3 Bedrooms | $1,260 |
| 4 Bedrooms | $1,670 |
| 5 Bedrooms | $1,937 |
| 6 Bedrooms | $2,169 |
| 7 Bedrooms | $2,343 |
| 8 Bedrooms | $2,460 |
U.S. Census Bureau data (2024)
The investment landscape in ZIP code 66522 presents several challenges that landlords must consider before entering into a Section 8 rental agreement. One significant issue is the potential for high tenant turnover, which can be costly due to the time and resources required for screening, moving, and maintenance. Although the market rent is not specified, the Fair Market Rent (FMR) for the area is set at $1,080 per month for fiscal year 2026, which is the metro standard. This figure serves as a benchmark for rental prices but does not guarantee stable occupancy.
Vacancy exposure is another concern, especially when the Days on Market (DOM) is unspecified. A longer DOM indicates a higher risk of vacancy, which can lead to financial strain on the landlord. The median income in ZIP 66522 is $57,500, which is a critical factor in assessing the ability of tenants to maintain consistent rental payments. However, without knowing the typical home value, it's challenging to gauge the overall economic stability of the neighborhood.
The median income also raises questions about deferred maintenance exposure. Properties in areas with lower incomes might face greater risks of neglect if tenants cannot afford to cover additional costs beyond their monthly rent. This could result in higher repair bills and maintenance requirements for landlords, impacting the profitability of their investment.
Despite these risks, the high renter share of 23.1% in ZIP 66522 suggests a robust demand for rental housing, including units that accept Section 8 vouchers. High renter density typically correlates with increased competition for available units, potentially leading to a higher number of voucher holders seeking housing. This dynamic can mitigate some of the risks associated with vacancy and tenant turnover, as there is a larger pool of potential tenants.
In conclusion, the investment risk for a first-time Section 8 landlord in ZIP 66522 is moderate. While there are notable risks such as uncertain tenant turnover rates and potential deferred maintenance issues, the high renter share provides a buffer against vacancy and ensures a steady stream of interested tenants.
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.