Location: Topeka, 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 | $790 |
| 1 Bedroom | $800 |
| 2 Bedrooms | $970 |
| 3 Bedrooms | $1,340 |
| 4 Bedrooms | $1,620 |
| 5 Bedrooms | $1,879 |
| 6 Bedrooms | $2,104 |
| 7 Bedrooms | $2,272 |
| 8 Bedrooms | $2,386 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $970 | $191,263 | 0.51% | F |
| 3BR | $1,340 | $278,544 | 0.48% | F |
| 4BR | $1,620 | $328,247 | 0.49% | F |
| 5BR | $1,879 | $413,148 | 0.45% | F |
U.S. Census Bureau data (2024)
The median income in ZIP code 66536, which encompasses Saint Marys, Kansas, stands at $85,568. Given the market rate for rent at $887 per month according to the Census ACS, it becomes evident that a significant portion of the income is dedicated to housing costs. This places a considerable financial burden on households, especially considering the Federal Market Rent (FMR) standard for voucher payments in the area for fiscal year 2024 is set at $880.
With 28.7% of the 4,204 residents being renters, the competition among landlords is moderate but not overwhelming. The fact that the market rate and the voucher payment rates are nearly identical suggests that there is little difference in revenue between accepting vouchers and relying solely on cash-paying tenants.
However, the affordability gap is a critical issue for both renters and landlords. Households earning the median income would likely struggle to find affordable housing options outside of the voucher program, given the high rent-to-income ratio. For landlords, this means that they must consider the benefits of accepting vouchers, such as a guaranteed income source, against the potential drawbacks, including administrative requirements and limitations on rental increases.
In conclusion, landlords in ZIP 66536 should evaluate their strategy based on the local economic conditions. Accepting vouchers could stabilize their tenant base and ensure steady income, while focusing on cash-paying tenants might offer greater flexibility in setting rents. The key takeaway is that with the market rate and voucher payment rates almost equal, landlords have a balanced decision to make, influenced heavily by the local economic climate and their own business goals.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.