Section 8 Fair Market Rent (FMR) for ZIP 66543 - 2027

Location: Topeka, KS | Metro: Topeka, KS MSA

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$980
1 Bedroom	$1,040
2 Bedrooms	$1,330
3 Bedrooms	$1,770
4 Bedrooms	$1,800
5 Bedrooms	$2,088
6 Bedrooms	$2,339
7 Bedrooms	$2,526
8 Bedrooms	$2,652

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

980

Median Household Income

$75,288

Housing Units

423

Renter Percentage

11.2%

Occupancy Rate

88.7%

Renter Occupied

The ZIP code 66543, encompassing Vassar, KS, presents a stable housing market characterized by modest rental and homeownership values, alongside a relatively low percentage of renters. This area is particularly appealing for landlords and small-portfolio investors looking for a niche where rental properties can offer steady returns without the volatility often seen in larger urban centers.

Fair Market Rent (FMR): The FMR for ZIP 66543 in fiscal year 2024 is set at $1140, indicating the government's benchmark for what constitutes a reasonable rental price in the area.
Market Rent: According to the latest Census ACS data, the average market rent stands at $1,167, slightly above the FMR but still within a manageable range for most tenants.
Median Home Value: The median home value in the region is $224,675, making it accessible for both first-time buyers and investors looking to diversify their property portfolio.
Renter Share: Only 11.2% of residents in ZIP 66543 are renters, suggesting a smaller but potentially more loyal tenant base compared to areas with higher percentages of renters.
Days on Market (DOM): The data for DOM is currently unavailable, which could imply that sales activity is either too sporadic or well-managed to produce significant trends.
Median Income: The median household income is $75,288, providing a solid economic foundation for the local residents and ensuring they can afford housing costs.

In summary, the real estate landscape in ZIP 66543 offers a balanced opportunity for investment, with rental prices close to the government's FMR and a median home value that remains affordable. Despite the low renter share, the consistent median income supports the feasibility of rental investments. The absence of DOM data suggests a stable market with few rapid turnovers, which can be advantageous for long-term property management strategies.

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.