Location: Topeka, KS | Metro: Topeka, KS MSA
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 | $850 |
| 1 Bedroom | $900 |
| 2 Bedrooms | $1,150 |
| 3 Bedrooms | $1,540 |
| 4 Bedrooms | $1,560 |
| 5 Bedrooms | $1,810 |
| 6 Bedrooms | $2,027 |
| 7 Bedrooms | $2,189 |
| 8 Bedrooms | $2,298 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,540 | $340,676 | 0.45% | F |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 66546 in fiscal year 2024 is set at $940. This figure represents the maximum amount that a landlord can charge for rent under the Section 8 program. It's important to note that this is not necessarily the rent you will receive; it's the benchmark against which your rental property's market value is compared.
In contrast, the average market rent for the same area, according to the latest Census American Community Survey (ACS), is $1,288. This indicates that the typical renter in ZIP 66546 pays significantly more than the FMR. However, if you choose to participate in the Section 8 program, your rent cannot exceed the FMR of $940.
The demand for rental properties in this ZIP code is substantial, with renters making up 11.4% of the population. This suggests a steady stream of potential tenants who might be interested in Section 8 housing. To put this into perspective, the median home value in ZIP 66546 is around $312,739, which gives you an idea of the acquisition cost for a property in this area.
If you're considering entering the Section 8 market, ensure that your rental property meets all the required standards for the program. Specifically, verify that your property passes the Housing Quality Standards (HQS) inspection. This is crucial because failing this inspection could delay your participation in the program and affect your ability to receive payments.
In summary, while the FMR of $940 may seem lower than the average market rent of $1,288, the high demand for rentals and the stable income from the Section 8 program can still make it a viable option. Just remember to confirm that your property meets the necessary quality standards before proceeding.
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.