Location: Marshall County, 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 | $820 |
| 2 Bedrooms | $980 |
| 3 Bedrooms | $1,360 |
| 4 Bedrooms | $1,640 |
| 5 Bedrooms | $1,902 |
| 6 Bedrooms | $2,130 |
| 7 Bedrooms | $2,300 |
| 8 Bedrooms | $2,415 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,360 | $281,344 | 0.48% | F |
U.S. Census Bureau data (2024)
The potential risks for becoming a Section 8 landlord in ZIP 66549 are significant and should be carefully considered. Tenant turnover is a critical issue, as the market rent stands at $924 compared to the Federal Market Rent (FMR) of $880 for FY 2024. This discrepancy suggests that tenants might prefer higher-paying market rents over the lower FMR rates, leading to increased turnover and associated costs.
Vacancy exposure is another concern. With the Days on Market (DOM) being N/A, it indicates a lack of data on how long properties typically remain vacant before being rented out. This uncertainty can be problematic for landlords who need steady cash flow.
Deferred maintenance is also a notable risk. The typical home value in ZIP 66549 is $299,903, while the median income is $79,318. Given the income level, many residents may struggle to afford necessary repairs and maintenance, which can lead to property degradation if not managed properly.
However, these risks must be weighed against the high concentration of renters in the area. The 17.2% renter share suggests a robust demand for rental properties, including those that accept Section 8 vouchers. High renter density often translates into a larger pool of potential voucher holders, increasing the likelihood of finding stable tenants.
In conclusion, despite the challenges posed by tenant turnover, vacancy exposure, and deferred maintenance, the high renter density in ZIP 66549 presents an opportunity for landlords willing to navigate these risks. Therefore, the overall risk for a first-time Section 8 landlord in this ZIP code is moderate.
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.