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 | $780 |
| 1 Bedroom | $830 |
| 2 Bedrooms | $1,060 |
| 3 Bedrooms | $1,410 |
| 4 Bedrooms | $1,430 |
| 5 Bedrooms | $1,659 |
| 6 Bedrooms | $1,858 |
| 7 Bedrooms | $2,007 |
| 8 Bedrooms | $2,107 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $830 | $49,728 | 1.67% | A+ |
| 2BR | $1,060 | $94,622 | 1.12% | B |
| 3BR | $1,410 | $142,083 | 0.99% | C |
| 4BR | $1,430 | $152,269 | 0.94% | C |
U.S. Census Bureau data (2024)
The ZIP code 66608 in Shawnee County, Topeka, KS, stands out due to its unique data profile. With a population of 4,216 residents, 36.1% of whom are renters, it has a median income of $49,126 and a median home value of $106,853. This combination of relatively low median income compared to home values suggests a significant disparity between rental and homeownership costs.
In terms of voucher economics, the Fair Market Rent (FMR) for ZIP 66608 in fiscal year 2024 is set at $960, which is notably higher than the market rent reported by the Census American Community Survey (ACS), which stands at $866. This indicates that landlords participating in the Section 8 program can expect slightly higher rents than the current market average, potentially making the ZIP code attractive for those who want to ensure stable rental income.
The data signature for ZIP 66608 reads as "stable." The consistent gap between median home values and median incomes, along with the favorable FMR for Section 8 vouchers, points to a steady environment where the housing market is not undergoing rapid changes. Landlords and small-portfolio investors should find this ZIP code reliable for long-term investments, particularly if they focus on properties eligible for Section 8 assistance. The slight premium in FMR over market rates supports a predictable income stream for rental properties, mitigating risks associated with transitional markets.
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.