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 | $1,070 |
| 1 Bedroom | $1,110 |
| 2 Bedrooms | $1,430 |
| 3 Bedrooms | $1,880 |
| 4 Bedrooms | $1,910 |
| 5 Bedrooms | $2,216 |
| 6 Bedrooms | $2,482 |
| 7 Bedrooms | $2,681 |
| 8 Bedrooms | $2,815 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,430 | $256,813 | 0.56% | F |
| 3BR | $1,880 | $319,632 | 0.59% | F |
| 4BR | $1,910 | $424,894 | 0.45% | F |
| 5BR | $2,216 | $524,577 | 0.42% | F |
U.S. Census Bureau data (2024)
The ZIP code 66610 in Topeka, Kansas, stands out within Shawnee County due to its unique demographic and economic characteristics. With a population of 9,849 residents, only 5.2% are renters, indicating a strong preference for homeownership among the local populace. The median household income is robust at $132,821, significantly higher than the national average. Furthermore, the median home value of $381,763 suggests that homeownership is both desirable and attainable in this area.
Despite the high median income and home values, the rental market dynamics present an interesting opportunity for landlords. The Fair Market Rent (FMR) for Section 8 vouchers in ZIP 66610 for fiscal year 2024 is set at $1,440, while the actual market rent based on Census ACS data is $1,271. This discrepancy means that landlords can potentially receive a higher monthly payment through the Section 8 program compared to typical market rates, thereby increasing their rental income stability and predictability.
Evaluating the overall data signature of ZIP 66610, it reads as stable. The high median income and home values indicate a prosperous community with little incentive for residents to transition into rental housing. However, the slightly elevated FMR for Section 8 vouchers offers a consistent revenue stream for landlords willing to participate in the program, ensuring a steady income even when market rents fluctuate. For small-portfolio investors, this ZIP code presents a reliable investment environment where the rental income from Section 8 tenants can be a significant advantage over the general market.
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.