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 | $1,000 |
| 1 Bedroom | $1,060 |
| 2 Bedrooms | $1,360 |
| 3 Bedrooms | $1,810 |
| 4 Bedrooms | $1,840 |
| 5 Bedrooms | $2,134 |
| 6 Bedrooms | $2,390 |
| 7 Bedrooms | $2,581 |
| 8 Bedrooms | $2,710 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,360 | $207,119 | 0.66% | D |
| 3BR | $1,810 | $273,572 | 0.66% | D |
| 4BR | $1,840 | $357,467 | 0.51% | F |
U.S. Census Bureau data (2024)
The ZIP code 66617 in Topeka, KS, has a population of 8,903 individuals, with 21.0% of them being renters. The median household income stands at $86,761, indicating a relatively stable economic environment. However, the percentage of renters suggests that this area is moderately renter-heavy rather than dominated by homeowners. This implies a decent demand for rental properties but not an exceptionally high one.
The typical market rent in this ZIP code is $1,216 per month, which represents approximately 14% of the median household income. This is a reasonable figure, suggesting that most residents can afford the average rent without significant financial strain. For context, the Fair Market Rent (FMR) for ZIP 66617 is set at $1,120 for FY 2024, slightly below the current market rent. Landlords may need to adjust their expectations if they plan to rely on tenants using housing vouchers, as the FMR is lower than the market rate.
A landlord in ZIP 66617 should anticipate a tenant profile that includes individuals and families who can afford the market rent but may prefer the stability and predictability of housing vouchers. These tenants will likely be middle-income earners who find the balance between their income and the cost of living favorable. Given the median income and the proportion of renters, landlords can expect a mix of tenants who are either fully independent or partially supported by housing assistance programs. It's important to note that while there is demand for rentals, it is not overwhelming, and landlords must ensure their properties offer value that justifies the $1,216 rent price.
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.