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 | $1,130 |
| 2 Bedrooms | $1,450 |
| 3 Bedrooms | $1,930 |
| 4 Bedrooms | $1,960 |
| 5 Bedrooms | $2,274 |
| 6 Bedrooms | $2,547 |
| 7 Bedrooms | $2,751 |
| 8 Bedrooms | $2,889 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,450 | $217,832 | 0.67% | D |
| 3BR | $1,930 | $289,130 | 0.67% | D |
| 4BR | $1,960 | $385,402 | 0.51% | F |
| 5BR | $2,274 | $454,276 | 0.5% | F |
U.S. Census Bureau data (2024)
The ZIP code 66618 in Topeka, KS, is not particularly renter-heavy, with only 9.1% of its population of 10,179 being renters. This indicates that the area is predominantly homeowner-dominated, which could mean that the demand for Section 8 vouchers is relatively low compared to areas with higher percentages of renters.
The median household income in this ZIP is quite robust at $109,884, suggesting that most residents have disposable incomes above the national average. However, the typical market rent of $1,603 stands at approximately 15% of the median income, which is a significant portion but still manageable for many households given their income level.
Comparing the market rent to the Fair Market Rent (FMR) set by HUD, which is $1,120 for FY 2024, reveals that the actual rents in ZIP 66618 are about 43% higher than the FMR. This discrepancy suggests that landlords may need to adjust their expectations regarding rental subsidies, as they might not cover the full market rent in this area.
A landlord in ZIP 66618 should expect tenants who are likely to be on the lower end of the income spectrum relative to the median. The typical Section 8 tenant would have an income below the median, making it essential for landlords to understand the financial capabilities of their potential tenants. Given the income disparity, landlords should prepare for a scenario where tenants may require assistance beyond just the voucher to meet their housing needs.
In conclusion, while ZIP 66618 is not heavily populated with renters, the income levels suggest that tenants who do rent and use vouchers will generally be able to contribute a portion of the rent, albeit not enough to fully match the market rates without additional support. Landlords should be prepared for tenants with lower incomes seeking housing that is affordable despite the high market rents.
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.