Location: Crawford County, KS | Metro: Crawford County, KS
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 | $730 |
| 1 Bedroom | $730 |
| 2 Bedrooms | $960 |
| 3 Bedrooms | $1,330 |
| 4 Bedrooms | $1,610 |
| 5 Bedrooms | $1,868 |
| 6 Bedrooms | $2,092 |
| 7 Bedrooms | $2,259 |
| 8 Bedrooms | $2,372 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $960 | $82,899 | 1.16% | B |
| 3BR | $1,330 | $157,319 | 0.85% | C |
U.S. Census Bureau data (2024)
When considering whether to invest in ZIP code 66712 (Arma, KS) for Section 8 properties, follow this decision tree:
1) Does the Fair Market Rent (FMR) of $880 per month cover the debt service on a property valued at $119,492?
No. The FMR of $880 per month is insufficient to cover the typical debt service costs on a property of that value. Debt service for a property priced at $119,492 would likely exceed the FMR, making it financially unviable without additional subsidies.
2) Is the market rent of $828 per month (as reported by the Census ACS) above, at, or below the FMR?
The market rent of $828 is below the FMR of $880. This suggests that while you can charge up to the FMR for Section 8 tenants, the local rental market is slightly lower, which could impact your ability to attract non-Section 8 tenants willing to pay the higher rate.
3) Are the 30.6% renters and the N/A-day days on market (DOM) sufficient to ensure demand for Section 8 properties?
It depends. With 30.6% of the population renting, there is a notable demand for rental housing in Arma, KS. However, the lack of specific data on days on market (DOM) makes it difficult to assess how quickly properties are typically leased. If the DOM is low, it indicates strong demand and could support a Section 8 investment. Conversely, if the DOM is high, it might suggest that finding tenants, even for Section 8 properties, could be challenging.
In summary, the primary gating factor is the inability of the FMR to cover the debt service on a property of $119,492. While the local market rent is below the FMR and there is a significant portion of the population renting, the lack of DOM data means that the viability of a Section 8 investment hinges on securing subsidies or finding other ways to offset the gap between FMR and debt service costs.
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.