Location: Woodson County, KS | Metro: Allen County, KS
| Unit Size | Monthly FMR |
|---|---|
| Studio | $820 |
| 1 Bedroom | $830 |
| 2 Bedrooms | $1,000 |
| 3 Bedrooms | $1,330 |
| 4 Bedrooms | $1,350 |
| 5 Bedrooms | $1,566 |
| 6 Bedrooms | $1,754 |
| 7 Bedrooms | $1,894 |
| 8 Bedrooms | $1,989 |
U.S. Census Bureau data (2024)
The ZIP code 66720, located in Chanute, Kansas, within Neosho County, stands out due to its demographic and economic characteristics. With a population of 10,631, it has a rental rate of 26.5%, indicating a significant portion of residents who might be interested in rental properties. The median income in this area is $56,911, which is relatively modest compared to the median home value of $96,595. This suggests that homeownership is somewhat less affordable, potentially making rental properties more attractive.
When it comes to Section 8 vouchers, the Fair Market Rent (FMR) for the metro area for fiscal year 2026 is set at $900. However, the current market rent, as reported by the Census Bureau's American Community Survey, is $696. This discrepancy means that landlords accepting Section 8 vouchers could see a substantial increase in rental income, up to $204 more per month than the average market rate. It also implies that tenants with vouchers can afford higher rents than the local market average, potentially opening up a wider range of housing options for them.
Based on the data, the ZIP 66720 appears to have a stable economic environment. The median income and home values suggest a balanced community where both renters and homeowners coexist. The gap between the FMR and the current market rent indicates a potential opportunity for landlords to benefit from Section 8 programs without facing the typical challenges of lower reimbursement rates. Overall, the data signature points towards a stable market, with the potential for Section 8 to enhance the rental income for property owners.
Data Sources: FMR data from HUD (2027). 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.