Location: Crawford County, KS | Metro: Crawford County, KS
| Unit Size | Monthly FMR |
|---|---|
| Studio | $730 |
| 1 Bedroom | $750 |
| 2 Bedrooms | $980 |
| 3 Bedrooms | $1,310 |
| 4 Bedrooms | $1,600 |
| 5 Bedrooms | $1,856 |
| 6 Bedrooms | $2,079 |
| 7 Bedrooms | $2,245 |
| 8 Bedrooms | $2,357 |
U.S. Census Bureau data (2024)
The analysis of the Section 8 cap-rate scenario for ZIP code 66734 reveals a clear picture when comparing the annualized Fair Market Rent (FMR) for a 2-bedroom unit at $900 (for FY 2026) against the median home value of $220,663.
In the first scenario, using the Section 8 FMR, the annual rent would be $10,800. This figure, divided by the median home value, gives an implied gross yield of approximately 4.9%. In other words, if a property valued at $220,663 were rented out at the FMR rate, it would generate a rental income that represents 4.9% of its value annually.
The second scenario involves market rent, which is currently not available (N/A). Without a specific market rent figure, it's challenging to provide an exact gross yield. However, it's important to note that market rents typically exceed the Section 8 FMR, suggesting a potentially higher gross yield in reality. Given the lack of specific market data, this scenario remains speculative.
Evaluating these scenarios based on the local context, ZIP 66734 has a renter density of 16.1%, indicating a moderate demand for rental properties. The N/A-day Days on Market (DOM) suggests that there isn't enough recent data to determine how quickly properties are being leased in this area, which could imply either a stable market or one that is less active than others.
Considering the available data, the Section 8 FMR scenario provides a concrete basis for investment decision-making. While the implied gross yield of 4.9% might seem modest, it offers a reliable and consistent income stream, which is valuable in a market with moderate renter density and uncertain leasing speeds.
The absence of market rent data makes it difficult to assess the potential for higher yields through market-rate rentals. Landlords and investors should conduct further research to understand the local rental dynamics better, including trends in market rates and tenant preferences. This additional information can help in making a more informed decision about whether to participate in the Section 8 program or seek higher returns through market-rate rentals.
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.