Location: Bourbon County, KS | Metro: Bourbon County, KS
| Unit Size | Monthly FMR |
|---|---|
| Studio | $710 |
| 1 Bedroom | $760 |
| 2 Bedrooms | $990 |
| 3 Bedrooms | $1,240 |
| 4 Bedrooms | $1,530 |
| 5 Bedrooms | $1,775 |
| 6 Bedrooms | $1,988 |
| 7 Bedrooms | $2,147 |
| 8 Bedrooms | $2,254 |
U.S. Census Bureau data (2024)
The classification of ZIP code 66741 hinges on the available data points concerning yield and stability. The Federal Market Rent (FMR) for the metro area in fiscal year 2026 is set at $910, which serves as a benchmark for rental yields. However, the absence of specific market rental rates and home values complicates a precise yield analysis. Nonetheless, with only 8.2% of the population being renters, it suggests a limited demand for rental properties, thereby affecting potential yields.
Moving to stability, the median household income in ZIP 66741 stands at $94,792, indicating a relatively stable economic base for residents. This figure is crucial as it implies that tenants have a higher likelihood of maintaining consistent rental payments due to their financial standing. Unfortunately, the lack of days-on-market (DOM) data prevents a complete assessment of property turnover speed, which is another key indicator of market stability.
Given the low percentage of renters and the moderate income level, ZIP 66741 leans towards a steady-cashflow zone rather than a high-yield/low-stability flip-style market. The 8.2% renter rate suggests that the majority of the population owns homes, reducing the volatility typically associated with rental markets. Furthermore, the higher median income supports the idea of a stable tenant base capable of sustaining regular rental payments.
To summarize, the classification of ZIP 66741 as a steady-cashflow zone is driven by the 8.2% renter rate and the $94,792 median income. These figures point to a market where landlords can expect reliable but not exceptionally high rental returns. While the FMR of $910 provides a guideline for rental pricing, the absence of local market rental rates and home values means that yield expectations must be tempered with caution.
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.