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 | $740 |
| 1 Bedroom | $740 |
| 2 Bedrooms | $970 |
| 3 Bedrooms | $1,340 |
| 4 Bedrooms | $1,620 |
| 5 Bedrooms | $1,879 |
| 6 Bedrooms | $2,104 |
| 7 Bedrooms | $2,272 |
| 8 Bedrooms | $2,386 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $970 | $83,371 | 1.16% | B |
| 3BR | $1,340 | $175,713 | 0.76% | D |
| 4BR | $1,620 | $256,943 | 0.63% | D |
U.S. Census Bureau data (2024)
The analysis for the Section 8 program in ZIP code 66743, which encompasses Girard, Kansas, reveals a significant gap between the Fair Market Rent (FMR) and the actual market rent. The FMR for the metro area for fiscal year 2026 is set at $890, whereas the Census ACS data indicates a market rent of $837. This results in a gap of $53, representing an increase of approximately 6.3% over the market rate.
Given that the FMR exceeds the market rent, properties participating in the Section 8 program can be seen as a yield play for landlords and small-portfolio investors. Voucher tenants provide a guaranteed income stream that aligns with the higher FMR, thereby offering a potential profit margin above the typical rental rates in the area.
In the context of Girard, KS, where 34.3% of residents are renters and the median home value stands at $151,236, the Section 8 program presents a stable investment opportunity. The median income in the area is $55,515, suggesting that many residents rely on assistance to afford housing. Landlords who accept voucher tenants benefit from a consistent rental payment that is pegged to the FMR, thus mitigating the risk of non-payment and ensuring a steady cash flow.
However, it's important to note that accepting voucher tenants also comes with certain administrative burdens and regulatory requirements. These include adherence to HUD standards and potential inspections, which can affect the overall management of the property. Despite these considerations, the alignment of FMR with the slightly higher end of the local rental market makes the Section 8 program a viable option for generating above-market yields in Girard, KS.
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.