Location: Neosho County, KS | Metro: Cherokee County, KS HUD Metro FMR Area
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 | $1,310 |
| 4 Bedrooms | $1,520 |
| 5 Bedrooms | $1,763 |
| 6 Bedrooms | $1,975 |
| 7 Bedrooms | $2,133 |
| 8 Bedrooms | $2,240 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,310 | $195,889 | 0.67% | D |
U.S. Census Bureau data (2024)
The ZIP code 66753, located within the Neosho County, KS metro area, presents a unique profile when compared to typical ZIP codes in the same county. With a Fair Market Rent (FMR) of $880 for fiscal year 2026, it aligns closely with the broader metro average. However, its market rent stands at $761, which is lower than the FMR, indicating a potential value pocket for both landlords and small-portfolio investors.
The median home value in ZIP 66753 is $160,159. This figure suggests that the area is neither excessively expensive nor particularly cheap; rather, it represents a mid-tier neighborhood within the metro. The relatively low market rent compared to the FMR implies that there might be opportunities for rental properties to offer competitive rates while still maintaining profitability.
A notable aspect of ZIP 66753 is its 15.1% renter share. This percentage is higher than what might typically be expected in rural areas such as Neosho County, KS. High renter shares can be indicative of a greater demand for rental properties, potentially making it an attractive area for landlords looking to capitalize on this trend.
The combination of a slightly below-average market rent and a higher-than-typical renter share suggests that ZIP 66753 could be a sweet spot for Section 8 housing. It offers a balance between affordability and demand, which is beneficial for both tenants seeking affordable housing and landlords who want to secure stable, government-subsidized rental income.
In summary, ZIP 66753 appears to be a mid-tier neighborhood with characteristics of a value pocket due to its lower market rent and higher renter share. These factors make it a promising area for those interested in Section 8 real estate investments.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.