Location: Bourbon County, KS | Metro: Kansas City, MO-KS HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $970 |
| 1 Bedroom | $1,070 |
| 2 Bedrooms | $1,400 |
| 3 Bedrooms | $1,670 |
| 4 Bedrooms | $2,100 |
| 5 Bedrooms | $2,436 |
| 6 Bedrooms | $2,728 |
| 7 Bedrooms | $2,946 |
| 8 Bedrooms | $3,093 |
U.S. Census Bureau data (2024)
The ZIP code 66754 presents several challenges for landlords considering Section 8 investments. Tenant turnover is a significant concern, with the market rent set at $1,050, matching the Fair Market Rent (FMR) for FY 2024. This parity can lead to increased competition for tenants, making it difficult to maintain occupancy levels without proactive management strategies.
Vacancy exposure is another critical issue. The average number of days on market (DOM) for rental properties in this area is currently unavailable, which makes it hard to predict how long a unit might remain vacant. High vacancy rates can be financially damaging, especially when combined with the other risks present in this market.
Deferred maintenance is also a notable risk factor. While the typical home value data is missing, the median household income of $43,750 suggests that residents may have limited funds available for repairs and maintenance, potentially leading to higher costs for landlords. Ensuring that properties are well-maintained can help attract and retain tenants but requires careful financial planning.
However, these risks must be weighed against the substantial 17.2% renter share in the area. A high proportion of renters typically translates into greater demand for housing vouchers, which can stabilize cash flow and reduce the impact of vacancy exposure. Section 8 tenants provide a reliable source of income, as their rent payments are subsidized and managed through the government program.
In conclusion, despite the potential for high tenant turnover and the need for vigilant maintenance practices, the strong presence of renters in ZIP 66754 offers a counterbalance to these risks. Therefore, the overall risk for a first-time Section 8 landlord in this area is moderate.
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.