Section 8 Fair Market Rent (FMR) for ZIP 66755 - 2027

Location: Bourbon County, KS | Metro: Allen County, KS

Investment Score for ZIP 66755

N/A

Monthly Rent (2BR)

$960

Median Price (2BR)

$N/A

1% Rule

Annual Yield

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$790
1 Bedroom	$810
2 Bedrooms	$960
3 Bedrooms	$1,300
4 Bedrooms	$1,420
5 Bedrooms	$1,647
6 Bedrooms	$1,845
7 Bedrooms	$1,993
8 Bedrooms	$2,093

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
3BR	$1,300	$194,774	0.67%	D

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

890

Median Household Income

$74,417

Housing Units

498

Renter Percentage

13.9%

Occupancy Rate

72.5%

Renter Occupied

The economics of Section 8 housing in ZIP code 66755 are defined by the SAFMR (Small Area Fair Market Rent) for a two-bedroom apartment, which is set at $880 per month for fiscal year 2026. This figure represents the maximum amount that a landlord can receive from the government for renting out a unit under the Section 8 program in this specific ZIP code. However, it's important to understand that the actual reimbursement a landlord receives is influenced by both the tenant's portion of the rent and any utility allowances.

The local market rent in ZIP 66755, according to Census ACS data, averages $411 per month for a two-bedroom apartment. This suggests that the SAFMR is significantly higher than the average local market rent, providing a potential economic advantage for landlords participating in the Section 8 program.

To break down the reimbursement process:

Tenant Portion: Tenants typically pay 30% of their adjusted income toward rent. If a tenant's adjusted income is $1,000 per month, they would pay $300 toward rent.
Voucher Payment: The government would then cover the difference between the tenant's payment and the SAFMR. In this case, if the tenant pays $300, the government would reimburse the landlord $580 ($880 - $300).
Utility Allowances: Additional utility allowances are also provided, but these vary based on the number of bedrooms and the specific location. For ZIP 66755, the allowance for a two-bedroom apartment is $150 per month, bringing the total reimbursement to $730 ($580 + $150).

This means that the landlord receives $730 per month from the government plus the $300 paid by the tenant, totaling $1,030. Since the local market rent is $411, the landlord is effectively receiving $619 more than the average market rent when factoring in the government subsidy and the tenant's contribution.

The typical reimbursement gap or surplus for a two-bedroom apartment in ZIP 66755 is a surplus of $619 per month over the local market rent. This surplus makes Section 8 a financially attractive option for landlords and small-portfolio investors in this ZIP code, especially given the higher SAFMR compared to the local average.

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.