Location: Crawford 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 | $780 |
| 1 Bedroom | $790 |
| 2 Bedrooms | $1,030 |
| 3 Bedrooms | $1,430 |
| 4 Bedrooms | $1,720 |
| 5 Bedrooms | $1,995 |
| 6 Bedrooms | $2,234 |
| 7 Bedrooms | $2,413 |
| 8 Bedrooms | $2,534 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $790 | $49,842 | 1.59% | A+ |
| 2BR | $1,030 | $81,268 | 1.27% | A |
| 3BR | $1,430 | $172,034 | 0.83% | C |
| 4BR | $1,720 | $259,295 | 0.66% | D |
| 5BR | $1,995 | $357,081 | 0.56% | F |
U.S. Census Bureau data (2024)
The market in ZIP 66762, encompassing Pittsburg, KS, reveals a dynamic equilibrium between supply and demand. The Fair Market Rent (FMR) stands at $930 for the metro area fiscal year 2026, while the actual market rent, measured by ZORI (Zillow Observed Rent Index), is slightly higher at $962. This suggests that the rental market is marginally above fair market levels, indicating a slight tilt towards demand.
A key indicator of this balance is the low price-cut share of 0.2%, which implies that landlords are not frequently lowering their rents to attract tenants. Furthermore, the days on market (DOM) for homes is relatively high at 59 days, suggesting a slower pace in the sales market, possibly due to a more balanced supply-demand ratio or other factors influencing the decision-making process of buyers.
The median home value in the area is $132,916, which is a significant figure for understanding the overall affordability and attractiveness of the housing stock. A lower median home value can be indicative of a more accessible market for first-time buyers and those seeking affordable housing options.
The 46.7% renter share is particularly noteworthy. This substantial portion of renters indicates a considerable long-term housing pressure, as a large segment of the population relies on rental properties rather than owning homes. For landlords and small-portfolio investors, this signals a consistent demand for rental units, which can provide stable income streams. However, it also suggests that there could be a challenge in converting renters into homeowners, potentially due to financial constraints or other barriers to homeownership.
In summary, ZIP 66762 presents a market where demand is steady but not overwhelming, with a significant number of residents opting for rentals over home purchases. This creates an environment that is favorable for rental investments, given the high renter share and moderate rental rates. Landlords should be aware of the slower sales market, as indicated by the DOM, but can take comfort in the strong rental sector.
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.