Location: Cherokee 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 | $740 |
| 1 Bedroom | $740 |
| 2 Bedrooms | $970 |
| 3 Bedrooms | $1,280 |
| 4 Bedrooms | $1,280 |
| 5 Bedrooms | $1,485 |
| 6 Bedrooms | $1,663 |
| 7 Bedrooms | $1,796 |
| 8 Bedrooms | $1,886 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,280 | $186,398 | 0.69% | D |
U.S. Census Bureau data (2024)
The Federal Market Rent (FMR) for ZIP code 66770 in fiscal year 2026 is set at $900. This figure represents the payment standard landlords can expect to receive from the government for participating in the Section 8 program. It's important to note that this is not the rent you charge your tenants; rather, it's the maximum amount the government will pay towards a tenant's rent.
While the local median rent for ZIP 66770 is not available, we can use the FMR to gauge the market conditions. The 18.7% renter share indicates that nearly one in five residents in this area are likely to be renters, suggesting a steady demand for rental properties. This demand is crucial for landlords, as it ensures a consistent stream of potential tenants who might qualify for the Section 8 program.
When acquiring a property in ZIP 66770, the median home value is approximately $170,718. This figure should be considered alongside the FMR when deciding whether to participate in Section 8. The combination of a manageable property acquisition cost and the guaranteed government payments makes Section 8 an attractive option for landlords looking to enter this market.
Before committing to a Section 8 rental property, ensure that the unit meets all necessary quality standards as defined by HUD. These include basic safety and health requirements, which must be met before and during tenancy. Failure to comply with these standards can result in reduced payments or even termination from the program.
In summary, the FMR of $900 guarantees a certain level of income from the government, while the 18.7% renter share suggests strong demand for rental units. With a median home value of $170,718, ZIP 66770 offers a balanced opportunity for investment. However, landlords must verify that their property meets HUD's quality standards to avoid any issues.
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.