Location: Neosho County, KS | Metro: Bourbon County, KS
| Unit Size | Monthly FMR |
|---|---|
| Studio | $790 |
| 1 Bedroom | $800 |
| 2 Bedrooms | $960 |
| 3 Bedrooms | $1,290 |
| 4 Bedrooms | $1,300 |
| 5 Bedrooms | $1,508 |
| 6 Bedrooms | $1,689 |
| 7 Bedrooms | $1,824 |
| 8 Bedrooms | $1,915 |
U.S. Census Bureau data (2024)
The rental landscape in ZIP code 66775, home to a population of 224 with 10.0% being renters, is shaped significantly by the financial realities faced by local households. The median income stands at $64,063, which provides a foundational metric for understanding the economic capacity of residents.
Market rate rents are currently unavailable, suggesting either limited data or an underdeveloped rental sector. However, the comparison between median income and the Fair Market Rent (FMR) set at $880 for the metro area in fiscal year 2026 offers insight into the affordability gap. This gap indicates that even with the median income, renters might struggle to find affordable housing without assistance.
The voucher payment standard of $880 aligns closely with the FMR, making it a reliable benchmark for what subsidized renters can afford. Given the limited number of renters and the potential difficulty in finding housing that fits their budget, landlords have a unique opportunity to cater to this niche market.
Takeaway: Landlords in ZIP 66775 should consider the voucher program as a viable strategy. With a small renter population and a median income that may not cover market rates, securing tenants through vouchers can ensure steady, government-backed payments. This approach helps mitigate the risk associated with cash-paying tenants who might face financial instability given the local economic conditions. Additionally, focusing on voucher tenants could reduce competition, as fewer landlords might be willing to participate in the program. Overall, embracing the voucher system can lead to a more stable and predictable rental income stream.
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.