Location: Morris County, KS | Metro: Geary 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 | $900 |
| 1 Bedroom | $950 |
| 2 Bedrooms | $1,200 |
| 3 Bedrooms | $1,590 |
| 4 Bedrooms | $1,700 |
| 5 Bedrooms | $1,972 |
| 6 Bedrooms | $2,209 |
| 7 Bedrooms | $2,386 |
| 8 Bedrooms | $2,505 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,590 | $217,980 | 0.73% | D |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 66834 in fiscal year 2024 is set at $940. This figure represents the maximum amount that the U.S. Department of Housing and Urban Development (HUD) will pay landlords who participate in the Section 8 program for a given unit. It's important to note that this is not the rent you can charge your tenants; it's the reimbursement rate from the government.
To put this into perspective, the average market rent in ZIP 66834, according to the latest Census American Community Survey (ACS), is $798. This means that the FMR is higher than the typical rent, which could be beneficial for landlords looking to cover their costs and potentially earn a bit more.
The rental share in ZIP 66834 stands at 24.9%, indicating that nearly one-quarter of the households are renters. This suggests a reasonable demand for rental properties, particularly those willing to accept Section 8 tenants. The local median household income is around $190,022, which is significantly higher than the typical income of Section 8 participants. However, this does not mean that the acquisition cost of properties in this area would be similar. The median home value and property taxes should be considered when determining the actual cost of acquiring a rental property.
If you're considering your first Section 8 rental in ZIP 66834, one crucial step is to verify the condition of the property against HUD’s Housing Quality Standards (HQS). These standards ensure that the property meets basic safety and habitability requirements. While the specifics can vary, some key areas to check include structural integrity, electrical systems, plumbing, heating, and pest control. Ensuring compliance with these standards is essential before signing up for the program, as failing to meet them can result in reduced payments or even termination from the Section 8 program.
In summary, the FMR of $940 provides a clear benchmark for potential earnings through the Section 8 program, while the local average rent of $798 shows that the FMR is above the market rate. With a 24.9% renter share, there is demand for rental units, and the median household income indicates that the area is economically stable. However, before making a final decision, it is imperative to confirm that your property meets the necessary HQS requirements to avoid any issues down the line.
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.