Section 8 Fair Market Rent (FMR) for ZIP 66851 - 2027

FY 2027 Fair Market Rent Rates

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

ZIP code 66851, located in Kansas, represents a region where housing affordability and rental market dynamics play a significant role in real estate investment decisions.

• The Fair Market Rent (FMR) for the metro area for fiscal year 2026 is set at $950. This figure serves as a benchmark for rental rates and reflects the average monthly rent that a household would pay for a standard unit.
• The actual market rent, according to the latest Census American Community Survey (ACS) data, stands at $832. This indicates that the current market conditions are slightly below the FMR, suggesting potential for modest increases in rental rates as the market adjusts.
• The median home value in ZIP 66851 is $60,977. This relatively low value points to a market where property acquisition can be cost-effective, but also implies that the area may have lower property appreciation compared to more affluent regions.
• Renters make up 32.6% of the population in this area. This substantial share of renters highlights the ongoing demand for affordable rental properties, making it a viable market for landlords and small-portfolio investors.
• The median income for residents is $48,162. This level of income supports the current rental market dynamics and suggests that rental rates should remain stable and aligned with the financial capabilities of the local population.
• The data on days on market (DOM) for rentals is currently N/A. However, this could imply a steady rental market where properties are typically occupied promptly upon becoming available.

Investors considering ZIP 66851 should recognize the balance between affordability and demand. With a median home value under $61,000 and a strong renter base, there is a solid foundation for rental investments. The gap between the FMR and the actual market rent provides a window for growth, while the median income ensures that the local economy can sustain these rental rates. Although the exact days on market for rentals is not available, the overall context suggests a market that is both stable and ripe for those willing to invest in affordable housing solutions.

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.