Location: Coffey County, KS | Metro: Topeka, KS MSA
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 | $750 |
| 1 Bedroom | $780 |
| 2 Bedrooms | $1,020 |
| 3 Bedrooms | $1,260 |
| 4 Bedrooms | $1,490 |
| 5 Bedrooms | $1,728 |
| 6 Bedrooms | $1,935 |
| 7 Bedrooms | $2,090 |
| 8 Bedrooms | $2,195 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,020 | $145,103 | 0.7% | D |
| 3BR | $1,260 | $227,034 | 0.55% | F |
U.S. Census Bureau data (2024)
The classification of ZIP code 66856 in Kansas hinges on the analysis of its yield and stability metrics. The Fair Market Rent (FMR) for the area in fiscal year 2024 is set at $880, which is notably lower than the market rent of $920. This suggests that while there is potential for higher rental yields by optimizing property management and marketing, the actual realized yield will be closer to the FMR figure.
The median home value in ZIP 66856 stands at $213,208, indicating a moderate investment cost relative to other areas. However, the percentage of renters in the area is relatively low at 7.5%, which could signal a less active rental market. The average daily days on market (DOM) data is not available, but the median household income of $75,667 provides some context regarding the economic health of the area and the ability of residents to pay rent.
Given these factors, ZIP 66856 does not fit the profile of a high-yield/low-stability flip-style market. Instead, it leans more towards a steady-cashflow zone. The key drivers for this classification are the relatively low percentage of renters and the moderate median home value. While the rental yield is decent, the lower renter population suggests a more stable but less dynamic market. Investors should focus on long-term strategies and consider the local economic conditions and income levels when setting rental prices and managing properties.
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.