Section 8 Fair Market Rent (FMR) for ZIP 66859 - 2027
Location: Morris County, KS | Metro: Marion County, KS
FY 2027 Fair Market Rent Rates
| Unit Size |
Monthly FMR |
| Studio | $710 |
| 1 Bedroom | $740 |
| 2 Bedrooms | $960 |
| 3 Bedrooms | $1,220 |
| 4 Bedrooms | $1,290 |
| 5 Bedrooms | $1,496 |
| 6 Bedrooms | $1,676 |
| 7 Bedrooms | $1,810 |
| 8 Bedrooms | $1,901 |
Demographics & Housing Statistics
U.S. Census Bureau data (2024)
Median Household Income
$80,000
To determine if you should buy in ZIP code 66859 for Section 8 purposes, follow this decision tree:
- Does FMR $940 (metro FY 2026) clear debt service on a property?
- If yes: Proceed to the next question.
- If no: Do not invest in this area for Section 8 purposes. The Fair Market Rent (FMR) does not cover the cost of owning the property, making it unprofitable.
- Is market rent above, at, or below FMR?
- If market rent is above FMR: Consider other factors before making a decision, as the higher market rent can provide additional income beyond what is covered by the Section 8 program.
- If market rent is at or below FMR: This means that the rental income will closely match the FMR, which is crucial for Section 8 eligibility. Move to the next question.
- Are 21.2% renters + N/A-day DOM enough demand?
- If the days on market (DOM) is low: This suggests strong demand for rentals in the area, which can be beneficial for Section 8 properties. Given the 21.2% of residents who are renters, there is a reasonable tenant pool.
- If the DOM is high: This indicates weak demand for rentals, which could make it difficult to find tenants even with a 21.2% rental rate. It depends on your ability to manage the property and attract tenants despite the high DOM.
Summary: If the FMR of $940 covers the debt service and market rents are at or below FMR, then consider investing in ZIP 66859. However, the strength of demand, indicated by the DOM, is critical. With 21.2% of the population renting, a low DOM would support a positive investment decision. A high DOM suggests caution, as finding tenants might be challenging despite the FMR covering costs.
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.