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 | $860 |
| 1 Bedroom | $890 |
| 2 Bedrooms | $1,170 |
| 3 Bedrooms | $1,390 |
| 4 Bedrooms | $1,850 |
| 5 Bedrooms | $2,146 |
| 6 Bedrooms | $2,404 |
| 7 Bedrooms | $2,596 |
| 8 Bedrooms | $2,726 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,390 | $190,634 | 0.73% | D |
U.S. Census Bureau data (2024)
ZIP 66872, located in the Morris County, KS metro area, can serve as a cash-flow anchor within a Section 8 portfolio strategy. The Federal Market Rent (FMR) for ZIP 66872 in fiscal year 2024 is set at $880, which is significantly higher than the local market rent of $746. This creates a positive spread of $134 per unit, allowing landlords to generate steady cash flow above the typical market rates.
The median home value in ZIP 66872 stands at $168,083, making it an affordable location for property acquisition. This low entry cost combined with the higher FMR payments ensures that landlords can maintain profitability even when dealing with the often slower payment cycles associated with Section 8 programs.
While there is no specific percentage given for the price-cut share or days on market (DOM), these metrics are typically less relevant for cash-flow anchors compared to other investment strategies. Cash-flow anchors focus primarily on ensuring a consistent stream of income, which ZIP 66872 provides through its favorable rent-to-market ratio.
The renter share in ZIP 66872 is 22.5%, indicating a moderate demand for rental properties. However, the key metric here is the median income, which is $58,906. This suggests that residents have sufficient financial stability to meet the requirements for Section 8 eligibility, thereby supporting the cash-flow anchor strategy.
In conclusion, ZIP 66872 is best suited as a cash-flow anchor due to the substantial difference between the FMR and local market rents. Landlords can rely on the guaranteed income from the Section 8 program while also benefiting from lower property acquisition costs.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.