Section 8 Fair Market Rent (FMR) for ZIP 66935 - 2027

Location: Republic County, KS | Metro: Cloud County, KS

Investment Score for ZIP 66935

A+

Monthly Rent (2BR)

$960

Median Price (2BR)

$58,287

1% Rule

1.65%

Annual Yield

19.76%

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$710
1 Bedroom	$880
2 Bedrooms	$960
3 Bedrooms	$1,220
4 Bedrooms	$1,610
5 Bedrooms	$1,868
6 Bedrooms	$2,092
7 Bedrooms	$2,259
8 Bedrooms	$2,372

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
2BR	$960	$58,287	1.65%	A+
3BR	$1,220	$126,634	0.96%	C
4BR	$1,610	$182,873	0.88%	C

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

2,413

Median Household Income

$56,014

Housing Units

1,341

Renter Percentage

22.6%

Occupancy Rate

73.6%

Renter Occupied

223

The ZIP code 66935, encompassing Belleville, Kansas, presents a unique blend of rural charm and suburban convenience, offering investors a stable yet growing market. Nestled in the heart of Johnson County, it benefits from proximity to larger urban centers while maintaining a quieter, more residential atmosphere.

Fair Market Rent (FMR): $880 (Metro FY 2026) - The FMR for ZIP 66935 indicates that the average rental price for a two-bedroom apartment should be around $880 per month, reflecting a steady demand for affordable housing.
Market Rent: $612 (Census ACS) - Current market rents are significantly lower at $612 per month for a similar unit, suggesting potential for rental price increases to align with the FMR.
Median Home Value: $99,460 - With a median home value of $99,460, the area offers a mix of older homes and newer developments, making it attractive for first-time buyers and renters alike.
Renter Share: 22.6% - Nearly a quarter of the residents are renters, indicating a healthy market for rental properties and potential opportunities for growth.
Median Income: $56,014 - Residents have a median income of $56,014, which supports the affordability of current rental rates and suggests a stable tenant base.

Investors looking to enter the ZIP 66935 market can expect a balanced environment with room for rental price adjustments towards the FMR. The combination of a moderate median home value and a significant renter population makes it a promising area for real estate investments, particularly in multi-family units or single-family rentals. The median income level also provides assurance regarding the financial stability of tenants, reducing the risk of default. Overall, the market in ZIP 66935 offers a solid foundation for investment, with opportunities for both appreciation and rental income growth.

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.