Location: Washington County, KS | Metro: Clay County, KS
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 | $760 |
| 2 Bedrooms | $960 |
| 3 Bedrooms | $1,300 |
| 4 Bedrooms | $1,320 |
| 5 Bedrooms | $1,531 |
| 6 Bedrooms | $1,715 |
| 7 Bedrooms | $1,852 |
| 8 Bedrooms | $1,945 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,300 | $158,544 | 0.82% | C |
U.S. Census Bureau data (2024)
The ZIP code 66937, located in Clifton, KS, presents several key considerations for landlords and small-portfolio investors. Let's address the most common objections with the available data.
Objection 1: Will Fair Market Rent (FMR) of $880 (metro FY 2026) cover the mortgage on a $141,176 home?
To determine whether the FMR will cover the mortgage, we need to calculate the potential monthly mortgage payment. Assuming a 30-year fixed-rate mortgage at an interest rate of 4%, the principal and interest payment on a $141,176 home would be approximately $675 per month. This means that the FMR of $880 could indeed cover the mortgage, leaving a buffer of around $205 for other expenses such as property taxes, insurance, and maintenance.
Objection 2: Is there enough renter demand at 14.8%?
The rental demand in ZIP 66937 is relatively low, at 14.8%. This percentage indicates that a smaller portion of the population is looking to rent rather than own. However, the low home-value-to-income ratio of 2.1 suggests that the area is very affordable, which can attract renters who find homeownership out of reach. While the data does not provide a complete picture of rental demand, the affordability of the area could support a steady stream of potential tenants.
Objection 3: Will vouchers keep pace with N/A market rents?
The data does not specify the current market rents in ZIP 66937, nor does it provide any information on how voucher amounts are trending relative to these rents. Without this information, it's difficult to assess whether vouchers will continue to be a viable option for covering rent costs. Landlords should monitor local rental trends and voucher distribution policies to ensure they remain competitive and financially sound.
In summary, while there are valid concerns regarding rental demand and voucher sufficiency, the FMR does appear sufficient to cover mortgage payments on a home priced at $141,176. For a comprehensive analysis, further investigation into local rental trends and voucher policies is recommended.
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.