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 | $710 |
| 1 Bedroom | $790 |
| 2 Bedrooms | $960 |
| 3 Bedrooms | $1,160 |
| 4 Bedrooms | $1,400 |
| 5 Bedrooms | $1,624 |
| 6 Bedrooms | $1,819 |
| 7 Bedrooms | $1,965 |
| 8 Bedrooms | $2,063 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $960 | $90,136 | 1.07% | B |
| 3BR | $1,160 | $152,972 | 0.76% | D |
U.S. Census Bureau data (2024)
The classification of ZIP 66938, Clyde, KS, on the axes of yield and stability reveals a market that leans towards steady cash flow rather than high-yield/low-stability. The primary driver of this assessment is the Federal Market Rent (FMR) figure of $910 for the metro area in fiscal year 2026, which contrasts with the local market rent of $672. This suggests that while there is a subsidy available through the Section 8 program, the gap between the FMR and market rent is relatively narrow, indicating less potential for speculative investment gains.
The median home value of $129,124 in ZIP 66938 provides a baseline for property costs. Given the lower market rent compared to the FMR, landlords can expect a moderate return on investment without the high-risk profile associated with areas where market rents are significantly below the FMR. The rental rate in the area is also indicative of stability, with 13.2% of residents being renters. While this percentage is not exceptionally high, it does suggest a consistent demand for rental properties.
The average household income of $55,284 further supports the notion of stability. Higher incomes generally correlate with a more reliable tenant pool, capable of maintaining regular rental payments. The lack of data on days on market (DOM) could indicate either a well-balanced market or an underdeveloped real estate sector, but given the other metrics, it's reasonable to assume a stable environment for rentals.
In conclusion, ZIP 66938 is best classified as a steady-cashflow zone. The modest difference between the FMR ($910) and the market rent ($672), combined with the median home value ($129,124) and average income ($55,284), supports a strategy focused on long-term, consistent returns rather than short-term flips or high-risk investments.
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.