Location: Republic County, KS | Metro: Jewell County, KS
| Unit Size | Monthly FMR |
|---|---|
| Studio | $710 |
| 1 Bedroom | $770 |
| 2 Bedrooms | $960 |
| 3 Bedrooms | $1,150 |
| 4 Bedrooms | $1,420 |
| 5 Bedrooms | $1,647 |
| 6 Bedrooms | $1,845 |
| 7 Bedrooms | $1,993 |
| 8 Bedrooms | $2,093 |
U.S. Census Bureau data (2024)
29.6% of residents in ZIP code 66949 are renters, indicating a significant demand for rental properties. This demand is met with an average market rent of $557, according to Census ACS data, which is notably lower than the Fair Market Rent (FMR) set at $880 for the metro area in fiscal year 2026. The difference between these two figures suggests a potential opportunity for landlords to either increase their rents closer to the FMR or to offer more affordable options that could attract a larger tenant pool.
$100,007 is the median home value in this ZIP code, reflecting the overall housing market's stability. However, when considering the median income of $46,250, it becomes evident that affordability can be a challenge for many residents. Landlords should take note of this economic context, as it influences both the ability of tenants to pay higher rents and the competition from homeowners who might be looking to rent out their properties due to financial constraints.
The lack of specific data on days on market (DOM) and the percentage of price-cut share indicates that there might not be enough recent sales activity to provide a comprehensive picture of the housing market's liquidity and pricing adjustments. Despite this, the existing data points towards a stable but potentially competitive rental market. Given the discrepancy between market rent and FMR, landlords in 66949 have a strategic advantage if they can position their properties to fill the gap between affordability and fair market rates.
Section 8 verdict: ZIP code 66949 presents a viable market for Section 8 participation, with the potential to secure stable tenancy and achieve rents reflective of the $880 FMR while addressing the affordability concerns of the 29.6% renter population.
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.