Location: Washington County, KS | Metro: Washington County, KS
| Unit Size | Monthly FMR |
|---|---|
| Studio | $780 |
| 1 Bedroom | $780 |
| 2 Bedrooms | $960 |
| 3 Bedrooms | $1,330 |
| 4 Bedrooms | $1,360 |
| 5 Bedrooms | $1,578 |
| 6 Bedrooms | $1,767 |
| 7 Bedrooms | $1,908 |
| 8 Bedrooms | $2,003 |
U.S. Census Bureau data (2024)
A skeptical investor might question whether the Fair Market Rent (FMR) of $880 for the fiscal year 2026 will be sufficient to cover the mortgage on a home in ZIP 66955. Unfortunately, the data does not provide a specific median home value for this ZIP code for the fiscal year 2026. However, given the demographic information, the area may not have a particularly high home value, which could make it feasible for the FMR to cover mortgage costs.
The second concern is whether there is enough renter demand at 0.0%. The search results indicate that ZIP 66955 has a relatively small population of 107 residents and 42 households. The average number of people per household is 2.55, and the median age is 55.5 years, which is notably older than both the state and national averages. This demographic suggests a potentially lower demand for rentals, especially if the population is predominantly composed of homeowners or retirees. However, the presence of rental listings on Zillow and Trulia indicates some level of demand, even if it's modest.
Lastly, an investor might wonder if voucher usage will keep pace with market rents. The data does not specify the exact number of voucher users or their impact on the rental market in ZIP 66955. Given the small population size, it's possible that the number of voucher users is also limited. However, the federal government typically adjusts voucher amounts annually to reflect changes in market rents, so while the specific impact on ZIP 66955 isn't clear, it's reasonable to expect that vouchers will maintain a certain level of coverage.
In summary, while the data is somewhat limited, the FMR of $880 may be adequate for covering mortgage costs, considering the likely modest home values. The rental demand appears to be present but modest due to the small and aging population. Lastly, voucher usage is uncertain but generally expected to keep pace with market rents, though the exact impact on ZIP 66955 remains unclear.
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.