Section 8 Fair Market Rent (FMR) for ZIP 66962 - 2027

Location: Washington County, KS | Metro: Clay County, KS

FY 2027 Fair Market Rent Rates

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

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

302

Median Household Income

$74,583

Housing Units

149

Renter Percentage

21.1%

Occupancy Rate

82.6%

Renter Occupied

The ZIP code 66962, located in Kansas, is a burgeoning market for real estate investors, particularly those interested in the dynamics of rental properties and the potential for capital appreciation. The area offers a mix of urban convenience and suburban tranquility, making it attractive for various demographics.

The Fair Market Rent (FMR) for a two-bedroom apartment in the metro area for fiscal year 2026 is set at $880, indicating a robust rental demand that landlords can leverage.
The market rent, as per Census ACS data, stands at $585 for similar units, suggesting a significant upside potential for those who can offer quality rentals above the average.
The median home value is not available, which might indicate a lack of recent sales data, but the strong rental market compensates for this gap in information.
Renters make up 21.1% of the population, showing a notable segment of the market that relies on rental properties, which is crucial for landlords.
The median income in the area is $74,583, providing insight into the financial stability and spending power of potential tenants and homeowners.
The Days on Market (DOM) data is not available, but given the rental demand and stable incomes, it's reasonable to expect quick turnover for well-managed properties.

In summary, ZIP 66962 presents a viable investment opportunity for landlords and small-portfolio investors due to the favorable rental rates and the financial health of its residents. The gap between the actual market rent and the FMR suggests room for increasing rents on high-quality properties, while the renter share indicates a consistent demand for rental housing. Although the median home value and DOM data are missing, the overall economic conditions support the notion that timely and efficient property management can lead to successful investments in this area.

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.