Location: Jewell County, KS | Metro: Jewell County, KS
| Unit Size | Monthly FMR |
|---|---|
| Studio | $720 |
| 1 Bedroom | $770 |
| 2 Bedrooms | $970 |
| 3 Bedrooms | $1,230 |
| 4 Bedrooms | $1,440 |
| 5 Bedrooms | $1,670 |
| 6 Bedrooms | $1,870 |
| 7 Bedrooms | $2,020 |
| 8 Bedrooms | $2,121 |
U.S. Census Bureau data (2024)
Skeptical investors considering ZIP 66963 might question whether the Fair Market Rent (FMR) of $900 can cover the mortgage on a typical home. Unfortunately, specific data on the average home price in ZIP 66963 is currently unavailable. However, understanding the local real estate market is crucial for assessing mortgage coverage.
The rental demand at 58.4% raises another concern. This percentage indicates that nearly 60% of households in ZIP 66963 are renters. While this suggests a substantial market for rental properties, it does not guarantee profitability. To further evaluate this, we need to consider the vacancy rates and the competition from other rental properties. The provided data does not include these metrics, but a 58.4% rental demand still presents a sizeable opportunity for landlords.
Regarding the pace of Housing Choice Vouchers relative to market rents, HUD calculates Fair Market Rents (FMRs) to reflect median rents for a given area. ZIP 66963 falls under the jurisdiction of these calculations, which aim to ensure that voucher holders can access a broad range of housing options. However, the data does not specify if the FMRs for ZIP 66963 will precisely match the rising market rents. It's important to monitor both FMR adjustments and local rental trends to anticipate any potential gaps.
In summary, while specific figures for home prices and vacancy rates are missing, the existing data shows a significant rental market in ZIP 66963. Landlords should closely follow updates on FMRs and local rental prices to ensure that their investments remain viable.
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.