Location: Cowley County, KS | Metro: Wichita, KS HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $780 |
| 1 Bedroom | $820 |
| 2 Bedrooms | $1,060 |
| 3 Bedrooms | $1,400 |
| 4 Bedrooms | $1,620 |
| 5 Bedrooms | $1,879 |
| 6 Bedrooms | $2,104 |
| 7 Bedrooms | $2,272 |
| 8 Bedrooms | $2,386 |
U.S. Census Bureau data (2024)
ZIP code 67008, located within Cowley County, KS, stands out as a value pocket within its metro area based on the provided figures. The Fair Market Rent (FMR) for ZIP 67008 in fiscal year 2024 is set at $880, which is notably lower than the market rent of $1,000. This discrepancy indicates that properties in this ZIP code are priced below what the market would naturally dictate, suggesting a potential opportunity for landlords and investors seeking affordable entry points.
The renter share in ZIP 67008 is 14.4%, which is a significant percentage compared to the typical ZIP codes in Cowley County, KS. A higher renter share, especially when paired with below-market rental prices, can be indicative of a Section 8 sweet spot. However, the lack of available data on home values prevents a definitive conclusion regarding the overall attractiveness of the area for Section 8 housing. In general, areas with both low rental costs and a high proportion of renters are favorable for Section 8 properties, as they can attract tenants more easily.
To further assess the classification of ZIP 67008 as a value pocket, mid-tier neighborhood, or premium sub-market, it's crucial to consider additional factors such as the availability of Section 8 vouchers, local economic conditions, and the demand for rental properties. Given the current figures, it appears that 67008 offers an opportunity for those looking to invest in properties that cater to lower-income renters without the risk of significantly undervalued assets.
The fact that the FMR is $880 while the market rent is $1,000 suggests that there is a gap between the government-set rent standards and the actual market rates. This gap can benefit landlords who are willing to accept Section 8 tenants, as they can still achieve rents closer to the market rate while receiving subsidies that help cover the difference.
In summary, ZIP 67008 is best characterized as a value pocket within the Cowley County, KS metro, given its below-market FMR and substantial renter share. While the absence of home value data limits a complete analysis, the existing figures indicate a promising area for Section 8 investments.
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.