Location: Cowley County, KS | Metro: Chautauqua County, KS
| Unit Size | Monthly FMR |
|---|---|
| Studio | $710 |
| 1 Bedroom | $730 |
| 2 Bedrooms | $960 |
| 3 Bedrooms | $1,170 |
| 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)
The ZIP code 67024 presents several challenges for potential Section 8 landlords. First, tenant turnover is a significant concern due to the discrepancy between the market rent of $571 and the Federal Market Rent (FMR) of $880 for fiscal year 2026 in the metropolitan area. This gap can lead to higher turnover rates as tenants might seek more affordable housing options outside of Section 8.
Vacancy exposure is another risk factor. With the days on market (DOM) being listed as N/A, it's difficult to predict how long it will take to fill vacancies. This uncertainty can impact cash flow and financial planning for landlords.
Deferred maintenance exposure also poses a threat. The typical home value is not available, but the median income of $34,231 suggests that residents may have limited funds to cover unexpected repairs or maintenance, which can be costly for property owners.
However, these risks must be weighed against the high renter share of 17.4%. A higher proportion of renters typically translates into greater demand for housing vouchers, which can stabilize occupancy rates and reduce the likelihood of extended vacancy periods.
In conclusion, despite the potential issues with tenant turnover and vacancy exposure, the strong presence of renters in ZIP 67024 creates a balanced environment that supports a moderate level of risk for a first-time Section 8 landlord.
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.