Location: Kingman County, KS | Metro: Kingman County, KS
| Unit Size | Monthly FMR |
|---|---|
| Studio | $990 |
| 1 Bedroom | $1,030 |
| 2 Bedrooms | $1,350 |
| 3 Bedrooms | $1,870 |
| 4 Bedrooms | $2,260 |
| 5 Bedrooms | $2,622 |
| 6 Bedrooms | $2,937 |
| 7 Bedrooms | $3,172 |
| 8 Bedrooms | $3,331 |
U.S. Census Bureau data (2024)
The Section 8 thesis for ZIP code 67111 is centered around the discrepancy between the Fair Market Rent (FMR) and the actual market rent. For fiscal year 2026, the FMR stands at $1,230, while the market rent reported by the Census ACS is $1,331. This creates a gap of $101, which translates to approximately 8.3% of the market rent.
Given that the FMR is lower than the market rent, landlords and small-portfolio investors should be aware of the potential costs associated with housing voucher tenants. The difference means that landlords will receive less rent per unit compared to what they could charge in the open market. Specifically, they would lose $101 per month, or $1,212 annually, per unit if they only accept the FMR set by the government.
This situation does not favor a yield play strategy, where the goal is to maximize rental income. Instead, it highlights the financial trade-offs landlords must consider when deciding to participate in the Section 8 program. The decision to accept voucher tenants should be made after careful consideration of the local rental market dynamics and the broader economic context.
In ZIP 67111, 25.9% of residents are renters, indicating a significant portion of the population relies on rental properties. Additionally, the median household income is $96,000, suggesting that many residents have the financial capacity to afford higher rents. These factors contribute to the higher market rent observed in the area.
Landlords must weigh the benefits of guaranteed, consistent rental income from voucher holders against the potential for higher yields from market-rate tenants. It's also important to note that the median home value data is not available, which might indicate a predominantly rental-focused market or a lack of comprehensive housing data.
To summarize, the gap between FMR and market rent in ZIP 67111 is $101, or 8.3%. This makes it a less favorable environment for a yield play strategy, as landlords would be better off renting their units at market rates. However, participating in the Section 8 program can still be a viable option for those seeking stable, long-term tenancy.
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.