Location: Pratt County, KS | Metro: Pratt County, KS
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $710 |
| 1 Bedroom | $810 |
| 2 Bedrooms | $960 |
| 3 Bedrooms | $1,330 |
| 4 Bedrooms | $1,390 |
| 5 Bedrooms | $1,612 |
| 6 Bedrooms | $1,805 |
| 7 Bedrooms | $1,949 |
| 8 Bedrooms | $2,046 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $960 | $89,600 | 1.07% | B |
| 3BR | $1,330 | $153,562 | 0.87% | C |
| 4BR | $1,390 | $192,344 | 0.72% | D |
| 5BR | $1,612 | $268,119 | 0.6% | D |
U.S. Census Bureau data (2024)
The ZIP code 67124, located in Pratt, Kansas, presents an interesting scenario for both renters and landlords. The median income for households in this area stands at $66,905 according to recent Census data. In comparison, the market rate for rent is $798 per month. This places a significant financial burden on the average renter, as housing costs represent a substantial portion of their income.
Fair Market Rent (FMR) for the metro area, as determined for fiscal year 2026, is set at $880. This means that the actual market rate of $798 is below the voucher payment standard, which could be advantageous for landlords who choose to accept Section 8 vouchers. The gap between the median income and the rent suggests that many residents might struggle to pay rent without assistance.
With 27.4% of the 7,868 population being renters, there is a notable segment of the community that relies on rental housing. However, the affordability gap implies that landlords face stiff competition when it comes to attracting tenants willing to pay the market rate. Many potential renters may seek lower-cost options or require subsidies to meet their housing needs.
Landlords in ZIP 67124 should consider the benefits of accepting Section 8 vouchers. While the voucher payment standard is higher at $880 compared to the current market rate of $798, it ensures a stable and timely source of income. Moreover, it opens up the possibility of renting to a broader pool of tenants who might otherwise be unable to afford the local rent due to the high cost relative to their income.
The takeaway for landlords is that while cash-paying tenants are desirable, the economic landscape of ZIP 67124 may necessitate a flexible approach to tenant selection. Accepting Section 8 vouchers can provide a reliable stream of income and help mitigate the risks associated with vacancy rates in a competitive rental market where affordability is a key concern for many households.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.