Location: Pratt County, KS | Metro: Barber County, KS
| Unit Size | Monthly FMR |
|---|---|
| Studio | $710 |
| 1 Bedroom | $800 |
| 2 Bedrooms | $960 |
| 3 Bedrooms | $1,320 |
| 4 Bedrooms | $1,390 |
| 5 Bedrooms | $1,612 |
| 6 Bedrooms | $1,805 |
| 7 Bedrooms | $1,949 |
| 8 Bedrooms | $2,046 |
U.S. Census Bureau data (2024)
The investment landscape in ZIP code 67134 presents several challenges for landlords considering Section 8 participation. Tenant turnover is a significant concern, with the market rent at $850 being notably lower than the Fair Market Rent (FMR) of $880 for fiscal year 2026 in the metropolitan area. This discrepancy can lead to higher tenant mobility, as individuals might seek more affordable housing options outside the program.
Vacancy exposure is another critical issue. The average Days on Market (DOM) is not available, which makes it difficult to predict how long a property might remain vacant between tenants. This uncertainty can result in lost rental income and increased costs associated with maintaining an unoccupied property.
The deferred maintenance exposure is substantial, given the typical home value of $163,279 and a median income of $75,625. Landlords must be prepared to invest in property upkeep, as the financial resources of many tenants may be limited, leading to potential neglect of necessary repairs and maintenance. This scenario can be particularly challenging when dealing with properties that require significant capital improvements to meet housing quality standards.
However, these risks are somewhat mitigated by the high renter share in the area, which stands at 13.0%. High renter density generally translates into higher demand for rental housing, including Section 8 vouchers. This increased demand can help ensure a steady stream of tenants and reduce the likelihood of extended vacancies.
In conclusion, the overall risk for a first-time Section 8 landlord in ZIP 67134 is moderate. While there are notable challenges related to tenant turnover and deferred maintenance, the strong renter base provides a counterbalance that supports a viable investment opportunity.
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.