Location: Sumner County, KS | Metro: Sumner County, KS HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $680 |
| 1 Bedroom | $740 |
| 2 Bedrooms | $960 |
| 3 Bedrooms | $1,170 |
| 4 Bedrooms | $1,270 |
| 5 Bedrooms | $1,473 |
| 6 Bedrooms | $1,650 |
| 7 Bedrooms | $1,782 |
| 8 Bedrooms | $1,871 |
U.S. Census Bureau data (2024)
A landlord considering ZIP 67140 for Section 8 investments should follow this decision tree:
1) Does FMR $880 (ZIP FY 2024) clear debt service on a $137,359 property?
Yes. The Fair Market Rent (FMR) of $880 is sufficient to cover typical debt service costs on a property valued at $137,359. Assuming an average mortgage rate of 5%, the annual debt service would be around $7,000, or $583 per month. This means that the FMR comfortably exceeds the monthly debt service requirement, leaving room for maintenance and other expenses.
No. If the debt service cost is higher than $583 per month, then the answer is no. However, based on the property value given, the FMR does cover the debt service.
It Depends. This scenario applies if there are extraordinary debt service costs not accounted for by standard mortgage rates. In such cases, the landlord must assess whether these additional costs can be managed within the FMR.
2) Is market rent $575 (Census ACS) above, at, or below FMR?
Above. If the market rent is higher than $880, then the landlord can charge the higher market rent and still qualify for Section 8 vouchers. This indicates strong demand and potential for profit beyond Section 8 subsidies.
At. If the market rent is exactly $575, which is below the FMR, then the landlord can only charge up to $575 to remain competitive in the market. This scenario suggests that while the landlord can attract tenants, they will not benefit from the full FMR subsidy.
Below. If the market rent is less than $575, then the landlord might struggle to fill units at the lower rate, even with Section 8 assistance. This scenario indicates weak market conditions and reduced profitability.
3) Are 14.4% renters + N/A-day DOM enough demand?
Yes. With 14.4% of residents being renters, there is a steady demand for rental properties. The N/A-day Days On Market (DOM) suggests either very low vacancy rates or that most rentals are filled quickly, indicating a healthy rental market.
No. If the percentage of renters is significantly lower or the DOM indicates high vacancy rates, then the demand is insufficient. However, the data provided does not support this conclusion.
It Depends. The N/A-day DOM could mean that the market is highly competitive or that there is little data available. In this case, the landlord needs to research further into local vacancy rates and competition to determine if there is enough demand.
In summary, if the answers to the gating questions are Yes, At, and Yes, then investing in ZIP 67140 for Section 8 properties is advisable. The FMR covers debt service, market rents are slightly below FMR, and there is a stable percentage of renters.
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.