Location: Elk County, KS | Metro: Elk County, KS
| Unit Size | Monthly FMR |
|---|---|
| Studio | $720 |
| 1 Bedroom | $750 |
| 2 Bedrooms | $980 |
| 3 Bedrooms | $1,240 |
| 4 Bedrooms | $1,450 |
| 5 Bedrooms | $1,682 |
| 6 Bedrooms | $1,884 |
| 7 Bedrooms | $2,035 |
| 8 Bedrooms | $2,137 |
U.S. Census Bureau data (2024)
The ZIP code 67345 presents an interesting balance between yield and stability for real estate investors. The Fair Market Rent (FMR) for the area is set at $890 for the fiscal year 2026, which is a critical figure for determining rental income under the Section 8 program. However, the lack of data regarding the local market rent and home values means that direct comparisons cannot be made, which limits the assessment of potential profit margins beyond the guaranteed FMR.
On the stability axis, the area has 15.9% of its residents as renters, indicating a relatively stable tenant population. This percentage suggests a community where homeownership is prevalent, potentially leading to fewer vacancies and more consistent tenancy. Additionally, the median household income in the area is $75,714, which is above average and supports the likelihood of timely rental payments.
While the exact days on market (DOM) for rentals is unavailable, the combination of the above figures points towards a market that leans towards a steady-cashflow zone rather than a high-yield/low-stability flip-style market. The presence of a significant number of homeowners and higher-than-average incomes indicates a stable economic base. This stability is crucial for long-term investments, particularly for those participating in the Section 8 program, which requires a steady stream of income and minimal risk of default.
The absence of local market rent and home value data makes it challenging to assess the upside potential for flipping properties or achieving higher yields through market-rate rentals. Therefore, based on the available data, landlords and small-portfolio investors should focus on the reliability and predictability of cash flow rather than speculative gains. The FMR of $890 provides a solid foundation for calculating expected rental income, and the income level supports the feasibility of these rents being paid consistently.
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.