Section 8 Fair Market Rent (FMR) for ZIP 67349 - 2027

Location: Elk County, KS | Metro: Chautauqua County, KS

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$710
1 Bedroom	$730
2 Bedrooms	$960
3 Bedrooms	$1,250
4 Bedrooms	$1,420
5 Bedrooms	$1,647
6 Bedrooms	$1,845
7 Bedrooms	$1,993
8 Bedrooms	$2,093

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

646

Median Household Income

$67,727

Housing Units

502

Renter Percentage

22.4%

Occupancy Rate

64.9%

Renter Occupied

The ZIP code 67349, located in Kansas, offers a unique opportunity for real-estate investors interested in the Section 8 housing market. The area is characterized by its modest home values and a significant portion of renters who rely on government assistance for housing.

The Fair Market Rent (FMR) for the metro area for fiscal year 2026 is set at $880.
The average market rent, according to the Census American Community Survey, stands at $523.
The median home value in ZIP 67349 is $93,123, making it an affordable market for both buyers and investors.
Renters make up 22.4% of the population, indicating a substantial demand for rental properties.
The median income of residents in the area is $67,727, which suggests that while some may qualify for Section 8, there's also a middle-income bracket potentially interested in rentals.
The Days on Market (DOM) data is currently unavailable, but this metric would typically provide insight into how quickly properties sell or rent in the area.

Investors looking to enter the Section 8 market in ZIP 67349 can expect a favorable environment due to the gap between the Fair Market Rent and the actual market rent. With a median home value under $100,000 and a significant portion of the population renting, the area presents opportunities for both single-family homes and multi-unit investments. However, the median income indicates that while Section 8 tenants may be numerous, there could also be a viable market for slightly higher-priced rentals catering to middle-income earners. This diversification can mitigate risks associated with solely relying on government subsidies for rental income.

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.