Location: Montgomery County, KS | Metro: Labette County, KS
| Unit Size | Monthly FMR |
|---|---|
| Studio | $680 |
| 1 Bedroom | $770 |
| 2 Bedrooms | $980 |
| 3 Bedrooms | $1,220 |
| 4 Bedrooms | $1,620 |
| 5 Bedrooms | $1,879 |
| 6 Bedrooms | $2,104 |
| 7 Bedrooms | $2,272 |
| 8 Bedrooms | $2,386 |
U.S. Census Bureau data (2024)
The ZIP code 67351 stands out due to its unique characteristics, which include a relatively small population of 325 residents and a significant portion of those residents renting at 36.1%. The median income for this area is reported as $88,889, indicating a higher economic status compared to national averages. However, the absence of a median home value figure suggests that either there's a lack of sufficient data, or the majority of the population does not own homes, further emphasizing the rental dominance.
When it comes to Section 8 vouchers, the Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $980, while the actual market rent based on Census ACS data is $737. This discrepancy presents an opportunity for landlords who can leverage the higher FMR rates to increase their rental income. Landlords in ZIP 67351 should be aware that participating in the Section 8 program could result in a guaranteed rent amount that exceeds current market rates, potentially stabilizing cash flow and reducing vacancy risks.
The data signature for ZIP 67351 reads as "stable." With a higher median income and a notable percentage of renters, landlords can expect a consistent demand for rental properties. The presence of Section 8 vouchers, particularly with the favorable FMR rate, provides additional security for property owners looking to maintain steady occupancy levels. Small-portfolio investors should consider the potential benefits of accepting Section 8 tenants, as it can mitigate the risk associated with fluctuating market rents and tenant turnover.
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.