Location: Marion County, KS | Metro: Marion County, KS
| Unit Size | Monthly FMR |
|---|---|
| Studio | $770 |
| 1 Bedroom | $800 |
| 2 Bedrooms | $1,040 |
| 3 Bedrooms | $1,320 |
| 4 Bedrooms | $1,380 |
| 5 Bedrooms | $1,601 |
| 6 Bedrooms | $1,793 |
| 7 Bedrooms | $1,936 |
| 8 Bedrooms | $2,033 |
U.S. Census Bureau data (2024)
The ZIP code 67438 presents several challenges for landlords considering Section 8 investments. Firstly, the tenant turnover rate could be problematic due to the discrepancy between the market rent, which is currently unavailable, and the Fair Market Rent (FMR) set at $950 for fiscal year 2026 in the metropolitan area. This difference can lead to higher tenant churn if the market rent exceeds the FMR, making it difficult for tenants to afford additional costs.
Vacancy exposure is another concern. The days on market (DOM) data is also not available, which means landlords cannot predict how long their properties might remain vacant before finding a tenant. A prolonged vacancy period can significantly impact cash flow and profitability.
Deferred maintenance is a notable risk factor. With a median income of $74,531 and an unknown typical home value, there's a potential for properties to suffer from inadequate upkeep. Tenants who receive rental assistance through Section 8 vouchers may have limited funds for maintaining the property beyond basic living needs, leading to deferred repairs and maintenance issues.
However, these risks must be weighed against the significant number of renters in the area. The 1.1% renter share might seem low at first glance, but it actually indicates a high concentration of renters relative to homeowners, which typically translates into a robust demand for rental housing. This strong rental market can help mitigate some of the risks associated with vacancy and tenant turnover.
In conclusion, despite the potential for high tenant turnover and deferred maintenance, the strong rental market in ZIP 67438 suggests that the overall risk for a first-time Section 8 landlord is moderate.
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.