Location: Morris County, KS | Metro: Dickinson County, KS
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $850 |
| 1 Bedroom | $860 |
| 2 Bedrooms | $1,130 |
| 3 Bedrooms | $1,440 |
| 4 Bedrooms | $1,530 |
| 5 Bedrooms | $1,775 |
| 6 Bedrooms | $1,988 |
| 7 Bedrooms | $2,147 |
| 8 Bedrooms | $2,254 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,130 | $49,079 | 2.3% | A+ |
| 3BR | $1,440 | $117,800 | 1.22% | A |
| 4BR | $1,530 | $144,017 | 1.06% | B |
U.S. Census Bureau data (2024)
The classification of ZIP 67449, located in Herington, Kansas, hinges on its financial metrics related to rental yields and market stability. The Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $1,010, while the market rent stands at $945. This indicates that the area is slightly above average in terms of rental yields, with a modest premium landlords can expect over the actual market rates. However, the median home value in the area is significantly lower at $96,053, which suggests a relatively affordable housing market.
On the axis of stability, the data points to a mixed picture. With 27.4% of the population being renters, the market shows a decent level of demand for rental properties. The median household income is $69,357, which is a key indicator of the ability of residents to pay rent. The lack of data on the number of days on the market (DOM) makes it challenging to assess the speed at which properties are rented out, but the income figure suggests a stable economic base for tenants to sustain their rent payments.
Based on these figures, ZIP 67449 is best classified as a steady-cashflow zone. The rental yield, driven by the FMR of $1,010, provides a reasonable return for landlords, especially when compared to the median home value. The income level of $69,357 supports a stable rental market, where tenants are likely to have the financial means to maintain consistent rent payments. Although the percentage of renters is not exceptionally high, it does indicate a reliable tenant pool. Therefore, for landlords and small-portfolio investors looking for a stable investment with moderate returns, Herington, KS, represents an attractive option.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.