Location: McPherson County, KS | Metro: McPherson County, KS
| Unit Size | Monthly FMR |
|---|---|
| Studio | $770 |
| 1 Bedroom | $800 |
| 2 Bedrooms | $1,050 |
| 3 Bedrooms | $1,340 |
| 4 Bedrooms | $1,480 |
| 5 Bedrooms | $1,717 |
| 6 Bedrooms | $1,923 |
| 7 Bedrooms | $2,077 |
| 8 Bedrooms | $2,181 |
U.S. Census Bureau data (2024)
To decide whether you should buy in ZIP code 67460 (McPherson, KS) for Section 8 investments, follow this decision tree:
1) Does FMR $940 (metro FY 2026) clear debt service on a $217,158 property?
No. The Fair Market Rent (FMR) of $940 does not cover the debt service on a property valued at $217,158. Debt service typically includes mortgage payments, property taxes, insurance, and maintenance costs. At this price point, the rental income would be insufficient to meet these obligations, making it unadvisable to invest solely based on Section 8 income.
2) Is market rent $1,080 (ZORI) above, at, or below FMR?
Above. The Zillow Rent Index (ZORI) indicates that the market rent in McPherson, KS is $1,080, which is higher than the FMR of $940. This suggests that landlords can potentially command higher rents than what is covered by Section 8 vouchers, but it also implies that there might be a gap between the voucher amount and the market rate.
3) Are 30.6% renters + N/A-day DOM enough demand?
It depends. With 30.6% of the population being renters, there is a moderate level of demand for rental properties. However, the days on market (DOM) being listed as N/A means there's insufficient data to determine how quickly properties are rented out. This could indicate either a stable market where properties don't spend much time on the market, or an unstable one where data collection is inconsistent. To make a confident investment decision, additional research into local rental vacancy rates and leasing trends is necessary.
If the FMR does not cover debt service, investing in Section 8 properties in ZIP 67460 is not advisable without considering other sources of income or subsidies. If market rent is above FMR, landlords must weigh the benefits of potentially higher rents against the limitations of Section 8 voucher amounts. Lastly, if the percentage of renters is moderate but the DOM data is unavailable, the decision hinges on further investigation into market stability and tenant demand.
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.