Location: Dickinson County, KS | Metro: Geary County, KS HUD Metro FMR Area
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 | $760 |
| 1 Bedroom | $770 |
| 2 Bedrooms | $1,000 |
| 3 Bedrooms | $1,320 |
| 4 Bedrooms | $1,590 |
| 5 Bedrooms | $1,844 |
| 6 Bedrooms | $2,065 |
| 7 Bedrooms | $2,230 |
| 8 Bedrooms | $2,342 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,320 | $236,557 | 0.56% | F |
U.S. Census Bureau data (2024)
The analysis of ZIP code 67487 reveals several key points regarding its suitability for Section 8 real estate investment.
The first question addresses whether the rent math works. The Fair Market Rent (FMR) for ZIP 67487 in fiscal year 2024 is set at $970, which is notably higher than the market rent reported by the Census ACS at $819. This discrepancy means that landlords participating in the Section 8 program can expect to receive a subsidy that bridges the gap between the lower market rent and the higher FMR, making it financially viable to lease properties under the program.
Regarding the affordability of property acquisition, the median home value in ZIP 67487 is $232,032. With no data available on days on market (DOM) or the percentage of homes needing price cuts to sell, we cannot fully assess the speed and ease of acquiring properties. However, the median home value suggests that properties are reasonably priced for potential investors looking to enter the market without facing extremely high barriers to entry.
The third question concerns tenant demand. ZIP 67487 has a population of 1,515, with 15.5% of residents being renters. While the renter share is relatively low, it still indicates a modest demand for rental housing within the area. Given the size of the population, landlords can expect a stable pool of potential tenants who might benefit from Section 8 assistance.
Overall, ZIP 67487 presents a mixed picture for Section 8 real estate investment. The favorable rent math, driven by the disparity between FMR and market rent, supports positive cash flow for landlords. The median home value suggests that property acquisition is feasible but lacks detailed insights into market dynamics due to missing DOM and price-cut data. Despite the low renter share, the presence of a small yet steady demand for rental housing makes the area worth considering for those interested in Section 8 investments. Landlords should proceed with an understanding of the local market's limitations while capitalizing on the financial benefits offered by the program.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.