Location: Reno County, KS | Metro: Reno County, KS
| Unit Size | Monthly FMR |
|---|---|
| Studio | $820 |
| 1 Bedroom | $900 |
| 2 Bedrooms | $1,180 |
| 3 Bedrooms | $1,500 |
| 4 Bedrooms | $1,650 |
| 5 Bedrooms | $1,914 |
| 6 Bedrooms | $2,144 |
| 7 Bedrooms | $2,316 |
| 8 Bedrooms | $2,432 |
U.S. Census Bureau data (2024)
The Section 8 housing analysis for ZIP code 67510 reveals a significant gap between the Fair Market Rent (FMR) and the actual market rent. The FMR for the metro area in fiscal year 2026 is set at $1,170, while the average market rent based on Census ACS data is $863. This means there is a difference of $307, or approximately 35.2%, between what landlords can charge under the Section 8 program and what the market currently dictates.
In this scenario, where the FMR exceeds the market rent, landlords can leverage this discrepancy to maximize their yields. By accepting Section 8 tenants, they can command rents closer to the FMR level, which is higher than the current market rate. This makes it a lucrative opportunity for landlords who want to increase their rental income without significantly altering their property management practices.
The local context further supports this analysis. With 20.7% of residents being renters and a median household income of $87,750, the demand for affordable housing is strong. However, the lack of a reported median home value suggests that homeownership might be less prevalent or data might be incomplete, making rental properties, especially those eligible for Section 8 vouchers, more attractive.
Landlords should note that while the higher FMR allows for increased rental income, it also comes with certain responsibilities and regulations associated with the Section 8 program. These include maintaining the property to certain standards and undergoing regular inspections. Despite these considerations, the potential to earn $307 more per month compared to the open-market rent makes this an appealing option for maximizing returns on investment.
Furthermore, the higher FMR provides a buffer against the costs of managing Section 8 tenants, such as the time and effort required for documentation and compliance. Landlords can use this additional income to cover any administrative expenses and still enjoy a higher yield than what the current market offers.
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.