Location: Pawnee County, KS | Metro: Hodgeman County, KS
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,070 |
| 1 Bedroom | $1,120 |
| 2 Bedrooms | $1,460 |
| 3 Bedrooms | $1,800 |
| 4 Bedrooms | $1,940 |
| 5 Bedrooms | $2,250 |
| 6 Bedrooms | $2,520 |
| 7 Bedrooms | $2,722 |
| 8 Bedrooms | $2,858 |
U.S. Census Bureau data (2024)
The median income in ZIP code 67523 stands at $57,813, indicating that households might struggle to meet the market rate rent of $1,309. This figure represents the typical rent amount for a property in the area, according to the latest Census ACS data.
In comparison, the Housing Choice Voucher program, commonly known as Section 8, sets the Fair Market Rent (FMR) at $1,270 for the fiscal year 2026. This means that while market rates are slightly higher, vouchers come very close to covering the average rental costs in the area. The affordability gap between the median income and the market rate suggests that many renters in ZIP 67523 may find it challenging to pay the full market price without financial assistance.
With 28.4% of the population being renters and a total population of 498, the competition among landlords could be significant. Given the tight budget constraints faced by many residents, landlords who accept vouchers might have an advantage in attracting tenants over those who do not, especially if they offer competitive terms and well-maintained properties.
For landlords considering their strategy, accepting vouchers can be a viable option to ensure steady occupancy. While voucher payments are typically lower than market rates, the guarantee of consistent rent and the reduced risk of vacancy can outweigh the difference. Additionally, landlords should be prepared to meet certain standards for property maintenance and management as required by the voucher program.
However, landlords should also consider the potential benefits of renting to cash-paying tenants. These benefits include receiving the full market rate rent, which can be higher than the FMR set by the voucher program, and avoiding the administrative complexities associated with the voucher process. In ZIP 67523, where the market rate is only marginally above the FMR, the decision to accept vouchers versus seeking cash-paying tenants will depend on individual circumstances and preferences.
In summary, the affordability gap in ZIP 67523 means that landlords must weigh the pros and cons of accepting vouchers against the benefits of renting to cash-paying tenants. Accepting vouchers ensures stable income but at a slightly lower rate, while pursuing cash-paying tenants could command the full market rate of $1,309 but comes with the risk of vacancy in a competitive market.
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.