Location: Stafford County, KS | Metro: Pawnee 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 | $730 |
| 1 Bedroom | $760 |
| 2 Bedrooms | $990 |
| 3 Bedrooms | $1,210 |
| 4 Bedrooms | $1,300 |
| 5 Bedrooms | $1,508 |
| 6 Bedrooms | $1,689 |
| 7 Bedrooms | $1,824 |
| 8 Bedrooms | $1,915 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $990 | $68,106 | 1.45% | A |
| 3BR | $1,210 | $126,200 | 0.96% | C |
| 4BR | $1,300 | $162,296 | 0.8% | C |
| 5BR | $1,508 | $214,880 | 0.7% | D |
U.S. Census Bureau data (2024)
The rental market in Larned, Kansas, represented by ZIP code 67550, presents a unique set of challenges and opportunities for landlords and small-portfolio investors. The median household income stands at $65,400, which places significant constraints on the financial capacity of residents to pay market-rate rents. At a market rate of $789 per month (as reported by the Census ACS), the average household would be spending nearly 15% of their annual income on rent alone. This figure becomes even more pronounced when considering other essential expenses such as food, healthcare, and transportation.
In comparison, the federal government’s Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $880 per month. While this is slightly higher than the current market rate, it provides a benchmark for what might be considered affordable housing assistance through Section 8 vouchers. However, the reality is that the FMR does not necessarily reflect the actual economic situation of the local population. Given the median income of $65,400, the FMR would still represent a substantial portion of a household's budget, potentially leading to financial strain for recipients.
The ZIP code has a relatively high percentage of renters at 36.8%, indicating a significant demand for rental properties. With a total population of 5,104, landlords face a competitive environment where they must balance rental rates with the ability of tenants to pay. The affordability gap between the median income and both the market rate ($789) and the FMR ($880) suggests that many households in Larned may struggle to find suitable housing without assistance. This dynamic could lead to a preference among potential tenants for properties that accept Section 8 vouchers, as these provide a subsidy that can make housing more affordable.
Takeaway: For landlords in Larned, KS, the decision to accept Section 8 vouchers versus relying solely on cash-paying tenants should consider the local economic context. Given the median income and the high proportion of renters, accepting vouchers can stabilize occupancy and ensure steady, government-backed rental payments, albeit at a lower rate than the market might otherwise allow. Landlords who are willing to participate in the Section 8 program can tap into a segment of the market that might otherwise be unable to afford local rents, while also benefiting from reduced vacancy rates and tenant turnover.
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.