Location: Rush County, KS | Metro: Ellis County, KS
| Unit Size | Monthly FMR |
|---|---|
| Studio | $710 |
| 1 Bedroom | $730 |
| 2 Bedrooms | $960 |
| 3 Bedrooms | $1,330 |
| 4 Bedrooms | $1,510 |
| 5 Bedrooms | $1,752 |
| 6 Bedrooms | $1,962 |
| 7 Bedrooms | $2,119 |
| 8 Bedrooms | $2,225 |
U.S. Census Bureau data (2024)
The market in ZIP code 67556 presents a dynamic scenario where rental rates significantly lag behind the Fair Market Rent (FMR) benchmark set at $900 for the fiscal year 2026. Currently, the market rent stands at $539, according to the latest Census ACS data, indicating a potential gap between what the government deems as fair and what the local market is willing to bear. This discrepancy suggests that the supply of rental units may be outpacing demand, as landlords might be offering lower rents to attract tenants.
The median home value in the area is listed at $74,666, which is relatively low compared to national averages. This figure could reflect an overall affordability in the region, potentially attracting first-time homebuyers who find it more economical to purchase rather than rent. However, the lack of data on the percentage of price cuts and days on the market (DOM) makes it challenging to draw definitive conclusions on the exact balance between supply and demand in the rental sector.
A noteworthy statistic is the 13.1% share of renters in the population. While this indicates a smaller proportion of the population prefers renting over owning, it also implies that there is a persistent segment of the community facing housing pressure. Long-term, this could mean that even if the majority of residents prefer homeownership, a significant minority will continue to rely on the rental market. This consistent demand can create opportunities for landlords who can offer competitive pricing and attractive properties.
In summary, ZIP 67556's rental market appears to be one where supply currently exceeds demand, as evidenced by the lower market rent compared to the FMR. The relatively low median home value and modest renter share suggest an affordable market with ongoing pressure for both rental and ownership options. Landlords and small-portfolio investors should consider these factors when evaluating investment opportunities or adjusting their rental strategies.
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.