Location: Rice County, KS | Metro: Reno 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 | $680 |
| 1 Bedroom | $740 |
| 2 Bedrooms | $970 |
| 3 Bedrooms | $1,230 |
| 4 Bedrooms | $1,360 |
| 5 Bedrooms | $1,578 |
| 6 Bedrooms | $1,767 |
| 7 Bedrooms | $1,908 |
| 8 Bedrooms | $2,003 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $970 | $82,466 | 1.18% | B |
| 3BR | $1,230 | $138,322 | 0.89% | C |
U.S. Census Bureau data (2024)
ZIP code 67561, located in Nickerson, KS within the Rice County, KS metro, presents an interesting mix of characteristics that position it distinctly within the local real estate landscape. The Fair Market Rent (FMR) for the area is set at $910 for fiscal year 2026, which is notably higher than the actual market rent of $794. This discrepancy suggests that the area could be undervalued relative to the FMR benchmark, potentially making it a value pocket for landlords and small-portfolio investors looking to capitalize on government-subsidized housing programs.
The median home value in ZIP 67561 stands at $118,076, which is lower than what might be expected in a metro area with a higher FMR. This indicates that the overall property values in the area are relatively affordable compared to the rental rates, which could be attractive for investors seeking to purchase properties at a lower cost while still achieving decent rental income.
A significant 26.4% of residents in ZIP 67561 are renters, which is a substantial portion and may indicate a reliance on rental housing, including subsidized options like Section 8. Given the lower home values alongside a higher-than-average renter share, it's reasonable to infer that this ZIP code could serve as a sweet spot for Section 8 participants, offering them access to homes that are more affordable than the average in the Rice County metro.
In comparison to typical ZIP codes within Rice County, KS, ZIP 67561 appears to be a value pocket where the combination of lower home values and a higher renter share makes it an attractive area for investors interested in government-assisted rental programs. The lower market rent compared to the FMR also points to potential opportunities for landlords to increase their rental yields without significantly increasing their investment costs.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.