Location: Phillips County, KS | Metro: Norton County, KS
| Unit Size | Monthly FMR |
|---|---|
| Studio | $710 |
| 1 Bedroom | $840 |
| 2 Bedrooms | $960 |
| 3 Bedrooms | $1,330 |
| 4 Bedrooms | $1,610 |
| 5 Bedrooms | $1,868 |
| 6 Bedrooms | $2,092 |
| 7 Bedrooms | $2,259 |
| 8 Bedrooms | $2,372 |
U.S. Census Bureau data (2024)
The investment landscape in ZIP code 67622 presents several challenges for landlords and small-portfolio investors considering Section 8 properties. Tenant turnover is a significant concern, as the market rent stands at $656, which is notably lower than the Fair Market Rent (FMR) of $880 for the fiscal year 2026 in the metropolitan area. This disparity suggests that tenants might be more inclined to move when they find higher-paying jobs or better housing options outside the subsidized program.
Vacancy exposure is another critical risk factor. The Days on Market (DOM) data is currently unavailable, indicating potential difficulties in assessing how quickly rental units can be filled. A prolonged period of vacancy can lead to significant financial losses, especially if the property is not generating consistent income.
Deferred maintenance is a third risk point. With a typical home value of $112,798 and a median income of $66,324, there's a possibility that homeowners may delay necessary repairs due to financial constraints. This could translate into higher maintenance costs for landlords, as they might inherit properties that require substantial upgrades to meet Section 8 standards.
However, these risks must be weighed against the high concentration of renters in the area. The renter share is 39.5%, which is a strong indicator of robust demand for rental properties. High renter density often correlates with increased demand for housing vouchers, making it easier for landlords to fill vacancies with Section 8 tenants. Additionally, the local economy supports a steady flow of individuals who qualify for the program, ensuring a stable pool of potential residents.
Verdict: Moderate risk for a first-time Section 8 landlord.
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.