Location: Ellis County, KS | Metro: Ellis County, KS
| Unit Size | Monthly FMR |
|---|---|
| Studio | $720 |
| 1 Bedroom | $800 |
| 2 Bedrooms | $1,040 |
| 3 Bedrooms | $1,420 |
| 4 Bedrooms | $1,740 |
| 5 Bedrooms | $2,018 |
| 6 Bedrooms | $2,260 |
| 7 Bedrooms | $2,441 |
| 8 Bedrooms | $2,563 |
U.S. Census Bureau data (2024)
The Section 8 cap rate analysis for ZIP code 67627 provides insights into potential investment opportunities for landlords and small-portfolio investors. The Fair Market Rent (FMR) for a two-bedroom apartment in the metro area for fiscal year 2026 is set at $940 per month. This annualizes to $11,280. However, the market rent for the area is currently not available.
To derive the implied gross yield, we need to consider the median home value in the area, which is also not available. Without the median home value, we cannot calculate the exact cap rate. Nonetheless, we can still provide a general analysis based on the available data.
In ZIP 67627, the renter density stands at 67.1%, indicating a significant portion of the population relies on rental housing. Given that the Fair Market Rent is established at $940 monthly, this figure serves as a benchmark for what landlords might expect when participating in the Section 8 program.
While the market rent is not specified, it's crucial to understand that the FMR sets a ceiling on the amount that can be charged under Section 8. Therefore, if the market rent were higher, the gross yield for Section 8 properties would likely be lower compared to non-Section 8 rentals.
The Days on Market (DOM) is not available, which typically helps in understanding how quickly units are leased. However, the high renter density suggests that there is a steady demand for rental properties, including those participating in Section 8.
In summary, the implied gross yield for a two-bedroom property under Section 8 in ZIP 67627 is $11,280 annually. While we cannot compare this directly to market rents without that information, the high renter density indicates a strong likelihood of consistent occupancy. Landlords should evaluate their costs and expected returns carefully before deciding whether to participate in the Section 8 program.
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.