Location: Russell County, KS | Metro: Russell County, KS
| Unit Size | Monthly FMR |
|---|---|
| Studio | $750 |
| 1 Bedroom | $830 |
| 2 Bedrooms | $1,020 |
| 3 Bedrooms | $1,280 |
| 4 Bedrooms | $1,540 |
| 5 Bedrooms | $1,786 |
| 6 Bedrooms | $2,000 |
| 7 Bedrooms | $2,160 |
| 8 Bedrooms | $2,268 |
U.S. Census Bureau data (2024)
The analysis for ZIP code 67634 reveals a significant gap between the Fair Market Rent (FMR) set by HUD and the actual market rent for the area. For fiscal year 2026, the FMR is $930, while the market rent, as reported by the Census ACS, stands at $575. This means that there is a gap of $355, or approximately 62%, between the FMR and the market rent.
The disparity where FMR exceeds market rent indicates that voucher tenants can provide a stable source of income for landlords. With the FMR at $930, voucher holders will likely cover the full rent, making this a yield play for property owners. Landlords can expect a consistent stream of rental payments that exceed the current market rate, thus increasing their overall return on investment.
In ZIP 67634, only 3.9% of residents are renters, and the median household income is $78,750. Given these conditions, landlords might consider the benefits of accepting Section 8 tenants. While the median home value is not available, the relatively low percentage of renters suggests that there may be less competition from other rental properties, making it easier to attract and retain Section 8 tenants.
The higher FMR compared to market rent also implies that landlords could potentially face challenges in attracting non-voucher tenants willing to pay the higher FMR rate. Therefore, accepting Section 8 tenants becomes a strategic choice for maximizing rental income without setting unrealistic expectations for the local rental market.
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.