Location: Rooks County, KS | Metro: Graham 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 | $710 |
| 1 Bedroom | $740 |
| 2 Bedrooms | $960 |
| 3 Bedrooms | $1,180 |
| 4 Bedrooms | $1,430 |
| 5 Bedrooms | $1,659 |
| 6 Bedrooms | $1,858 |
| 7 Bedrooms | $2,007 |
| 8 Bedrooms | $2,107 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,180 | $126,606 | 0.93% | C |
U.S. Census Bureau data (2024)
The analysis of ZIP code 67646 in Rooks County, Kansas, reveals several key points regarding its viability for real estate investment, particularly for Section 8 landlords and small-portfolio investors.
First, the rent math does not work favorably for investors seeking to maximize income. The Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $880, while the actual market rent based on Census ACS data is only $601. This discrepancy means that landlords would be undercharging by over $270 per month if they align their rents with the market rate, which is significantly lower than the FMR benchmark.
Second, acquisition in this ZIP code is moderately affordable. The median home value stands at $105,605, making it accessible for those looking to purchase properties without breaking the bank. However, the lack of available data on days on market (DOM) and the percentage of homes requiring price cuts suggests a potentially stagnant market where homes may not sell quickly or may require negotiation to close deals.
Third, there is limited tenant demand. With a total population of 685 and a renter share of 27.5%, the number of potential tenants is relatively small. This implies that competition among landlords could be fierce, and filling vacancies might be challenging due to the low number of individuals actively seeking rental housing.
In conclusion, ZIP 67646 presents a scenario where the financials are not favorable for maximizing rental income, given the significant gap between the FMR and the current market rent. Acquisition costs are reasonable, but the market dynamics, including possibly slow sales and high negotiation rates, suggest caution. Additionally, the limited tenant pool indicates that securing long-term, stable tenants could be difficult. Therefore, while the area offers some affordability, the overall conditions make it less attractive for real estate investments targeting rental income, especially through Section 8 programs.
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.