Location: Russell County, KS | Metro: Ellis County, KS
| Unit Size | Monthly FMR |
|---|---|
| Studio | $700 |
| 1 Bedroom | $750 |
| 2 Bedrooms | $960 |
| 3 Bedrooms | $1,280 |
| 4 Bedrooms | $1,430 |
| 5 Bedrooms | $1,659 |
| 6 Bedrooms | $1,858 |
| 7 Bedrooms | $2,007 |
| 8 Bedrooms | $2,107 |
U.S. Census Bureau data (2024)
The analysis of ZIP code 67651 reveals a mixed market scenario that leans towards providing steady cash flow rather than high-yield, low-stability opportunities. This classification is driven by several key figures.
Firstly, examining the yield potential, the Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $880, while the market rent for ZIP 67651 stands at $672. This suggests that properties in this ZIP code can be rented below the metro average, indicating a lower risk of vacancy but also lower rental income compared to the surrounding areas. Additionally, the median home value of $71,820 places it within a moderate price range, which could attract both owner-occupiers and investors looking for affordable properties.
Moving onto stability, the data shows that 26.6% of residents are renters, which is a significant portion but not overwhelmingly high. The lack of data on days on market (DOM) makes it difficult to assess the speed at which properties are typically leased or sold, but the median household income of $63,125 provides insight into the economic stability of the area. This figure suggests that there is a reasonable level of financial security among the residents, which supports consistent rental payments and reduces the risk of default.
To further clarify the market dynamics, let's consider the implications of these figures. The difference between the FMR and the actual market rent ($880 vs. $672) indicates a potential for modest profit margins when renting out properties. However, the relatively low percentage of renters and the moderate income levels suggest that the market is stable enough to provide predictable cash flows. Landlords and small-portfolio investors should find this environment favorable for long-term investments over quick flips, as the latter would likely require a more volatile market with higher rent-to-price ratios.
In conclusion, ZIP 67651 offers a balanced market that is best suited for steady cash flow investments. The rental income, while not the highest, is reliable given the area's income levels and the proportion of renters. For those interested in maximizing short-term profits through flipping, other markets with higher rent-to-price ratios might offer better opportunities.
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.