Location: Rooks County, KS | Metro: Graham County, KS
| Unit Size | Monthly FMR |
|---|---|
| Studio | $710 |
| 1 Bedroom | $760 |
| 2 Bedrooms | $960 |
| 3 Bedrooms | $1,160 |
| 4 Bedrooms | $1,420 |
| 5 Bedrooms | $1,647 |
| 6 Bedrooms | $1,845 |
| 7 Bedrooms | $1,993 |
| 8 Bedrooms | $2,093 |
U.S. Census Bureau data (2024)
The market in ZIP code 67657 presents a dynamic scenario where the rental Fair Market Rent (FMR) set at $880 for fiscal year 2026 contrasts with the current market rent of $625 based on Census ACS data. This indicates that the current rental market is below the federally determined fair market level, suggesting a potential for upward pressure on rents as the market adjusts to meet the FMR standards.
The median home value stands at $129,074, which is relatively stable and does not indicate significant volatility in the housing market. However, the lack of data on price-cut share and days on market (DOM) prevents a comprehensive assessment of the current supply-demand balance. Despite this, the 21.1% renter share provides insight into the long-term housing dynamics within the area. A higher percentage of renters compared to homeowners can signal sustained housing pressure, as it suggests a substantial portion of the population is unable to secure homeownership, likely due to financial constraints or other barriers.
This snapshot implies that there might be an ongoing struggle between affordability and the cost of living. With a significant portion of residents renting, landlords and small-portfolio investors should be prepared for a market that may experience increased competition for tenants, particularly if the local economy improves and attracts more residents. The gap between the FMR and the current market rent also suggests that there could be opportunities for landlords to increase their rental rates gradually over time, aligning more closely with the FMR without immediately pricing out tenants.
In summary, while the exact trajectory of supply versus demand cannot be definitively stated without additional time-series data, the current figures point towards a market characterized by affordability challenges and a notable renter population. These factors contribute to a housing environment that requires careful management and strategic planning for those invested in the rental sector.
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.