Location: Sherman County, KS | Metro: Sherman County, KS
| Unit Size | Monthly FMR |
|---|---|
| Studio | $770 |
| 1 Bedroom | $890 |
| 2 Bedrooms | $1,040 |
| 3 Bedrooms | $1,250 |
| 4 Bedrooms | $1,530 |
| 5 Bedrooms | $1,775 |
| 6 Bedrooms | $1,988 |
| 7 Bedrooms | $2,147 |
| 8 Bedrooms | $2,254 |
U.S. Census Bureau data (2024)
The ZIP code 67733 presents several challenges for landlords considering Section 8 investments. Tenant turnover can be a significant issue, especially when comparing the non-disclosed market rent to the $950 Fair Market Rent (FMR) for fiscal year 2026 in the metropolitan area. This disparity may lead to frequent changes in occupancy, which can disrupt property management and increase administrative costs.
Vacancy exposure is another concern due to the non-disclosed days on market (DOM). A longer DOM indicates higher vacancy rates, which directly impact rental income. With no specific data on DOM, it's prudent to assume that the competition for tenants could be fierce, leading to extended periods without rent.
Deferred maintenance is also a risk factor. The lack of disclosed typical home values in the area contrasts with the median income of $95,938. While this suggests that residents might have the financial capacity to maintain their homes, it does not guarantee that they will do so, particularly if they are on housing vouchers. Landlords must be prepared for potential maintenance issues that could arise from tenant neglect.
Despite these risks, the ZIP code has a 0.0% renter share, which is unusually low. Typically, areas with a high percentage of renters see increased demand for housing vouchers, which can stabilize occupancy and provide a steady stream of rental income. However, the low renter share here could mean fewer voucher holders, potentially reducing the number of qualified tenants and increasing the challenge of finding suitable occupants.
In summary, the risks associated with tenant turnover, vacancy exposure, and deferred maintenance outweigh the benefits of a high renter share. Given the specific conditions in ZIP 67733, the investment carries a high risk for a first-time Section 8 landlord.
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.