Location: Sherman County, KS | Metro: Sherman 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 | $750 |
| 1 Bedroom | $940 |
| 2 Bedrooms | $1,020 |
| 3 Bedrooms | $1,220 |
| 4 Bedrooms | $1,500 |
| 5 Bedrooms | $1,740 |
| 6 Bedrooms | $1,949 |
| 7 Bedrooms | $2,105 |
| 8 Bedrooms | $2,210 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,020 | $85,931 | 1.19% | B |
| 3BR | $1,220 | $149,980 | 0.81% | C |
| 4BR | $1,500 | $209,825 | 0.71% | D |
| 5BR | $1,740 | $246,305 | 0.71% | D |
U.S. Census Bureau data (2024)
The economics of Section 8 in ZIP code 67735, which includes Goodland, KS, in Sherman County, are straightforward. The SAFMR (Small Area Fair Market Rent) for a two-bedroom apartment in this specific ZIP code for fiscal year 2026 is set at $930. This figure is slightly above the local market rent, which stands at $908 according to the latest Census ACS data.
A landlord participating in the Section 8 program receives payment from the housing authority on behalf of their tenants. The reimbursement calculation involves the tenant's contribution and any applicable utility allowances. Typically, the tenant's portion is around 30% of their adjusted income, but it cannot exceed the difference between the SAFMR and the lowest rent amount allowed by the housing authority. For simplicity, let's assume a tenant contributes $279, which is roughly 30% of the average minimum wage annual income in Kansas.
The housing authority will cover the remaining rent up to the SAFMR limit. In this case, the reimbursement would be $930 minus the tenant's contribution of $279, leaving the housing authority to pay $651 towards the rent. If there are utility allowances, these can increase the total reimbursement amount. However, the exact utility allowance can vary based on the type of utilities included and the season. Let's say the utility allowance adds an additional $150 to the reimbursement. Therefore, the total reimbursement a landlord would receive per month for a two-bedroom apartment would be $801 ($651 for rent + $150 for utilities).
This means that if the local market rent is $908, landlords would face a monthly reimbursement gap of $107 when renting out a two-bedroom unit under the Section 8 program. Conversely, if they set their rent at $930, the gap would be zero, and they would receive the full market rent. However, setting rent above the SAFMR is not advisable since the housing authority will only reimburse up to the SAFMR limit.
In summary, landlords in ZIP 67735 can expect a reimbursement of approximately $801 for a two-bedroom apartment, leading to a surplus if the market rent is lower and a gap if the market rent exceeds the SAFMR. Given the current figures, landlords should prepare for a slight financial shortfall of $107 per month if they aim to charge the local market rate of $908.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.