Location: Sheridan County, KS | Metro: Gove County, KS
| Unit Size | Monthly FMR |
|---|---|
| Studio | $710 |
| 1 Bedroom | $810 |
| 2 Bedrooms | $960 |
| 3 Bedrooms | $1,230 |
| 4 Bedrooms | $1,340 |
| 5 Bedrooms | $1,554 |
| 6 Bedrooms | $1,740 |
| 7 Bedrooms | $1,879 |
| 8 Bedrooms | $1,973 |
U.S. Census Bureau data (2024)
The classification of ZIP code 67737 hinges on its financial metrics, specifically focusing on yield and stability. The Federal Market Rent (FMR) for the metro area in fiscal year 2026 is set at $880, while the local market rent is pegged at $631. This disparity indicates a potential for higher yields when leveraging Section 8 contracts compared to market-rate rentals.
Yield is further influenced by the median home value, which stands at $156,575. Given that the FMR is significantly higher than the market rent, landlords can expect a greater return on investment through Section 8 properties, especially if they can secure rents closer to the FMR rather than the lower market rates.
Moving to stability, ZIP 67737 has a rental rate of 32.5%, indicating a moderate reliance on rental income within the area. However, the lack of data on days on market (DOM) suggests some uncertainty regarding how quickly properties can be rented out. The average household income is $52,917, which provides insight into the economic conditions of the tenants but does not directly correlate to stability in terms of rental payments.
Based on these figures, ZIP 67737 leans towards being a high-yield/low-stability market. The significant gap between the FMR and the market rent suggests opportunities for higher yields, particularly appealing to those interested in short-term flips or investments focused on maximizing returns. However, the relatively low percentage of renters and the absence of DOM data hint at less stable occupancy rates and potentially slower property turnover, which could pose challenges for maintaining consistent cash flow.
To summarize, the key drivers for this classification are the $880 FMR versus $631 market rent, and the moderate rental rate of 32.5%. These factors indicate a market where landlords might see substantial financial gains but should also prepare for less predictable tenancy patterns.
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.