Location: Sheridan County, KS | Metro: Gove 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 | $710 |
| 1 Bedroom | $830 |
| 2 Bedrooms | $960 |
| 3 Bedrooms | $1,250 |
| 4 Bedrooms | $1,290 |
| 5 Bedrooms | $1,496 |
| 6 Bedrooms | $1,676 |
| 7 Bedrooms | $1,810 |
| 8 Bedrooms | $1,901 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,250 | $158,358 | 0.79% | D |
U.S. Census Bureau data (2024)
ZIP code 67738 in Sheridan County, KS, presents a unique position within its metro area based on the following data points: Fair Market Rent (FMR) of $880 for fiscal year 2026, a market rent of $772, an average home value of $159,781, and a 14.6% share of renters.
Compared to typical ZIP codes in Sheridan County, the FMR of $880 for ZIP 67738 is slightly higher than the county's average FMR, indicating that it might be a mid-tier neighborhood within the metro. However, the market rent at $772 is below the FMR, suggesting that rental properties in this ZIP could offer competitive returns to landlords who can manage their properties efficiently without relying heavily on government subsidies.
The home value of $159,781 is also reflective of a mid-tier status. This figure is neither excessively high nor low when contrasted against typical home values in the county, implying that the real estate market here is balanced and likely stable, offering both homeowners and investors reasonable equity and investment potential.
A 14.6% renter share is notable, as it suggests a significant portion of the population relies on rental housing. This percentage is indicative of a neighborhood that attracts a mix of tenants, including those who might qualify for Section 8 assistance. The combination of a below-average home value and a relatively high renter share can signal a sweet spot for Section 8 landlords and investors looking to capitalize on the demand for affordable housing.
In summary, ZIP 67738 appears to be a mid-tier neighborhood within the Sheridan County metro. Its slightly elevated FMR but lower market rent, combined with a significant renter share and moderate home values, positions it as an area where landlords and small-portfolio investors can find opportunities, particularly in the affordable housing sector.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.