Location: Thomas County, KS | Metro: Logan County, KS
| Unit Size | Monthly FMR |
|---|---|
| Studio | $720 |
| 1 Bedroom | $840 |
| 2 Bedrooms | $970 |
| 3 Bedrooms | $1,210 |
| 4 Bedrooms | $1,470 |
| 5 Bedrooms | $1,705 |
| 6 Bedrooms | $1,910 |
| 7 Bedrooms | $2,063 |
| 8 Bedrooms | $2,166 |
U.S. Census Bureau data (2024)
The analysis of ZIP code 67747 reveals a complex landscape for both renters and landlords. The median income stands at $74,583, which is a significant figure, but when compared to the rental market rate, it becomes apparent that there is a notable affordability gap. Unfortunately, the specific market rate for this area is not available, indicated as N/A, which complicates a direct comparison. However, we can evaluate the situation based on the Fair Market Rent (FMR) standards set for the metro area in fiscal year 2026.
The FMR for the metro area in fiscal year 2026 is set at $920. This represents the maximum amount that a housing voucher will cover for rent in the area. Given that 39.2% of the population are renters and the total population is 151, the competition among landlords is relatively low due to the small number of potential tenants. However, this also means that landlords must be strategic in their pricing and tenant selection to ensure a steady stream of income.
The affordability gap is evident when comparing the median income to the FMR. A household earning the median income would struggle to pay the full market rate if it were higher than the FMR. This suggests that many renters might rely on housing vouchers to manage their living expenses. Landlords who accept vouchers could benefit from a guaranteed source of income, albeit at the FMR rate of $920. On the other hand, landlords who opt for cash-paying tenants may face a challenge in attracting enough residents willing to pay above the voucher rate, especially considering the limited pool of renters.
Takeaway: For landlords and small-portfolio investors in ZIP 67747, the decision to accept voucher tenants or seek cash-paying ones should be carefully considered. Accepting vouchers provides a stable income source aligned with the FMR, but it limits potential rental income. Pursuing cash-paying tenants might yield higher returns, yet it risks leaving units vacant due to the affordability constraints faced by many households. Balancing these strategies according to the local demand and vacancy rates is key to success in this market.
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.