Location: Wallace County, KS | Metro: Greeley County, KS
| Unit Size | Monthly FMR |
|---|---|
| Studio | $750 |
| 1 Bedroom | $890 |
| 2 Bedrooms | $1,030 |
| 3 Bedrooms | $1,420 |
| 4 Bedrooms | $1,510 |
| 5 Bedrooms | $1,752 |
| 6 Bedrooms | $1,962 |
| 7 Bedrooms | $2,119 |
| 8 Bedrooms | $2,225 |
U.S. Census Bureau data (2024)
The ZIP code 67762 presents a dynamic rental market that reflects current economic conditions and tenant preferences. With a Fair Market Rent (FMR) set at $880 for the fiscal year 2026, this area is positioned to attract a broad range of renters who can afford the stipulated rates. However, the actual market rent, according to Census ACS data, is $755, indicating that landlords might have room to adjust their rents upwards to align with FMR without losing tenants.
The median home value of $175,455 suggests that homeownership remains accessible but is likely influenced by the high renter share of 43.4%. This significant portion of renters indicates a persistent housing pressure, which could be due to affordability issues or a preference for renting over buying. As a result, landlords and small-portfolio investors can expect a steady demand for rental properties, although they should remain vigilant about local economic shifts that could impact tenant mobility and demand.
The lack of specific data on price-cut share and days on market (DOM) does not obscure the overall picture of a market in flux. The gap between FMR and market rent points towards an environment where landlords must balance competitive pricing with the desire to maximize income. Given the high percentage of renters, it's reasonable to infer that demand for rentals could exceed supply, creating opportunities for landlords to maintain or slightly increase rents while still attracting tenants.
In conclusion, ZIP 67762 appears to be a market where demand for rental properties is robust, driven by a significant renter population and relatively low median home values. Landlords and investors should capitalize on the current conditions by offering competitive yet profitable rental options. The market's dynamics suggest a need for flexibility and attention to local economic indicators to navigate potential changes effectively.
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.