Location: Kearny County, KS | Metro: Finney 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 | $1,060 |
| 1 Bedroom | $1,090 |
| 2 Bedrooms | $1,430 |
| 3 Bedrooms | $1,780 |
| 4 Bedrooms | $2,040 |
| 5 Bedrooms | $2,366 |
| 6 Bedrooms | $2,650 |
| 7 Bedrooms | $2,862 |
| 8 Bedrooms | $3,005 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,780 | $177,763 | 1% | B |
U.S. Census Bureau data (2024)
ZIP code 67838, located within Kearny County, KS, presents a unique rental market scenario when compared to typical ZIP codes in the county. The Federal Market Rent (FMR) for the metro area in fiscal year 2026 is set at $1,280. However, the actual market rent in ZIP 67838 stands significantly lower at $806. This discrepancy suggests that 67838 could be considered a value pocket within the metro, offering landlords a chance to attract tenants who might otherwise be priced out of the market.
The home value in ZIP 67838 is listed at $161,841, which is notably below the FMR. When combined with the market rent being well below the FMR, this indicates that the area may be particularly attractive for low-income housing programs such as Section 8. Additionally, the renter share in ZIP 67838 is quite high at 48.5%, further supporting the notion that it is a sweet spot for Section 8 properties.
In contrast, typical ZIP codes in Kearny County likely have higher market rents closer to the FMR, and possibly lower renter shares. The combination of a high renter share and below-average home values makes ZIP 67838 stand out as a potentially lucrative investment opportunity for landlords willing to participate in government-subsidized housing programs. It is neither a mid-tier neighborhood nor a premium sub-market, given the below-average rental rates and property values.
Investors should consider the implications of these figures. A ZIP code with a significant portion of renters and lower-than-average housing costs can offer stable, long-term returns through government subsidies, even if the initial rents are lower. The key advantage here is the ability to serve a population that might otherwise struggle to find affordable housing.
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.