Section 8 Fair Market Rent (FMR) for ZIP 67846 - 2027

Location: Lane County, KS | Metro: Finney County, KS

Investment Score for ZIP 67846

Monthly Rent (2BR)

$1,150

Median Price (2BR)

$179,035

1% Rule

0.64%

Annual Yield

7.71%

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$870
1 Bedroom	$880
2 Bedrooms	$1,150
3 Bedrooms	$1,580
4 Bedrooms	$1,910
5 Bedrooms	$2,216
6 Bedrooms	$2,482
7 Bedrooms	$2,681
8 Bedrooms	$2,815

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
1BR	$880	$117,266	0.75%	D
2BR	$1,150	$179,035	0.64%	D
3BR	$1,580	$225,694	0.7%	D
4BR	$1,910	$278,938	0.68%	D
5BR	$2,216	$333,107	0.67%	D

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

34,475

Median Household Income

$73,218

Housing Units

13,283

Renter Percentage

36.3%

Occupancy Rate

92.1%

Renter Occupied

4,439

Garden City, KS, located in the heart of Kansas, is a small city that offers a stable rental market for both landlords and small-portfolio investors. The area is characterized by its modest size and a mix of residential and commercial properties, making it a suitable location for investment.

The Fair Market Rent (FMR) for a two-bedroom apartment in the Garden City metro area for fiscal year 2026 is set at $1,040.
The market rent, as measured by the Zillow Observed Rent Index (ZORI), stands at $817 for a similar unit, indicating a slight discount compared to the FMR.
The median home value in the area is $233,463, which reflects a moderate price point for residential properties.
Renters make up 36.3% of the housing market, suggesting a significant portion of the population prefers renting over owning.
The days on market (DOM) for rental listings average 73 days, showing that it can take a considerable amount of time to find tenants.
The median household income in the area is $73,218, providing insight into the financial stability of potential renters.

Investors considering the Garden City, KS market should note the discrepancy between the FMR and the actual market rent, which could indicate room for price adjustments. The moderate median home value suggests that the area is not overly expensive, making it accessible for various types of investments. With a renter share of 36.3%, there is a notable demand for rental properties. However, the longer days on market indicate challenges in tenant acquisition, which might require strategic marketing or lowering rents to attract residents. The median income provides assurance regarding the financial capability of the local population to afford rent, but investors must balance this against the current market rates to ensure profitability.

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.