Location: Hodgeman County, KS | Metro: Ford 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 | $670 |
| 1 Bedroom | $740 |
| 2 Bedrooms | $960 |
| 3 Bedrooms | $1,280 |
| 4 Bedrooms | $1,440 |
| 5 Bedrooms | $1,670 |
| 6 Bedrooms | $1,870 |
| 7 Bedrooms | $2,020 |
| 8 Bedrooms | $2,121 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $960 | $173,391 | 0.55% | F |
| 3BR | $1,280 | $262,597 | 0.49% | F |
U.S. Census Bureau data (2024)
The ZIP code 67876, located in Spearville, KS within the Hodgeman County, KS metro, has specific housing metrics that can be compared to typical ZIP codes in the same county. The Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $880. In contrast, the market rent for ZIP 67876 stands at $724, indicating that it is below the average for the metro area.
The median home value in ZIP 67876 is $228,336. This figure suggests that property values in this ZIP code are likely on par with or slightly above the typical home values seen across Hodgeman County. However, the lower market rent relative to the FMR implies that rental properties in this area may offer good value to investors looking for a balance between property costs and rental income.
A key metric for landlords and small-portfolio investors is the percentage of renters in the area, which is 21.7% in ZIP 67876. This is a notable point since it diverges from what might be expected given the lower market rent. Typically, areas with higher renter shares and lower home values indicate a potential sweet spot for Section 8 investments due to the alignment of rental prices with government-subsidized rates.
In summary, ZIP 67876 appears to be a value pocket within the Hodgeman County, KS metro. It offers below-average rents compared to the FMR, which aligns well with the government's subsidy rates. The relatively high renter share combined with modest home values makes it an attractive location for investors interested in Section 8 housing. Landlords can expect to find opportunities where they can secure a steady stream of tenants through the Section 8 program without the need to charge premium rents.
While the home values are not exceptionally low, the combination of lower-than-average market rents and a significant renter population creates a favorable environment for those who wish to invest in affordable housing options. This scenario allows for a sustainable investment strategy, leveraging the Section 8 program to ensure occupancy and manage cash flow effectively.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.