Location: Stanton County, KS | Metro: Grant 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 | $950 |
| 1 Bedroom | $980 |
| 2 Bedrooms | $1,290 |
| 3 Bedrooms | $1,540 |
| 4 Bedrooms | $1,700 |
| 5 Bedrooms | $1,972 |
| 6 Bedrooms | $2,209 |
| 7 Bedrooms | $2,386 |
| 8 Bedrooms | $2,505 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,290 | $93,520 | 1.38% | A |
| 3BR | $1,540 | $165,363 | 0.93% | C |
| 4BR | $1,700 | $201,853 | 0.84% | C |
| 5BR | $1,972 | $232,958 | 0.85% | C |
U.S. Census Bureau data (2024)
A skeptical investor considering Ulysses, KS (ZIP 67880) might raise several concerns regarding the viability of investing in Section 8 properties here. Let's address these concerns using the available data.
Objection 1: Will Fair Market Rent (FMR) of $1,170 (for the fiscal year 2026) cover the mortgage on a $152,895 home?
The FMR of $1,170 does not directly indicate whether it will cover the mortgage on a $152,895 home. To determine this, we need to calculate the monthly mortgage payment based on typical financing terms such as interest rate and loan term. However, without those specifics, we can estimate that a $1,170 monthly rental income might be insufficient to cover the mortgage payment alone, especially if the property is financed at a higher interest rate. Typically, mortgage payments for a home in this price range could exceed the FMR depending on the loan terms.
Objection 2: Is there enough renter demand at 24.8%?
The percentage of renter-occupied housing units at 24.8% suggests that there is a relatively low demand for rental properties compared to owner-occupied homes. This could mean that finding tenants might be challenging. However, the demand for affordable housing in Ulysses is still present, and the 24.8% figure indicates that nearly a quarter of the housing stock is rented out. For Section 8 investors, the focus should be on the number of households eligible for assistance rather than the overall rental demand percentage. The data does not provide the number of households eligible for Section 8 assistance, so we cannot definitively state the level of demand for subsidized rentals.
Objection 3: Will vouchers keep pace with market rents of $721?
The FMR of $1,170 is significantly higher than the market rent of $721, which implies that voucher holders might find it easier to afford a home in Ulysses. However, the question of whether vouchers will keep pace with market rents depends on future adjustments to the voucher amounts and local rent increases. The data does not specify how often or by how much voucher amounts are adjusted. It is important to note that the gap between market rents and voucher amounts can vary, affecting the ability of voucher holders to cover the full rent. In Ulysses, the lower market rent suggests that vouchers are likely to cover a larger portion of the total rent, making the area more attractive for landlords willing to accept them.
In summary, while the data provides insights into the financial feasibility of Section 8 investments in Ulysses, KS (ZIP 67880), it does not fully address all concerns. Investors must consider additional factors such as financing terms and the number of households eligible for Section 8 assistance when evaluating the potential returns and challenges of renting in this area.
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.