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Johnson County/Overland Park/66223

66223

ZIPSAFMR
Johnson County, KS
Zillow

ZIP Investment Score

88Below average

095130300
BRFMR
Eff. Rent
0 BR$1,650$1,300
1 BR$1,790$1,410
2 BR$2,030$1,960
3 BR$2,650$2,220
4 BR$3,180$2,710
5 BR$3,657Not available
6 BR$4,206Not available
7 BR$4,836Not available
8 BR$5,562Not available

Purchase Price Calculator

Maximum purchase price
$229,339

Cost breakdown

+Likely effective rent$1,960
HUD FMR$2,030
Market rentUsed$1,960
Est. payment standard (98%)$1,980
-Principal and interest-$1,160
Loan amount$183,471
Down payment$45,868
Rate6.50%
Term30 years
-Operating costs-$600
Property taxes-$229
Insurance-$175
Utilities$0
HOA$0
Management-$196
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$31,407(68.5% ROI)
Projected value
$246,973
Return breakdown
Property appreciation+$17,634
Loan principal paid down+$6,573
Rental cash flow+$7,200
5-year hold
+$53,859(117.4% ROI)
Projected value
$259,476
Return breakdown
Property appreciation+$30,137
Loan principal paid down+$11,722
Rental cash flow+$12,000
10-year hold
+$116,166(253.3% ROI)
Projected value
$293,573
Return breakdown
Property appreciation+$64,234
Loan principal paid down+$27,931
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.27
1 BR
1.27
2 BR
1.04
3 BR
1.19
4 BR
1.17
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 66223 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 66223 (Overland Park, KS) is $2,030 a month. That is up 12.2% from $1,810 in FY 2026. Overland Park is in the Kansas City, MO-KS HUD Metro FMR Area, where HUD requires housing authorities to set voucher payment standards by ZIP code using Small Area FMRs. Among 46 ZIP codes in Johnson County, 66223 has the 10th-highest two-bedroom rent (county range $1,300–$2,320). The median county two-bedroom FMR in Kansas is $961, so ZIP 66223 is 111% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 66223
BedroomsFY 2027Change90–110% range
Studio$1,650+13.0%$1,485–$1,815
1BR$1,790+11.9%$1,611–$1,969
2BR$2,030+12.2%$1,827–$2,233
3BR$2,650+12.3%$2,385–$2,915
4BR$3,180+13.6%$2,862–$3,498

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 66223
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,650$1,790$2,030$2,650$3,180
FY 2026$1,460$1,600$1,810$2,360$2,800
FY 2025$1,450$1,600$1,820$2,370$2,810
FY 2024$1,350$1,510$1,730$2,260$2,660
FY 2023$1,330$1,510$1,750$2,300$2,670

Two-bedroom rent in nearby Johnson County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 66223
66215$1,750−13.8%
66216$1,700−16.3%
66217$1,700−16.3%
66218$2,170+6.9%
66219$1,960−3.4%
66220$1,740−14.3%
66221$2,040+0.5%
66223Current$2,030—
66224$2,140+5.4%
66225$1,740−14.3%
66226$1,640−19.2%
66227$2,320+14.3%

Questions about ZIP 66223 rents

How much will Section 8 pay for a two-bedroom in ZIP 66223?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $2,030, that basic range is $1,827 to $2,233 a month. The voucher pays the lower of the payment standard or the gross rent, minus the tenant's share, which is usually about 30% of adjusted monthly income. Confirm the local housing authority's current schedule before underwriting.

Which HUD fair market rent area is ZIP 66223 in?

ZIP 66223 is in the Kansas City, MO-KS HUD Metro FMR Area. HUD requires Small Area FMRs in this area, so payment standards are set by ZIP code.

How much did fair market rent change in ZIP 66223 for FY 2027?

The two-bedroom FMR rose 12.2%, from $1,810 in FY 2026 to $2,030 in FY 2027. Since FY 2023 it has risen 16.0%.

When do FY 2027 fair market rents take effect?

HUD's FY 2027 fair market rents took effect on October 1, 2026. When FMRs change, housing authorities generally have up to three months to bring payment standards back within 90% to 110% of the new FMR.

Source: HUD FY 2027 Small Area Fair Market Rents and area FMRs. Payment-standard ranges are 90% to 110% of FMR, HUD's basic range, not a housing authority's published schedule. How payment standards are set

County fair market rentOverland Park, KS fair market rentKS statewide rentsWhat is SAFMR?Data sources