66442

ZIPSAFMR

Riley County, KS

ZIP Investment Score

095130300

BR	FMR	Eff. Rent	3Y CAGR
0 BR	$1,070	$1,150	4.0%
1 BR	$1,160	$1,190	6.5%
2 BR	$1,370	$1,270	3.9%
3 BR	$1,890	$1,360	4.2%
4 BR	$2,290	$1,660	3.4%
5 BR	$2,634	Not available	3.4%
6 BR	$3,029	Not available	3.4%
7 BR	$3,483	Not available	3.4%
8 BR	$4,005	Not available	3.4%

Purchase Price Calculator

Maximum purchase price

$126,805

Cost breakdown

+Likely effective rent$1,270

HUD FMR$1,370

Market rentUsed$1,270

Est. payment standard (95%)$1,310

-Principal and interest-$641

Loan amount$101,444

Down payment$25,361

Rate6.50%

Term30 years

-Operating costs-$429

Property taxes-$127

Insurance-$175

Utilities$0

HOA$0

Management-$127

=Target cash flow+$200

Calculation mode

BedroomsCash-flow target

Down payment methodDown payment %

HOA / mo

Utilities methodUtilities amount

Management methodManagement % of rent

Hold period projections

Annual appreciation rate

3-year hold

+$20,585(81.2% ROI)

Projected value

$136,555

Return breakdown

Property appreciation+$9,750

Loan principal paid down+$3,634

Rental cash flow+$7,200

5-year hold

+$35,144(138.6% ROI)

Projected value

$143,468

Return breakdown

Property appreciation+$16,663

Loan principal paid down+$6,481

Rental cash flow+$12,000

10-year hold

+$74,960(295.6% ROI)

Projected value

$162,321

Return breakdown

Property appreciation+$35,516

Loan principal paid down+$15,444

Rental cash flow+$24,000

Public Housing Authority

Rolodex

Market Alignment

Studio

0.90ratio

FMR$1,070

Market$1,190

vs market-$120

FMR is below market; voucher rent may lag private rents.

0.90

1 BR

0.97ratio

FMR$1,160

Market$1,200

vs market-$40

FMR is near market; voucher and private rents are aligned.

0.97

2 BR

1.08ratio

FMR$1,370

Market$1,270

vs market+$100

FMR is near market; voucher and private rents are aligned.

1.08

3 BR

1.39ratio

FMR$1,890

Market$1,360

vs market+$530

FMR is above market; underwrite to market rent.

1.39

4 BR

1.38ratio

FMR$2,290

Market$1,660

vs market+$630

FMR is above market; underwrite to market rent.

1.38

0.700.800.901.001.101.201.30aligned range

Historical

FY 2023-2027

FMR: FY2027
Market rent: last ~365 days
Property value: --
Tax rate: --
Mortgage rate: --

ZIP 66442 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 66442 (Fort Riley, KS) is $1,370 a month. That is up 3.8% from $1,320 in FY 2026. Fort Riley is in the Manhattan, KS HUD Metro FMR Area. HUD also publishes the ZIP-level Small Area FMRs shown here, but unless the local housing authority has adopted them, vouchers are based on the metro-wide two-bedroom FMR of $1,107. Among 14 ZIP codes in Riley County, 66442 has the highest two-bedroom rent (county range $970–$1,370). The median county two-bedroom FMR in Kansas is $961, so ZIP 66442 is 43% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 66442
Bedrooms	FY 2026	FY 2027	Change	90–110% range
Studio	$1,070	$1,070	0.0%	$963–$1,177
1BR	$1,070	$1,160	+8.4%	$1,044–$1,276
2BR	$1,320	$1,370	+3.8%	$1,233–$1,507
3BR	$1,830	$1,890	+3.3%	$1,701–$2,079
4BR	$2,210	$2,290	+3.6%	$2,061–$2,519

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 66442
Fiscal year	Studio	1BR	2BR	3BR	4BR
FY 2027	$1,070	$1,160	$1,370	$1,890	$2,290
FY 2026	$1,070	$1,070	$1,320	$1,830	$2,210
FY 2025	$970	$970	$1,240	$1,710	$2,080
FY 2024	$950	$960	$1,220	$1,670	$2,070
FY 2023	$840	$850	$1,070	$1,450	$1,820

Two-bedroom rent in nearby Riley County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code	2 bedroom	vs. 66442
66411	$1,300	−5.1%
66442Current	$1,370	—
66449	$970	−29.2%
66502	$1,080	−21.2%
66503	$1,270	−7.3%
66505	$1,110	−19.0%
66506	$1,080	−21.2%
66517	$1,260	−8.0%
66531	$1,270	−7.3%
66548	$1,020	−25.5%
66554	$1,080	−21.2%
66933	$1,160	−15.3%

Questions about ZIP 66442 rents

How much will Section 8 pay for a two-bedroom in ZIP 66442?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,107, which applies unless the housing authority uses Small Area FMRs, that basic range is $996 to $1,218 a month; under the ZIP-level Small Area FMR of $1,370 it would be $1,233 to $1,507. 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 66442 in?

ZIP 66442 is in the Manhattan, KS HUD Metro FMR Area. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,107.

How much did fair market rent change in ZIP 66442 for FY 2027?

The two-bedroom FMR rose 3.8%, from $1,320 in FY 2026 to $1,370 in FY 2027. Since FY 2023 it has risen 28.0%.

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 rent Fort Riley, KS fair market rent KS statewide rents What is SAFMR?Data sources