Location: Wichita, KS | Metro: Wichita, KS HUD Metro FMR Area
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 | $1,160 |
| 1 Bedroom | $1,230 |
| 2 Bedrooms | $1,560 |
| 3 Bedrooms | $2,070 |
| 4 Bedrooms | $2,560 |
| 5 Bedrooms | $2,970 |
| 6 Bedrooms | $3,326 |
| 7 Bedrooms | $3,592 |
| 8 Bedrooms | $3,772 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,560 | $256,639 | 0.61% | D |
| 3BR | $2,070 | $279,600 | 0.74% | D |
| 4BR | $2,560 | $338,212 | 0.76% | D |
| 5BR | $2,970 | $417,602 | 0.71% | D |
U.S. Census Bureau data (2024)
The classification of ZIP 67002 (Andover, KS) on the axes of yield and stability reveals a moderate investment opportunity. The Fair Market Rent (FMR) for ZIP 67002 in fiscal year 2024 is set at $1,530, which is slightly below the market rent of $1,681. This indicates a reasonable yield potential but not at the level of a high-yield market. With an average home value of $325,665, the FMR represents a rental income that is 47% of the home's value when annualized, suggesting a balanced yield.
Moving to stability, Andover presents a mixed picture. Only 19.5% of residents are renters, which is relatively low and might imply less demand for rental properties compared to areas with higher percentages of renters. However, the days on market (DOM) is 77 days, which is acceptable for a stable market, indicating that homes are sold within a reasonable timeframe without excessive vacancy periods. Additionally, the median household income of $104,351 provides a solid financial base for tenants, supporting a steady cash flow scenario.
To summarize, ZIP 67002 leans towards a steady-cashflow zone rather than a high-yield/low-stability market. The yield is decent but not outstanding, given the FMR and market rent figures. Stability is maintained by a reasonable DOM and a strong median income, despite the lower percentage of renters. Landlords and small-portfolio investors should find this area appealing for its consistent returns and manageable risk.
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.