Location: Sumner County, 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 | $810 |
| 1 Bedroom | $890 |
| 2 Bedrooms | $1,160 |
| 3 Bedrooms | $1,420 |
| 4 Bedrooms | $1,530 |
| 5 Bedrooms | $1,775 |
| 6 Bedrooms | $1,988 |
| 7 Bedrooms | $2,147 |
| 8 Bedrooms | $2,254 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,160 | $121,109 | 0.96% | C |
| 3BR | $1,420 | $204,074 | 0.7% | D |
| 4BR | $1,530 | $307,554 | 0.5% | F |
U.S. Census Bureau data (2024)
The market analysis for Section 8 investors in ZIP code 67031, Conway Springs, Kansas, reveals a rental market that is moderately aligned with the Federal Housing Administration's Fair Market Rent (FMR) standards. For fiscal year 2024, the HUD FMR for the area is set at $950, while the Census American Community Survey (ACS) indicates an average market rent of $1,078. This discrepancy suggests that landlords who accept Section 8 vouchers will experience marginal cash flow at the FMR rate. To achieve positive cash flow, landlords must either offer premium units that justify higher rents or manage their properties efficiently to minimize operating costs.
To further contextualize these figures, consider the median home value in the area, which stands at $195,057. Using this figure, we can calculate a rent-to-price ratio of approximately 0.55%. This relatively low ratio implies that the area is more favorable for rental investment over home ownership, as it would take significantly longer to recoup the cost of purchasing a property through rental income alone.
The dynamics between renting and buying are crucial for understanding the overall market health and potential for investment. However, in this case, the median Days on Market (DOM) and the percentage of price cuts are not available, making it difficult to assess how quickly homes sell and at what price adjustments. Despite this lack of data, the current trends suggest that the rental market remains robust, with steady demand for affordable housing options.
In conclusion, the strongest angle for investors in ZIP 67031 is likely to be cash flow, given the marginal returns at the HUD FMR rate and the need to optimize property management practices to ensure profitability. The combination of stable demand and manageable competition makes this area a solid choice for those focused on generating consistent rental income.
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.