Section 8 Fair Market Rent (FMR) for ZIP 67042 - 2027

Location: Wichita, KS | Metro: Wichita, KS HUD Metro FMR Area

Investment Score for ZIP 67042

Monthly Rent (2BR)

$960

Median Price (2BR)

$113,967

1% Rule

0.84%

Annual Yield

10.11%

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$720
1 Bedroom	$760
2 Bedrooms	$960
3 Bedrooms	$1,270
4 Bedrooms	$1,580
5 Bedrooms	$1,833
6 Bedrooms	$2,053
7 Bedrooms	$2,217
8 Bedrooms	$2,328

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
1BR	$760	$80,502	0.94%	C
2BR	$960	$113,967	0.84%	C
3BR	$1,270	$185,144	0.69%	D
4BR	$1,580	$265,692	0.59%	F
5BR	$1,833	$310,724	0.59%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

16,978

Median Household Income

$62,857

Housing Units

7,348

Renter Percentage

34.6%

Occupancy Rate

88.5%

Renter Occupied

2,247

The ZIP code 67042, located in El Dorado, Kansas, presents a modest but stable housing market. This region is characterized by a mix of homeowners and renters, with rental properties being a significant part of the local economy. The following analysis delves into key metrics that are crucial for landlords and small-portfolio investors considering investments in this area.

The Fair Market Rent (FMR) for a two-bedroom apartment in ZIP 67042 for fiscal year 2024 is set at $930.
The actual market rent, as measured by the Zillow Observed Rent Index (ZORI), stands at $838 for a similar unit, indicating that the market is slightly below the FMR.
The median home value in the area is $168,551, which is relatively affordable compared to larger metropolitan areas.
Renters make up a substantial portion of the population, with a 34.6% renter share, suggesting a steady demand for rental properties.
The Days on Market (DOM) for rental listings is 38 days, which is a reasonable period indicating that rentals are generally well-aligned with tenant preferences.
The median household income in the area is $62,857, providing a baseline for the financial capacity of potential tenants and buyers.

Given these metrics, El Dorado, Kansas, offers a balanced investment opportunity for those interested in rental properties. The gap between the FMR and ZORI suggests room for slight rent increases without pricing out the local market. With a significant renter share and a moderate DOM, the demand for rental units is strong and consistent. The median home value and income levels indicate a stable economic environment, suitable for both rental and property flipping investments. Investors should be aware of the local trends and adjust their strategies accordingly to capitalize on the existing market conditions.

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.