Location: Cowley County, KS | Metro: Wichita, KS HUD Metro FMR Area
| 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 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 67072 in fiscal year 2024 is set at $880. This figure represents the maximum amount that landlords can charge for rent under the Section 8 Housing Choice Voucher program. It's important to note that this is not necessarily the actual rent you will receive; it's the payment standard used by the government to determine the maximum rental assistance payment.
In comparison, the average rent for the area, according to Census American Community Survey data, is $578. This suggests that the FMR is higher than the typical market rate, which could be beneficial for landlords participating in the Section 8 program. However, it also means that you must ensure your property meets certain quality standards to justify the higher rent.
The percentage of renters in ZIP 67072 is 63.4%, indicating a strong demand for rental properties. With such a high proportion of residents renting, there is likely a steady pool of potential tenants who qualify for Section 8 assistance. This can provide stability for landlords, as the government guarantees timely payments up to the FMR.
Regarding acquisition costs, the data shows an 'N/A', meaning there isn't specific information available on the cost to acquire a property in this ZIP code. However, the difference between the FMR and the average rent suggests that the acquisition costs might be lower relative to the rental income you could receive through the Section 8 program.
Before committing to a Section 8 rental property, verify that your property complies with the Housing Quality Standards (HQS). These standards are designed to ensure that rental units are safe and habitable. Meeting these requirements is essential because they directly impact your eligibility to participate in the program and receive the guaranteed $880 payment standard.
Data Sources: FMR data from HUD (2027). 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.