Location: Cowley 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 | $930 |
| 1 Bedroom | $990 |
| 2 Bedrooms | $1,270 |
| 3 Bedrooms | $1,650 |
| 4 Bedrooms | $1,970 |
| 5 Bedrooms | $2,285 |
| 6 Bedrooms | $2,559 |
| 7 Bedrooms | $2,764 |
| 8 Bedrooms | $2,902 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,270 | $171,464 | 0.74% | D |
| 3BR | $1,650 | $227,660 | 0.72% | D |
| 4BR | $1,970 | $284,744 | 0.69% | D |
| 5BR | $2,285 | $364,231 | 0.63% | D |
U.S. Census Bureau data (2024)
The ZIP code 67110, located in Mulvane, Kansas, presents a market where demand slightly edges out supply, evidenced by the snapshot of current market conditions. The Fair Market Rent (FMR) for the area is set at $1020 for fiscal year 2024, while the actual market rent, as measured by Zillow's Observed Rental Index (ZORI), stands at $1,113. This suggests that the rental market is robust, with rents above the government-set threshold, indicating a healthy demand for rental properties.
A key indicator of market health is the price-cut share, which for ZIP 67110 is an extremely low 0.1%. This figure implies that few landlords are forced to lower their asking rents, suggesting strong competition among renters and limited need for price adjustments. The median home value of $235,028 provides context on the overall affordability and desirability of the area, but the lack of data on days on market (DOM) means we cannot conclusively determine the speed at which homes are selling.
The 15.8% renter share in ZIP 67110 is noteworthy. This percentage indicates a significant portion of the population chooses to rent rather than own. While it is not exceptionally high, it does suggest a steady demand for rental units, which can be indicative of long-term housing pressure. This pressure could stem from various factors such as affordability issues, job instability, or lifestyle preferences that favor renting over buying.
In summary, the dynamics in ZIP 67110 point towards a rental market that is currently balanced but leans towards demand outpacing supply. The low price-cut share and the presence of a substantial renter base imply a stable rental environment with consistent tenant interest. For landlords and small-portfolio investors, this ZIP code offers a promising opportunity to capitalize on the existing rental demand without facing the challenges often associated with oversupply.
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.