Location: Kingman 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 | $770 |
| 1 Bedroom | $800 |
| 2 Bedrooms | $1,050 |
| 3 Bedrooms | $1,450 |
| 4 Bedrooms | $1,760 |
| 5 Bedrooms | $2,042 |
| 6 Bedrooms | $2,287 |
| 7 Bedrooms | $2,470 |
| 8 Bedrooms | $2,594 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,450 | $198,097 | 0.73% | D |
U.S. Census Bureau data (2024)
The analysis of ZIP code 67118 reveals a unique blend of yield and stability that can inform investment strategies for landlords and small-portfolio investors.
On the yield axis, the Fair Market Rent (FMR) for the area stands at $990 for fiscal year 2024, while the market rent is slightly higher at $1,044. This indicates a modest premium landlords might command over the FMR if they manage to attract tenants willing to pay market rates. However, the median home value of $192,404 suggests that property acquisition costs are relatively high compared to rental incomes. This implies that achieving high yields through traditional rental operations might be challenging unless investors leverage economies of scale or focus on maximizing occupancy rates.
Moving to the stability axis, we observe that 28.8% of residents are renters, which is a significant portion but not overwhelmingly dominant. The lack of data on days on market (DOM) makes it difficult to assess the ease with which properties can be rented out or sold. However, the median household income of $57,500 provides some insight into the financial health of potential tenants, suggesting a moderate level of stability in rental payments.
Given these metrics, ZIP 67118 does not fit neatly into either a high-yield/low-stability flip-style market or a steady-cashflow zone. Instead, it represents a middle ground where investors must balance the pursuit of yield against the need for stability. The relatively low FMR and market rents compared to the high median home value indicate a scenario where quick flips might not be as lucrative due to the cost of acquiring properties. On the other hand, the moderate renter population and median income suggest that while steady cash flow is possible, it may not be as reliable as in areas with higher percentages of renters or longer tenancy periods.
To succeed in this market, investors should consider diversifying their portfolios and possibly focusing on value-add opportunities to improve yields without sacrificing stability. This could involve investing in property improvements that justify higher rents or finding ways to reduce vacancy rates and ensure consistent tenant quality.
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.