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 | $760 |
| 1 Bedroom | $820 |
| 2 Bedrooms | $1,060 |
| 3 Bedrooms | $1,340 |
| 4 Bedrooms | $1,550 |
| 5 Bedrooms | $1,798 |
| 6 Bedrooms | $2,014 |
| 7 Bedrooms | $2,175 |
| 8 Bedrooms | $2,284 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,340 | $330,778 | 0.41% | F |
U.S. Census Bureau data (2024)
The rent math for ZIP 67120 does not work in favor of landlords seeking to participate in the Section 8 program. The Fair Market Rent (FMR) set at $1010 for the fiscal year 2024 is below the typical market rent, which is currently unavailable. This discrepancy means that landlords might struggle to cover operational costs and profit margins if they solely rely on Section 8 tenants.
Regarding the affordability of acquisitions, the median home value in ZIP 67120 stands at $303,392. Without specific data on the days on market (DOM) and the percentage of homes needing price cuts, it's challenging to provide a precise assessment. However, the median home value suggests that purchasing properties in this area would be a significant investment, potentially out of reach for smaller portfolio investors.
Tenant demand is relatively low in ZIP 67120. With a total population of 575 and only 5.8% being renters, the pool of potential Section 8 tenants is limited. This small number indicates that finding qualified tenants could be difficult, especially given the constraints of the Section 8 program.
Verdict: ZIP 67120 presents a challenging environment for landlords and small-portfolio investors interested in the Section 8 program. The rent math is unfavorable due to the FMR being below the likely market rent, making it difficult to achieve profitability. Acquisition costs are high, with the median home value exceeding $303,000, which may deter smaller investors. Lastly, the limited tenant demand, with only a 5.8% renter share in a small population, further complicates the feasibility of investing in this ZIP code under the Section 8 umbrella. Overall, the risks outweigh the benefits in this particular market segment.
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.