Location: Wichita, 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 | $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 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,270 | $141,343 | 0.9% | C |
U.S. Census Bureau data (2024)
The ZIP code 67123 in the HUD Metro FMR Area of Wichita, KS, is best suited as a cash-flow anchor within a Section 8 portfolio strategy. The Fair Market Rent (FMR) for the area in fiscal year 2024 is set at $880, which closely aligns with the market rent of $890. This indicates that properties in this ZIP code can be rented out at or near the FMR without significant adjustments, ensuring steady cash flow.
The median home value in ZIP 67123 is $117,816. Given the modest difference between the FMR and the market rent ($10), landlords can expect to maintain consistent income from their rental properties. This stability is crucial for a cash-flow anchor, as it provides predictable revenue that can offset potential losses or fluctuations in other parts of an investment portfolio.
While the ZIP code does not offer strong indicators for an appreciation play—there's no percentage given for price-cut share or days on market (DOM)—the 7.7% renter share suggests a relatively low concentration of renters compared to owners. This could make it less volatile in terms of rental demand. Additionally, the median income of $52,063 is indicative of a stable economic environment, supporting the idea that tenants will likely have the means to consistently pay their rent.
Incorporating ZIP 67123 into a Section 8 portfolio ensures a reliable source of income. Landlords should focus on maintaining properties to meet the standards required by the Section 8 program while keeping rents aligned with the FMR to maximize cash flow. This ZIP code offers a solid foundation for those looking to secure long-term, stable returns through government-backed rental assistance programs.
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.