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 | $840 |
| 1 Bedroom | $880 |
| 2 Bedrooms | $1,120 |
| 3 Bedrooms | $1,480 |
| 4 Bedrooms | $1,840 |
| 5 Bedrooms | $2,134 |
| 6 Bedrooms | $2,390 |
| 7 Bedrooms | $2,581 |
| 8 Bedrooms | $2,710 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,120 | $138,368 | 0.81% | C |
| 3BR | $1,480 | $217,541 | 0.68% | D |
| 4BR | $1,840 | $376,863 | 0.49% | F |
U.S. Census Bureau data (2024)
The ZIP code 67144, located in Towanda, KS, has a population of 2,712 residents. Among them, 18.4% are renters, indicating that this is primarily a homeowner-dominated area rather than a renter-heavy ZIP. The median household income in this region stands at $73,589, which provides context for evaluating the suitability of the area for Section 8 tenants.
A typical market rent of $1,125 in this ZIP exceeds the Fair Market Rent (FMR) set at $990 for FY 2024. This suggests that landlords may face challenges in finding tenants who can afford the higher rents without subsidies. For those relying on Section 8 vouchers, the rent-to-income ratio becomes crucial. A $1,125 monthly rent would consume approximately 17.7% of the median household income in this area, which is relatively high and could strain budgets for lower-income families.
To further analyze the potential for Section 8 tenants, it's important to consider the depth of voucher demand. In a ZIP code where only 18.4% of the population are renters, the demand for vouchers might be less pronounced compared to areas with a higher percentage of renters. However, given the income levels, there will still be a segment of the population that qualifies for and requires housing assistance.
Landlords in ZIP 67144 should anticipate a tenant pool that includes individuals and families with incomes below 50% of the Area Median Income (AMI), as they are eligible for Section 8 vouchers. These tenants will likely seek properties that align closely with the FMR of $990, making it necessary for landlords to adjust their rental rates accordingly to attract these tenants. Additionally, landlords must be prepared to comply with the regulations and requirements associated with accepting Section 8 tenants, including periodic inspections and rent increases tied to HUD guidelines.
In conclusion, while ZIP 67144 is not heavily populated with renters, there exists a viable market for Section 8 tenants due to the presence of lower-income households. Landlords should aim to offer competitive rents that match the FMR to effectively serve this demographic and ensure occupancy.
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.