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 | $730 |
| 1 Bedroom | $770 |
| 2 Bedrooms | $980 |
| 3 Bedrooms | $1,300 |
| 4 Bedrooms | $1,610 |
| 5 Bedrooms | $1,868 |
| 6 Bedrooms | $2,092 |
| 7 Bedrooms | $2,259 |
| 8 Bedrooms | $2,372 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $980 | $202,584 | 0.48% | F |
| 3BR | $1,300 | $254,757 | 0.51% | F |
| 4BR | $1,610 | $323,246 | 0.5% | F |
| 5BR | $1,868 | $400,464 | 0.47% | F |
U.S. Census Bureau data (2024)
In ZIP code 67147 in Park City, KS, investing in Section 8 properties comes with notable risks that must be carefully considered. Tenant turnover is a significant concern, with the market rent at $832 falling far below the Fair Market Rent (FMR) of $1130 for fiscal year 2024. This discrepancy suggests that tenants may seek higher-paying opportunities outside the subsidized housing market, leading to frequent changes in occupancy. The vacancy exposure is also high due to the lack of data on days on market (DOM), indicating uncertainty around how quickly units can be filled once they become vacant.
The deferred-maintenance exposure is another critical factor. With a typical home value of $275,001 and a median income of $88,006, homeowners might delay necessary repairs and maintenance, particularly if their income does not sufficiently cover the costs. This can lead to increased wear and tear on properties, necessitating greater investment from landlords to maintain habitable conditions.
However, these risks are somewhat mitigated by the high renter share of 22.5%. A substantial portion of the population renting indicates a robust demand for housing, which typically translates into a higher demand for Section 8 vouchers. This ensures that there is a pool of qualified tenants who can afford the subsidized rents, reducing the overall risk of vacancy.
Verdict: Moderate risk for a first-time Section 8 landlord in ZIP 67147.
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.