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 | $880 |
| 1 Bedroom | $940 |
| 2 Bedrooms | $1,200 |
| 3 Bedrooms | $1,560 |
| 4 Bedrooms | $1,880 |
| 5 Bedrooms | $2,181 |
| 6 Bedrooms | $2,443 |
| 7 Bedrooms | $2,638 |
| 8 Bedrooms | $2,770 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,560 | $380,381 | 0.41% | F |
U.S. Census Bureau data (2024)
The rent math in ZIP code 67149, part of the Wichita, KS HUD Metro FMR Area, does not clearly favor landlords based on the available data. The Fair Market Rent (FMR) for the area is set at $1110 for fiscal year 2024. However, the market rent is listed as N/A, which means there is insufficient data to compare against the FMR. This ambiguity makes it difficult to assess whether the rent charged aligns with the fair market standards.
Acquisition affordability is a mixed bag. With a median home value of $378,777, purchasing property in this area is not cheap but is also not excessively expensive. The lack of data on days on market (DOM) and the percentage of homes that were sold with price cuts suggests that the real estate market might be stable, though without concrete figures, it's hard to make a definitive judgment. Landlords should carefully consider their budget and the potential for holding properties longer before making an acquisition decision.
Tenant demand in ZIP 67149 is low. The total population is 844, and only 1.1% of that is renters. This indicates that there is a limited pool of potential tenants, which could pose challenges for maintaining occupancy rates. Given the small number of residents and the even smaller percentage of those who are likely to be seeking rental housing, landlords would need to ensure they have competitive offerings to attract and retain tenants.
Verdict: While the median home value in ZIP 67149 suggests a potentially stable real estate market, the lack of comprehensive data on market rents and sales dynamics introduces significant uncertainty. Additionally, the low tenant demand makes this area less attractive for investment in rental properties. Landlords should proceed with caution, focusing on understanding local rental trends and ensuring their properties offer strong value propositions to the limited number of potential renters.
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.