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 | $780 |
| 1 Bedroom | $820 |
| 2 Bedrooms | $1,040 |
| 3 Bedrooms | $1,380 |
| 4 Bedrooms | $1,710 |
| 5 Bedrooms | $1,984 |
| 6 Bedrooms | $2,222 |
| 7 Bedrooms | $2,400 |
| 8 Bedrooms | $2,520 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,040 | $152,634 | 0.68% | D |
| 3BR | $1,380 | $252,270 | 0.55% | F |
| 4BR | $1,710 | $311,752 | 0.55% | F |
U.S. Census Bureau data (2024)
The median income in ZIP 67154, which encompasses Whitewater, Kansas, stands at $67,813. Given the market rate for rent at $588 per month according to Census ACS data, it initially seems that residents could afford their housing costs. However, when comparing this figure to the federal payment standard of $950 for a Fair Market Rent (FMR) voucher in fiscal year 2024, the situation becomes more complex.
A household earning the median income would struggle to meet the FMR voucher payment standard of $950 per month without significant financial strain. This indicates a notable affordability gap where the market rate is below the voucher standard, suggesting that landlords might receive higher payments through voucher recipients compared to typical market-rate tenants.
In ZIP 67154, only 16.5% of the 1,290-person population are renters. This limited rental market means that landlords face less competition for tenants, but it also implies that finding cash-paying renters who can afford the market rate might be challenging due to the overall lower income levels. The scarcity of renters in the area could drive up demand for the available rental units, potentially increasing renter willingness to pay closer to the voucher standard.
Landlords considering their strategy should recognize that accepting voucher tenants could provide a more stable income source, given the higher payment standard compared to the current market rate. Vouchers ensure timely payments and can cover the cost of rent more reliably, despite the administrative overhead involved. For those aiming to maximize immediate cash flow, focusing on cash-paying tenants might require lowering rent expectations to align with the local median income.
Takeaway: In ZIP 67154, landlords have a strategic choice between leveraging the higher payment standard of vouchers or adjusting their rental rates to attract more cash-paying tenants. Accepting vouchers offers a path to higher, more reliable rental income, whereas targeting cash-paying tenants requires a keen understanding of the local affordability landscape.
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.