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 | $790 |
| 1 Bedroom | $840 |
| 2 Bedrooms | $1,060 |
| 3 Bedrooms | $1,400 |
| 4 Bedrooms | $1,740 |
| 5 Bedrooms | $2,018 |
| 6 Bedrooms | $2,260 |
| 7 Bedrooms | $2,441 |
| 8 Bedrooms | $2,563 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $840 | $97,416 | 0.86% | C |
| 2BR | $1,060 | $140,753 | 0.75% | D |
| 3BR | $1,400 | $191,882 | 0.73% | D |
| 4BR | $1,740 | $218,429 | 0.8% | D |
| 5BR | $2,018 | $253,790 | 0.8% | D |
U.S. Census Bureau data (2024)
The ZIP code 67203 in Wichita, Kansas, stands out among other areas due to its unique demographic and economic characteristics. With a population of 30,710 residents, it has a significant rental market share of 53.3%, indicating a strong demand for apartments and houses for rent. The median income here is $52,028, which is slightly below the national average but still supports a decent quality of life. Notably, the median home value is $162,968, reflecting an affordable housing market.
Moving to the specifics of Section 8 housing assistance, the Fair Market Rent (FMR) for ZIP 67203 in fiscal year 2024 is set at $990. This compares favorably to the market rate, as indicated by the ZORI (Zillow Rent Index), which is $1,232. Landlords can leverage this discrepancy to offer competitive rents that align with the financial capabilities of potential tenants receiving housing vouchers. The lower FMR allows landlords to participate in the Section 8 program without significantly compromising their profit margins.
Given the data, ZIP 67203 presents a stable environment for landlords and small-portfolio investors. The high percentage of renters suggests consistent demand, while the median income and home values indicate a balanced local economy. However, the gap between FMR and market rates also signals a transitional aspect where landlords can adjust their strategies to better align with the realities of the housing voucher system. Overall, the area offers a solid foundation for investment, with opportunities for strategic adjustments to capitalize on the dynamics of the rental market.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.