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 | $890 |
| 1 Bedroom | $950 |
| 2 Bedrooms | $1,200 |
| 3 Bedrooms | $1,590 |
| 4 Bedrooms | $1,970 |
| 5 Bedrooms | $2,285 |
| 6 Bedrooms | $2,559 |
| 7 Bedrooms | $2,764 |
| 8 Bedrooms | $2,902 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,200 | $278,677 | 0.43% | F |
| 3BR | $1,590 | $306,118 | 0.52% | F |
| 4BR | $1,970 | $402,741 | 0.49% | F |
| 5BR | $2,285 | $562,513 | 0.41% | F |
U.S. Census Bureau data (2024)
The ZIP code 67206 in Wichita, KS, has a population of 17,380 residents, with 41.2% being renters. This indicates a significant portion of the population that relies on rental housing, making it a viable area for landlords and small-portfolio investors interested in attracting Section 8 tenants. The median household income in this ZIP code is $82,252, which contrasts with the market rent of $1,018 per month.
Typical rent consumes approximately 14.8% of the median household income, calculated by dividing the market rent ($1,018) by the annual median income ($82,252) and multiplying by 12. This percentage suggests that while rent is a considerable expense, it is still manageable for most households without relying solely on government assistance.
Comparing the market rent to the Fair Market Rent (FMR) set by HUD at $1,160 for FY 2024, we see that the current market rent is below the FMR. This means that landlords in ZIP 67206 can potentially attract tenants who qualify for Section 8 vouchers, as the lower rent aligns well with the voucher amount available.
A landlord in this ZIP code should expect a mix of tenants, including those who might use Section 8 vouchers due to the significant rental market and the affordability of the rents relative to the median income. However, the relatively high median income compared to the market rent implies that there could also be a substantial number of tenants who do not require assistance and can pay market rates.
To conclude, ZIP 67206 presents a favorable environment for landlords looking to engage with a diverse tenant pool, including those benefiting from Section 8 vouchers. The balance between rental demand and income levels supports a sustainable market where both assisted and non-assisted tenants can coexist effectively.
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.