Section 8 Fair Market Rent (FMR) for ZIP 67212 - 2027

Investment Score for ZIP 67212

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$810
1 Bedroom	$860
2 Bedrooms	$1,090
3 Bedrooms	$1,440
4 Bedrooms	$1,790
5 Bedrooms	$2,076
6 Bedrooms	$2,325
7 Bedrooms	$2,511
8 Bedrooms	$2,637

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
1BR	$860	$92,877	0.93%	C
2BR	$1,090	$179,407	0.61%	D
3BR	$1,440	$239,782	0.6%	D
4BR	$1,790	$282,332	0.63%	D
5BR	$2,076	$316,152	0.66%	D

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

### Market Analysis for ZIP Code 67212 (Wichita, KS) #### Section 8 Voucher Dynamics The Fair Market Rent (FMR) figures for ZIP code 67212 in Wichita, Kansas, indicate that the cost of renting varies significantly based on the number of bedrooms. For a two-bedroom unit, the FMR is set at $1170 per month, which represents 20.6% of the median household income in the area. However, the actual rental market dynamics show a different picture. According to Zillow, the median price for a two-bedroom home in this ZIP code is $175,993, which translates into a monthly rent of approximately $1170 when considering typical mortgage payments and property taxes. This suggests that the FMR closely aligns with the actual rental costs for two-bedroom units. However, the FMR for other bedroom sizes may not be as reflective of the true rental market. For instance, the FMR for a three-bedroom unit is $1540, while the four-bedroom unit is priced at $1900. These higher FMRs might create constraints for voucher holders, especially those who need larger units but have limited financial resources. The voucher system typically covers only up to the FMR, so tenants would need to find additional funds to cover any rent above these levels. #### Affordability & Renter Profile ZIP code 67212 has a population of 42,902, with 36.3% of residents being renters. The occupancy rate stands at 93.2%, indicating a relatively tight rental market. Given the median household income of $68,145, the affordability of housing is a significant concern. The FMR for a two-bedroom unit at $1170 is indeed a manageable portion of the median income, but the higher FMRs for larger units could pose challenges for families needing more space. The high occupancy rate also suggests that there is strong demand for rental properties, which can drive up rental prices. The fact that the FMR for a two-bedroom unit is 20.6% of the median income indicates that the market is somewhat balanced, but it still leaves a substantial portion of the income dedicated to housing expenses. This tight balance between income and housing costs implies that many renters are living paycheck to paycheck, making them highly sensitive to changes in rent prices. #### Investor Angle From an investor perspective, the ZIP code 67212 appears to offer potential for positive cash flow, particularly if focusing on two-bedroom units. The FMR for a two-bedroom unit is $1170, which is in line with the median rental price according to Zillow. This means that landlords can potentially achieve a steady cash flow by renting their properties at or slightly below the FMR. However, the investment grade of properties in this ZIP code needs to be carefully evaluated. The Price-to-FMR ratio of 12.5x suggests that the purchase price of a property is significantly higher than what it would generate in rental income. This high ratio could indicate that the market is overvalued relative to rental yields, which might make it challenging for investors to achieve a high return on investment through rental income alone. #### Specific Actionable Insights 1. **Focus on Two-Bedroom Units**: Given that the FMR for two-bedroom units is $1170 and aligns well with the median rental price, investors should consider acquiring properties that fit this criteria. This will ensure that they can attract Section 8 tenants without facing significant rent gaps. 2. **Consider Renovation Projects**: Since the market is tight and there is a high demand for rental properties, investors might benefit from purchasing older homes at lower prices and renovating them to meet modern standards. This strategy can help in achieving a better rental yield and attracting tenants willing to pay closer to the FMR. 3. **Monitor Larger Unit Demand**: While the FMR for larger units (three and four bedrooms) is higher, the actual rental market may not support these prices due to the high occupancy rate and limited income among renters. Investors should monitor the demand for larger units and consider whether the extra space justifies the higher FMR. #### Bottom Line For Section 8-focused investors, the ZIP code 67212 presents a mixed picture. While the market is tight and there is a high demand for rental properties, the high Price-to-FMR ratio suggests that the purchase price of properties may not align well with the rental income generated. Therefore, the recommendation for this ZIP code is to **Hold**. Investors should maintain a cautious approach, focusing on two-bedroom units and considering renovation projects to improve rental yields. However, they should avoid overpaying for properties and be prepared to face challenges in finding tenants for larger units at the higher FMR rates.

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.