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 | $720 |
| 1 Bedroom | $760 |
| 2 Bedrooms | $960 |
| 3 Bedrooms | $1,270 |
| 4 Bedrooms | $1,580 |
| 5 Bedrooms | $1,833 |
| 6 Bedrooms | $2,053 |
| 7 Bedrooms | $2,217 |
| 8 Bedrooms | $2,328 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $760 | $68,684 | 1.11% | B |
| 2BR | $960 | $78,042 | 1.23% | A |
| 3BR | $1,270 | $104,372 | 1.22% | A |
| 4BR | $1,580 | $137,462 | 1.15% | B |
| 5BR | $1,833 | $164,265 | 1.12% | B |
U.S. Census Bureau data (2024)
The Section 8 HUD Fair Market Rent (FMR) for ZIP 67214 in Wichita, KS for fiscal year 2024 is set at $880. This figure is slightly above the market rent, which is $878 according to the Zillow Observed Rent Index (ZORI).
Voucher tenants in this area will generally cashflow at the FMR rate. Landlords can expect to receive the full $880 for their units without needing to rely on premium units to make up the difference.
The median home value in ZIP 67214 is $92,327. This yields a rent-to-price ratio of approximately 0.095, suggesting that rental properties are relatively affordable compared to home purchases. For context, the median home value has seen a rise of around 15.7% between June 2022 and 2023, indicating a growing market but still remaining lower than the national average.
The days on market (DOM) and price cut share data are not available for ZIP 67214, making it difficult to assess the rent-vs-buy dynamics fully. However, given the slight edge of the FMR over the ZORI and the moderate increase in home values, the stability of the rental market appears to be the strongest angle for investors in this area.
The most compelling angle for Section 8 investors in ZIP 67214 is the stability of the rental market, providing consistent cash flow with minimal risk.
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.