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: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $960 | $114,261 | 0.84% | C |
| 3BR | $1,270 | $149,921 | 0.85% | C |
| 4BR | $1,580 | $185,796 | 0.85% | C |
| 5BR | $1,833 | $217,436 | 0.84% | C |
U.S. Census Bureau data (2024)
The ZIP code 67216, located in Wichita, KS, HUD Metro FMR Area, serves as an ideal cash-flow anchor within a Section 8 portfolio strategy. The primary reason for this classification is the significant spread between the Fair Market Rent (FMR) and the actual market rental rates.
In fiscal year 2024, the HUD-determined FMR for ZIP 67216 is set at $930 per month. However, the current market rental rate stands at $1,038 per month. This $108 difference represents a substantial cushion for landlords participating in the Section 8 program. By accepting Section 8 tenants, landlords can secure a guaranteed income that closely matches the market rate, thereby minimizing risk and ensuring steady cash flow.
The median home value in ZIP 67216 is $134,211, which indicates a relatively stable housing market. While the price-cut share is only 0.1%, suggesting that homes rarely go on sale at a discount, the lack of data on days on market (DOM) does not provide a complete picture of the local real estate dynamics. Nonetheless, the focus should remain on the strong cash-flow potential due to the favorable FMR-market rate spread.
ZIP 67216 also has a 41.8% renter share, meaning nearly half of the households are renters, which supports a robust demand for rental properties. Additionally, the median household income is $48,902, providing further evidence of a healthy rental market where tenants can afford the FMR stipulated by HUD.
In conclusion, ZIP 67216 is best suited as a cash-flow anchor in a Section 8 portfolio. The consistent income stream, backed by HUD's FMR, combined with a market rental rate that is only slightly higher, ensures that landlords can maintain profitability while mitigating risks associated with tenant turnover and vacancy rates.
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.