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: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,060 | $142,156 | 0.75% | D |
| 3BR | $1,400 | $163,415 | 0.86% | C |
| 4BR | $1,740 | $201,762 | 0.86% | C |
U.S. Census Bureau data (2024)
The market in ZIP 67217, located in Wichita, KS, reflects a dynamic equilibrium between supply and demand. With a Fair Market Rent (FMR) set at $1060 for fiscal year 2024 and a market rent of $1,108 (as indicated by ZORI), the rental market shows a slight premium over the government benchmark, suggesting that landlords can command slightly higher rents than the FMR.
The 0.2% price-cut share indicates that very few listings are being discounted, which is a positive sign for landlords and investors. This low discount rate suggests that the majority of properties are being rented at their listed prices, implying a steady demand for rental units. Furthermore, the 16-day Days on Market (DOM) statistic points towards a relatively quick turnover for rental listings, indicating that there is sufficient interest from tenants to fill vacancies promptly.
The median home value in ZIP 67217 stands at $162,116. This figure provides insight into the overall property values within the area, which can influence the attractiveness of the neighborhood to both buyers and renters. A lower median home value might suggest that the area is more affordable, potentially attracting a larger pool of renters who find homeownership out of reach.
A 31.9% renter share highlights that over a third of the population in ZIP 67217 are renters. This significant proportion of renters suggests ongoing and persistent housing pressure, as a large segment of the community relies on rental properties. Over the long term, this high renter share can be indicative of a robust demand for rental units, making it a favorable environment for landlords and small-portfolio investors looking to capitalize on the steady need for affordable housing.
In summary, ZIP 67217 presents a rental market where demand closely matches supply, with a slight edge towards demand given the premium over FMR and low price-cut share. The high renter share points to a sustained need for rental properties, which can provide consistent opportunities for income generation for those invested in the local real estate market.
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.