Section 8 Fair Market Rent (FMR) for ZIP 67223 - 2027

Location: Wichita, KS | Metro: Wichita, KS HUD Metro FMR Area

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,100
1 Bedroom	$1,170
2 Bedrooms	$1,480
3 Bedrooms	$1,960
4 Bedrooms	$2,420
5 Bedrooms	$2,807
6 Bedrooms	$3,144
7 Bedrooms	$3,396
8 Bedrooms	$3,566

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

849

Median Household Income

$136,250

Housing Units

269

Renter Percentage

5.9%

Occupancy Rate

100.0%

Renter Occupied

The ZIP code 67223, located in Kansas, offers a unique blend of suburban tranquility and access to urban amenities, making it an attractive area for both residents and investors. The region is characterized by its stable economy, supported by a diverse mix of industries including agriculture, manufacturing, and services.

The Fair Market Rent (FMR) for a two-bedroom apartment in ZIP 67223 for fiscal year 2024 is set at $1320. This figure provides a benchmark for rental pricing and can guide landlords in setting competitive rates.
Although the specific market rent for ZIP 67223 is currently N/A, the FMR serves as a reliable proxy for understanding the rental landscape.
The median home value in ZIP 67223 stands at $345,213. This indicates a robust housing market where property investments could yield significant returns over time.
Renters make up 5.9% of the total population, suggesting that while the majority of residents own their homes, there is still a notable demand for rental properties.
The Days on Market (DOM) statistic for ZIP 67223 is currently N/A, which means that the average time it takes for a property to be listed before it sells has not been reported. However, the high median home value suggests strong buyer interest.
The median household income in ZIP 67223 is $136,250, indicating a relatively affluent community capable of supporting higher-end rental units and home values.

Investors looking to enter the ZIP 67223 market should focus on properties that align with the local economic conditions and demographic preferences. Given the high median home value and median income, there is potential for success with investment in mid-to-high-range rental units. The low percentage of renters relative to homeowners suggests a niche opportunity for those who can cater to specific needs, such as families or individuals seeking short-term rentals. With the Fair Market Rent providing a solid foundation for pricing, landlords can confidently navigate the local rental market. Despite the lack of specific market rent and DOM data, the overall economic stability and wealth of the area make it a promising location for real estate investment.

Data Sources: FMR data from HUD (2027). 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.