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 | $1,000 |
| 1 Bedroom | $1,060 |
| 2 Bedrooms | $1,340 |
| 3 Bedrooms | $1,780 |
| 4 Bedrooms | $2,200 |
| 5 Bedrooms | $2,552 |
| 6 Bedrooms | $2,858 |
| 7 Bedrooms | $3,087 |
| 8 Bedrooms | $3,241 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,340 | $275,109 | 0.49% | F |
| 3BR | $1,780 | $288,418 | 0.62% | D |
| 4BR | $2,200 | $336,397 | 0.65% | D |
| 5BR | $2,552 | $399,683 | 0.64% | D |
U.S. Census Bureau data (2024)
The HUD Fair Market Rent (FMR) for ZIP code 67226 in Wichita, Kansas, for fiscal year 2024 is set at $1,220. This figure represents the maximum amount that a landlord can charge for a unit under the Section 8 Housing Choice Voucher program. In comparison, the market rent, as indicated by ZORI (Zillow Observed Rent Index), stands at $1,247. This means that landlords participating in the Section 8 program will cashflow marginally at the FMR rate, given that the market rent is slightly higher.
To further analyze the investment potential, consider the median home value in the area, which is $325,735. The rent-to-price ratio can be calculated using these figures. Assuming a typical mortgage scenario where the monthly payment would be approximately 1% of the property's value, the monthly payment would be around $3,257.35. With an average rent of $1,247, the rent-to-price ratio is quite low, indicating that rental income alone might not fully cover the mortgage payment without additional subsidies such as those provided by Section 8.
The median Days on Market (DOM) for properties in this area is 46 days, and the share of listings that experienced price cuts is only 0.2%. These metrics suggest a relatively stable and efficient market for both buying and renting. The quick turnover and minimal price adjustments indicate that there is strong demand for housing in the area, which benefits both homeowners and landlords.
In summary, the strongest investor angle in ZIP 67226 is likely stability. Landlords can expect consistent tenant demand and reliable cash flow when renting to voucher holders at the HUD FMR rate, although they will need to rely on the subsidy to fully cover their costs. The market's efficiency and low price-cut share also support the idea that investments in this area will maintain their value over time, providing long-term stability and potentially steady appreciation.
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.