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 | $960 |
| 1 Bedroom | $1,010 |
| 2 Bedrooms | $1,280 |
| 3 Bedrooms | $1,700 |
| 4 Bedrooms | $2,110 |
| 5 Bedrooms | $2,448 |
| 6 Bedrooms | $2,742 |
| 7 Bedrooms | $2,961 |
| 8 Bedrooms | $3,109 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,700 | $407,369 | 0.42% | F |
| 4BR | $2,110 | $513,676 | 0.41% | F |
| 5BR | $2,448 | $489,731 | 0.5% | F |
U.S. Census Bureau data (2024)
The classification of ZIP code 67228 hinges on its financial metrics, particularly focusing on yield and stability. Yield is measured by comparing the Fair Market Rent (FMR) of $1280 for the fiscal year 2024 against the median home value of $482,011. Stability is gauged through the percentage of renters at 6.0%, the median household income of $162,857, and the lack of available data on days on market (DOM).
Starting with yield, the FMR of $1280 suggests that rental properties could generate a decent income relative to the area's property values. However, without a specific market rent figure, it's challenging to determine if there's a significant premium over the FMR. The median home value stands at $482,011, which is notably higher than the FMR, indicating a potentially lucrative market for flipping homes or converting them into rental units.
Moving onto stability, the low percentage of renters at 6.0% implies a predominantly owner-occupied area. This can be seen as a mixed signal; while it suggests a stable community, it also indicates a smaller pool of potential tenants. The median household income of $162,857 is robust, which generally supports higher rental rates and lower risk of delinquency. However, the absence of DOM data makes it difficult to assess how quickly rental units might turn over, a key factor in long-term cash flow stability.
Given these factors, ZIP 67228 leans towards being a steady-cashflow zone. The strong median household income supports consistent rental demand and payments. Despite the low percentage of renters, the high median home value and reasonable FMR indicate that the area can sustain rental investments. The lack of comprehensive market data slightly hinders a full assessment but does not detract from the overall positive outlook for steady returns.
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.