Section 8 Fair Market Rent (FMR) for ZIP 67232 - 2027

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

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$930
1 Bedroom	$990
2 Bedrooms	$1,250
3 Bedrooms	$1,660
4 Bedrooms	$2,060
5 Bedrooms	$2,390
6 Bedrooms	$2,677
7 Bedrooms	$2,891
8 Bedrooms	$3,036

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

607

Median Household Income

$N/A

Housing Units

318

Renter Percentage

3.1%

Occupancy Rate

100.0%

Renter Occupied

The ZIP code 67232, located in Kansas, offers a stable real estate market with opportunities for both rental and homeownership investments. The area is characterized by its modest size and suburban setting, providing a comfortable living environment for residents.

The Fair Market Rent (FMR) for ZIP 67232 in fiscal year 2024 is set at $1200, indicating the average rent that should be charged for a standard unit to cover operating costs and provide a reasonable profit margin.
The median home value in the area stands at $449,319, reflecting a relatively high investment threshold for potential homeownership purchases compared to other parts of Kansas.
Renters make up only 3.1% of the population, suggesting a strong preference among residents for owning homes over renting, which could impact the demand for rental properties.
The median income figure is currently unavailable, making it difficult to assess the financial capacity of the local population to support higher rents or property values.
The Days on Market (DOM) statistic is also not available, which would typically help investors gauge how quickly properties sell or rent in this area.
The lack of specific market rent data means that investors must rely on the FMR as a benchmark, potentially underestimating the actual rent prices if the local market exceeds federal guidelines.

Given the data points, investors looking to enter ZIP 67232 should consider the high median home value and low renter share when evaluating potential investments. While the Fair Market Rent provides a useful guideline, the absence of local market rent data and median income figures introduces uncertainty. Investors should conduct thorough due diligence to understand the local dynamics better and ensure their investments align with the area's economic realities.

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.