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 | $1,160 |
| 1 Bedroom | $1,230 |
| 2 Bedrooms | $1,560 |
| 3 Bedrooms | $2,070 |
| 4 Bedrooms | $2,560 |
| 5 Bedrooms | $2,970 |
| 6 Bedrooms | $3,326 |
| 7 Bedrooms | $3,592 |
| 8 Bedrooms | $3,772 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,560 | $342,575 | 0.46% | F |
| 3BR | $2,070 | $313,982 | 0.66% | D |
| 4BR | $2,560 | $366,587 | 0.7% | D |
| 5BR | $2,970 | $425,247 | 0.7% | D |
U.S. Census Bureau data (2024)
The rent math in ZIP 67235, located in the Wichita, KS HUD Metro FMR area, does not work favorably for landlords. The Fair Market Rent (FMR) set at $1530 for the fiscal year 2024 is below the market rent, which stands at $1,640 according to ZORI. This discrepancy means that landlords participating in the Section 8 program will receive less than what the market demands, reducing potential profits.
Acquisition of properties in this ZIP code is moderately affordable. The median home value is $358,212, making it accessible for small-portfolio investors. However, the days on market (DOM) average of 32 days suggests a competitive market where homes sell relatively quickly, potentially driving up prices. The low price-cut share of 0.2% further indicates that sellers are not significantly lowering their prices, reinforcing the notion that the market is tight but still within reach for buyers.
Tenant demand in ZIP 67235 is relatively low. With a total population of 14,958, only 6.4% are renters. This translates to approximately 962 rental units in the area. Given the small number of renters, finding tenants who qualify for the Section 8 program could be challenging, especially if the pool of eligible applicants is smaller than the available rental units.
In conclusion, ZIP 67235 presents a mixed scenario for landlords and small-portfolio investors. While the acquisition of properties is feasible due to the median home value and quick sales, the unfavorable rent math and low tenant demand make it a less attractive investment opportunity under the Section 8 program. Landlords should carefully consider these factors before entering this 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.