Location: Wichita, KS | Metro: Wichita, KS HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $780 |
| 1 Bedroom | $830 |
| 2 Bedrooms | $1,050 |
| 3 Bedrooms | $1,390 |
| 4 Bedrooms | $1,720 |
| 5 Bedrooms | $1,995 |
| 6 Bedrooms | $2,234 |
| 7 Bedrooms | $2,413 |
| 8 Bedrooms | $2,534 |
To classify ZIP code 67278 in Unknown, Kansas, we must consider the available data points: the Fair Market Rent (FMR) for FY 2024, which is set at $1020; and the lack of specific market rent and home value figures. Additionally, there is no information provided regarding the percentage of renters, days on market (DOM), or median income levels.
The FMR of $1020 represents the maximum amount that a Section 8 voucher holder can pay for housing in this area. Without comparative figures for market rent and home values, it's challenging to assess the yield potential accurately. However, if the market rent is significantly lower than $1020, then landlords could potentially see higher yields due to the subsidy. Conversely, if market rents are close to or exceed $1020, the yield would be lower, and the property might attract fewer voucher holders.
The stability of the market is also difficult to gauge without additional data. The absence of figures for the percentage of renters, average DOM, and median income means we cannot make informed judgments about the likelihood of tenant turnover, vacancy rates, or the financial health of potential tenants. These factors are crucial in determining whether the market is stable or prone to fluctuations.
Given the limited data, ZIP 67278 appears to be neither a high-yield/low-stability flip-style market nor a steady-cashflow zone. Instead, it seems to fall into an intermediate category where the yield is dependent on local market conditions that are not fully specified here. For landlords and small-portfolio investors, the key will be to research local market rents and home values to understand how they compare to the FMR of $1020. This will help them determine the profitability and risk level associated with properties in this ZIP code.
Data Sources: FMR data from HUD (2027).
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.