Average effective rents in Wichita increased 2.9% in Q1 2026, placing the market second among the 51 peers tracked this quarter, trailing only Chicago's 3.0% growth and outperforming markets significantly larger in scale.
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The construction pipeline has contracted 66% over the past four quarters to 262 units (0.7% of inventory), with trailing 12-month starts of 175 units down sharply from 640 one year ago — signaling the supply cycle has ended.
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Class A and B properties held occupancy near 92%, while workforce (Class C) assets experienced the most stress with vacancy exceeding 10% — reflecting growing functional obsolescence and heightened renter selectivity in a market with expanded supply choices.
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MARKET OUTLOOK
Wichita is moving confidently through the latter phase of its supply cycle, with a shrinking pipeline and stabilizing demand setting the stage for...
