MARKET SNAPSHOT

Wichita q2 2025

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AVERAGE RENT

$914 Q2 2025

OCCUPANCY RATE

93.2% Q2 2025

NET ABSORPTION

29 H1 2025

ANNUAL RENT CHANGE

1.9% Q2 2025

ANNUAL OCCUPANCY CHANGE

-30 BPS Q2 2025

COMPLETIONS

0 H1 2025

KEY TAKEAWAYS

Renter demand rebounded in Q2 2025, with positive net absorption following a soft first quarter; over the trailing 12 months, Wichita recorded 372 units of net absorption.

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At the end of Q2 2025, around 1,000 units were under construction in Wichita—equal to 2.7% of inventory and nearly in line with the 2.8% national average—marking a 30% decline from the 2023 peak as deliveries slowed to just 230 units over the past year.

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This emerging supply-demand imbalance is expected to support occupancy levels—hovering just above 93%—and gradually place upward pressure on rents. Annual rent growth is projected to reaccelerate, potentially reaching 3.1% by year-end, in line with the market’s 10-year historical average.

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MARKET OUTLOOK

The outlook for the Wichita multifamily market remains broadly positive, underpinned by stable demand drivers and a steadily tightening development pipeline...

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