Rankings/Wichita, KS

Wichita, KS

NeutralTier 1CBSA 48620Compare

Risk Rank: #47 of 274Month: 2026-06Score change (12m):↑ +12

59score

Composite risk percentile vs 274 metros (higher = higher risk)

Executive Summary

Wichita's housing market shows average risk, ranking 47th of 274 metros. The market recently entered Recovery. Current conditions are balanced with stable liquidity. Early signs of stabilization — conditions may favor patient buyers.

Wichita experienced a market correction from late 2024 through early 2025. The market is currently recovering.

Inventory is roughly flat (-1% YoY) with homes selling at a normal pace — a balanced market.

Rent growth is roughly keeping pace with price appreciation, suggesting valuations are not stretched.

Cycle Phase

RecoveryExpansionHypersupplyRecession

2 months in current phase·from Recovery

Market conditions are rebuilding after a correction period

Key Dynamics

Risk is primarily driven by price momentum and permit growth, while employment provides the most support.

Top Drivers

Price Momentump90

12-month HPI change

Permit Growthp80

YoY permit change

Migrationp72

Net AGI migration (risk inverted)

Market Signals

Inventory is roughly flat (-1% YoY) with homes selling at a normal pace — a balanced market.

Liquidity

Stable↓

Active Listings YoY

-0.7%p48

Days on Market YoY

+4.2%p56

Months in status2

Data through Jun 2026

Valuation

Balanced—

Rent vs. Price Growth

+1.9%p86

Months in status2

Data through Jun 2026Rent growth vs price growth (rent support). Note: Affordability and Valuation measure different structural dimensions and can diverge.

Factor Details

Lower riskHigher risk

Low RiskBelow AvgNeutralElevatedHigh Risk

Price MomentumHigh Risk

+3.2%p90

12-month HPI change — higher = overheating

Permit GrowthElevated

+23.1%p80

YoY permit change — higher = supply pressure

Permits per CapitaElevated

5.60p66

Permits per 1,000 residents — higher = overbuilding risk

AffordabilityBelow Avg

0.26p29

Mortgage payment / income — higher = more burdened

EmploymentLow Risk

+1.3%p17

12-month employment change (risk inverted)

MigrationElevated

-$21Kp72

Net AGI migration (risk inverted)

National Context

Credit Conditions

Credit Regime

Stable—

Healthy recovery. Credit is flowing normally and transactions are steady — conditions favor continued rebuilding.

Bank Lending Standards

N/ANormal

Rate Change (YoY)

-5 bpsNormal

Mortgage Risk Premium

+194 bpsElevated

Stable for 10 quartersData through 2026-Q3

Supply Pipeline

Supply Regime

Accumulating—

Supply pipeline is building up while credit remains available. New units are accumulating in the system — watch for delivery pressure in coming quarters.

Pipeline Ratio

0.90Elevated

Completion-Permit Divergence

-3.1 ppNormal

Accumulating for 5 quartersData through 2026-Q2

Local Signals

Metro Permit Activity

Permit Activity

Normal

YoY Permit Growth

+23.1%Within norm

Raw signal — not the composite percentile

Relative to 2016–2019 norms for this metro

Supply and demand are in equilibrium. No unusual activity on either side of the market.

Employment Concentration

Employment

Concentrated

Largest SectorManufacturing 27.3%

QCEW 2024 annual averages

Internal Structure

Wichita's 4 counties show moderate divergence — Sedgwick County carries the most risk (High Risk) while Butler County anchors the lower end.

Moderate13.5Limited data

4 of 4 counties scored

Wichita, KS shows Moderate internal divergence — some counties diverge meaningfully from the metro picture. Sedgwick County contributes the most structural risk (High Risk, driven by permit growth), while Butler County anchors the lower end (Below Average).

Within-metro factor percentiles (0 = lowest risk, 100 = highest risk)

County	Score ▼	Band	Pop %	Price	Permits	Afford
Sedgwick CountyRisk Driver	83	High Risk	80.9%	33	100	100
Harvey County	58	Elevated	5.2%	100	0	67
Butler CountyStabilizer	42	Below Average	10.5%	67	33	33
Sumner County<5%	17	Low Risk	3.4%	0	67	0

Score History

Month	Phase	Score	Price	Permits	Afford	Employ	Migr
2026-05	Rec	61	91	73	29	40	72
2025-11	Rec	44	41	23	25	45	73
2025-09	Hyp	49	38	23	25	80	73
2025-07	Hyp	48	34	23	25	75	73
2025-04	Hyp	48	35	23	26	79	73
2025-02	Ress	53	56	23	28	85	73
2024-12	Ress	49	50	23	27	65	73
2024-11	Hyp	45	40	23	27	54	73
2024-09	Ress	43	46	23	28	31	73
2024-07	Ress	45	63	23	28	30	73
2024-06	Hyp	46	69	23	27	31	73
2024-04	Hyp	46	74	23	27	21	73
2024-01	Rec	50	72	23	26	51	73
2023-11	Rec	52	89	23	33	41	73
2023-10	Ress	52	88	23	33	38	73
2023-08	Rec	48	73	23	30	34	73
2023-07	Hyp	48	71	23	30	38	73
2023-05	Hyp	44	52	23	27	34	73
2023-03	Ress	41	47	23	26	23	73
2023-01	Ress	43	54	23	26	29	73
2022-10	Rec	45	53	23	21	44	73
2022-08	Rec	50	47	23	22	79	73
2022-07	Exp	46	44	23	22	58	73
2022-05	Exp	46	25	23	22	76	73
2022-02	Exp	43	22	23	22	65	73
2022-01	Rec	44	28	23	22	66	73
2021-11	Rec	40	19	23	23	54	64
2021-09	Exp	44	25	23	26	72	64
2021-07	Exp	45	25	23	26	80	64
2021-04	Rec	48	59	23	30	57	64
2021-02	Rec	47	42	23	26	73	64
2020-12	Exp	52	69	23	19	72	74
2020-10	Exp	53	78	23	19	72	74
2020-08	Rec	53	86	23	20	60	74
2020-06	Rec	53	68	23	20	77	74
2020-04	Exp	46	42	23	20	61	74
2020-02	Exp	44	56	23	19	37	74
2020-01	Rec	43	66	23	19	20	74
2019-11	Rec	39	42	23	18	24	75
2019-10	Exp	39	42	23	18	23	75
2019-08	Exp	40	32	23	18	37	75
2019-07	Rec	37	26	23	18	28	75
2019-05	Rec	40	59	23	19	11	75
2019-03	Exp	36	24	23	18	22	75
2019-01	Exp	37	26	23	18	28	75

Data Vintages

Price (HPI)2026-Q1

Permits2026-06

Income2024

Employment2026-06

Migration2023