Stop Chasing Cash Flow: Why Wichita Investors Are Switching to Medium-Term Rentals

Written by:

Rudi Davis

Date:

16 Jan 2026

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Wichita’s rental property math is getting harder to justify for traditional investors. Home prices have climbed to $277,000, but long-term rents are rising slowly, squeezing returns for landlords who rely on the buy-and-hold model. Joseph Hamer, a real estate agent and investor at ReeceNichols South Central Kansas who has completed eight flips and now manages medium-term rentals, says the old formula no longer produces the results investors expect.

“Long-term rental numbers are tough to make work right now,” Hamer says. “Prices keep going up, but rents in Wichita don’t climb at the same rate as other cities.” In response, more Wichita investors are turning to medium-term rentals, furnished properties leased to traveling professionals for 30 to 90 days.

What’s Driving the Shift

Wichita investors are moving away from traditional long-term rentals for three main reasons: slow rent growth, stricter short-term rental rules, and stronger tenant quality with medium-term leases.

First, the city’s long-term rents increase slowly. While home prices rose by $22,000 in just two years, rent for a typical single-family home might go from $1,200 to only $1,250 per month in the same period. This limited growth makes it harder for investors to achieve meaningful cash flow, especially as property taxes and insurance continue to climb.

“You have to be creative to make the numbers work,” Hamer says. “If real estate investing were easy, a lot more people would be doing it.”

Second, Wichita has tightened regulations on short-term rentals. While the city is not as restrictive as some larger markets, it now requires registration and increased oversight for Airbnb-style operations. Many investors who wanted to avoid additional red tape have shifted to medium-term rentals, which face fewer regulations and less frequent turnover.

Third, medium-term rentals tend to attract more reliable tenants. Hamer’s properties typically serve travel nurses, aerospace engineers, and professionals on assignment at companies like Koch Industries. “I’m getting to serve people who are coming to Wichita to support our community,” Hamer says. “They’re self-sufficient, don’t ask unnecessary questions, and they take care of the property.”

The Cash Flow Advantage

Medium-term rentals generate significantly higher monthly income than traditional leases. A single-family home that rents for $1,200 per month on a long-term basis can often command $1,800 to $2,200 as a furnished medium-term rental. That $600 to $1,000 monthly premium quickly boosts annual returns.

Vacancy rates are also lower than in the short-term market because tenants stay longer than typical Airbnb guests, but not as long as yearlong renters. Hamer averages 4 tenants per unit per year, compared to the high turnover of short-term stays. “It’s a happy medium between cash flow and time managing it,” Hamer says.

Maintenance demands are reduced as well. Traveling professionals are accustomed to resolving minor issues themselves and contacting management only for legitimate problems.

What It Takes to Make It Work

Launching a medium-term rental requires more upfront investment than a standard long-term lease. Owners need to furnish the property, provide essentials like linens and kitchenware, and stage the home to appeal to professionals. However, once set up, these rentals require less intensive management than short-term units and earn more than traditional leases.

Hamer’s wife manages furnishing and staging, which keeps costs in check and ensures the properties are attractive. “She gets to make them look beautiful, and I get the cash flow,” Hamer says. “It’s a win-win.”

Location is critical. Properties near hospitals, aerospace facilities, and major employers draw the most interest from traveling professionals. Wichita’s diverse economy—anchored by healthcare, aerospace, manufacturing, and education—ensures consistent demand for this type of housing year-round.

The Long-Term Play

While Hamer still values buy-and-hold real estate, he has adjusted his approach to fit current market conditions. Instead of focusing on maximizing cash flow in lower-priced neighborhoods, he targets medium-term rentals in higher-end areas that appreciate more consistently.

“I choose to invest in areas that appreciate more and have higher rents and pride of ownership,” Hamer says. “The tenant class matters as much as the cash flow.”

For investors with significant capital, Hamer recommends new construction and land, both of which perform well in Wichita’s growing market. “New construction does really well here in Wichita,” he says. “Land holds its value, and Wichita keeps growing.” For those with more limited funds, medium-term rentals offer the best combination of income, appreciation, and manageable workload.

The Bottom Line

Traditional long-term rentals can still work in Wichita, but profit margins are thinner than in previous years. Medium-term rentals provide higher cash flow, attract more responsible tenants, and require less daily management. “If capital weren’t an issue, I’d do some really cool things with medium-term rentals in terms of location and options,” Hamer says. For now, this approach offers the best balance for investors seeking steady income in a market defined by slow, steady growth.

This article offers insights into rental strategies in Wichita. It is not legal, financial, or investment advice.