The following is an excerpt from the July 31 issue of . Stan Longhofer, director of 麻豆传媒's Center for Real Estate, provides expertise for the story.
Demand is rising as rental home and apartment vacancies fall across the Wichita area.
It's welcome news for landlords who can finally raise rental rates after almost a decade of steady or falling demand.
Tighter credit for entry-level homebuyers is funneling business to housing and apartment landlords, said Stan Longhofer, director of 麻豆传媒's Center for Real Estate.
That's despite the popular misconception that housing foreclosures are on the rise in Wichita, driving the increase in rental demand.
"First-timers are having a harder time getting financing," Longhofer said."Now, you have to have a down payment. You can still get in FHA with 3 percent, but your credit needs to be better than it used to be and you have to have a down payment.
"For a lot of folks, that's a binding constraint."