Real Estate Investing in Hays, Kansas

Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.

1 ZIP codes • Population: 24,279 • Ellis County

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Should you buy in Hays, KS? Our answer, based on the numbers below.

🏠 For Homebuyers
MIXED
Grade C (58/100)

Mixed signals — some positives, some negatives. Worth considering but not a slam-dunk.

📈 For Investors
MIXED
3.0 / 5 (47/100)

A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.

⚠️ Risks to Know
1 flag
  • Elevated vacancy: 9.6% vacancy may signal weakening demand.

What’s happening in Hays, KS?

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3.0/ 5

Investability

Citywide average

3.0/ 5

Appreciation

5.7% 5yr CAGR

5.0/ 5

Landlord Climate

Regulatory friendliness

🏦 30-yr Fixed Rate: 6.76% as of Sep 10 Source: Freddie Mac PMMS
Avg Investability
Avg Home Value $259,090
Avg Monthly Rent $930
ZIP Codes 1

Investing in Hays Real Estate

With a sizable population across 1 ZIPs, Hays shows the kind of thin fundamentals that keep most out-of-state capital on the sidelines.

The investment case for Hays is difficult to make on screen data alone. less favorable for a 3.0 rating and a cap rate of 0.0% that looks fine only until you underwrite the vacancy.

Market conditions in Hays are tepid. Days-on-market has stretched, rent growth has stalled, and the 0.0% 5-year CAGR understates how uneven the underlying ZIPs really are.

Distressed-leaning demographics in Hays — soft income growth, high rent burden, population shifts — are among the reasons the ★★★☆☆ rating sits where it does.

A great house in the wrong ZIP is still a bad deal — screen every market by cash flow & cap rate.
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Best ZIP codes in Hays, KS

Hays is part of this metro. Every ZIP in it, ranked. Free.

Cash Flow → Appreciation → Affordable →

Landlord Ground Truth

Real numbers from people who own or manage rentals in Hays, KS. Anonymous, moderated, never written by AI.

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Avg Home Value
$259,090
Avg Monthly Rent
$930
1% Rule
✗ Below
Landlord Friendly (KS)

📉 Market Crash Risk Index

Based on Hays, KS metro

0/10
Low Risk
Price YoY
0/3
N/A
Rent YoY
0/2
N/A
Below List
0/3
0%
Days Pending
0/2
0 days

View all metro crash risk rankings →

☀️ Warm Market — Hays, KS metro
0
Days to pending
7.8%
Listings with price cuts
0.0%
Sale-to-list ratio
📅 Data as of August 29, 2026 — updated weekly

🎓 Colleges & Universities in Hays

2 Colleges 12,917 Students 847 Off-Campus Renters
C+
Fort Hays State University
4-Year Public · 12,843 students
📍 ~847 students rent off-campus
C
Hays Academy of Hair Design
Vocational For-Profit · 74 students

Investor Insight: With 847 students living off-campus, Hays has substantial rental demand from the college population — typically stable, lease-renewing tenants.

ZIP Codes in Hays, KS

Screen every ZIP in Hays

Filter Hays’s ZIPs by cap rate, vacancy, appreciation and 30+ more criteria, and export your shortlist to CSV — with the Investor plan ($19/mo).

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Frequently Asked Questions About Hays, KS

How much rent can I charge in Hays, KS?

Hays, KS rentals go for roughly $930/mo a month. That puts gross yield in solid territory relative to $259K acquisition costs.

How strong is tenant demand in Hays, KS?

Hays, KS draws a consistent base of working renters. Demand at the $930/mo rent level is reasonable for standard single-family and small multi rentals.

What is the typical home price in Hays, KS?

In Hays, KS the median home value sits at $259K. Against the broader KS market, that reads as reasonable for most investors.

Are landlord laws favorable in Hays, KS?

Rental owners in Hays, KS deal with a landlord-friendly legal framework. Most standard eviction processes run on reasonable timelines.

How strong is Hays, KS for real estate investors?

Hays, KS rates 3.0/5 for investability. With median values at $259K and rents near $930/mo, the market offers reasonable fundamentals for rental investors.

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