Real Estate Investing in Baldwin City, Kansas (66006)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 66006 (Baldwin City, KS)? Our answer, based on the numbers below.
Solid choice — values are growing steadily and the market is stable enough to buy with confidence.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
No major risk flags on the data we track.
What’s happening in Baldwin City, KS (66006)?
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Market Analysis: 66006 Baldwin City
Investors eyeing 66006 need to respect the fundamentals at play. Home values of $372K come alongside slower price movement and elevated management overhead.
For an experienced owner, 66006 can be a worth a close look for hunting ground — but the discount at $372K reflects genuine risk that outside investors often underestimate.
Within KS, ZIP 66006 trails on several market indicators that neighboring Douglas County submarkets outperform. The gap is real and substantial enough to shape underwriting.
Demographically, 66006 is a market where tenant selection matters more than unit finishes. Operators who understand that tend to do fine; those who do not tend to learn why the ZIP trades at a discount.
New investors are better served looking at Baldwin City's stable or hybrid ZIPs before stepping into 66006. The learning curve here is expensive when the lesson is wrong.
Here's what matters if you're considering buying a home in Baldwin City:
Property Strategy for 66006
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $282,966 | $1,030 | 2.6% | +8.5% | $141,483 |
| 3BR | $327,329 | $1,440 | 3.2% | +7.6% | $109,110 |
| 4BR | $421,279 | $1,720 | 2.9% | +7.2% | $105,320 |
| 5BR | $531,947 | — | — | +7.4% | $106,389 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 66006 Compare?
| Metric | 66006 | Baldwin City | Lawrence, KS | Kansas |
|---|---|---|---|---|
| Home Value | $372,374 | $372,374 | N/A | $237,409 |
| 5-Year CAGR | 5.6% | 5.6% | N/A | 7.2% |
| Avg Rent | $1,295 | $1,295 | N/A | - |
| Cap Rate | 2.7% | 2.7% | - | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 66006 (Baldwin City, KS). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $372,374 |
| Monthly Rent | $1,295 |
| Price-to-Rent | 24.0:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.2% |
| Cap Rate | 2.7% |
| 5-Year IRR | 8.3% |
📈 Home Appreciation
| 1-Year | +6.6% ▲ |
| 3-Year CAGR | +4.8% ▲ |
| 5-Year CAGR | +5.6% ▲ |
| 10-Year CAGR | +7.3% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (2.7%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 66006
Population: 7,843
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 66006
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Investor Insight: With 6,045 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
What kind of market is Baldwin City, KS for investors?
Investors tracking Baldwin City, KS will find a 3.0/5 rating supported by $372K median home values and $1,295/mo rents. That profile suits long-term holders targeting predictable returns.
What real estate strategy is ideal for Baldwin City, KS?
Baldwin City, KS investors pursuing careful cash-flow rentals with hands-on management. The underlying economics ($372K prices, $1,295/mo rents) make it a reasonable choice.
Is vacancy a concern in Baldwin City, KS?
Rental vacancy in Baldwin City, KS is elevated. Investors should budget normal turnover but not chronic empty units.
Is house hacking profitable in Baldwin City, KS?
House hacking in Baldwin City, KS is reasonable to execute. Prices around $372K and rents of $1,295/mo solid owner-occupant economics.
Where do rents currently stand in Baldwin City, KS?
The typical rental in Baldwin City, KS commands about $1,295/mo monthly. That rent profile predictable cash flow against the $372K purchase basis.
You know 66006 now. You don’t know where it ranks.
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How 66006 ranks in Lawrence, KS
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