Real Estate Investing in Effingham, Kansas (66023)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 66023 (Effingham, KS)? Our answer, based on the numbers below.
Mixed signals — some positives, some negatives. Worth considering but not a slam-dunk.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- High vacancy: 12.5% of homes vacant — above national norms.
• Limited market data — this is a very small market; averages are built from few observations and can swing widely. • Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Effingham, KS (66023)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 66023 Effingham
This part of Atchison County is not an easy win. The 66023 ZIP reports softness in key indicators, and the playbook that works in cleaner markets often stalls here.
Rent of $792/mo on a $226K basis reads well until vacancy, delinquency, and capex enter the model. The honest cap rate in 66023 sits below the stated 0.0% once reality is priced in.
Statewide comparisons place 66023 among KS's softer markets. That context does not make the ZIP uninvestable, but it does raise the bar for due diligence.
The 66023 ZIP's population of 954 has faced economic pressure over the last decade. That pressure shows up in rent delinquency patterns that clocks in at the need for careful underwriting.
New investors are better served looking at Effingham's stable or hybrid ZIPs before stepping into 66023. The learning curve here is expensive when the lesson is wrong.
Here's what matters if you're considering buying a home in Effingham:
Market Trends
Home Value History (with trend line)
📊 How Does 66023 Compare?
| Metric | 66023 | Effingham | Atchison, KS | Kansas |
|---|---|---|---|---|
| Home Value | $226,228 | $226,228 | N/A | $237,409 |
| 5-Year CAGR | 7.2% | 7.2% | N/A | 7.2% |
| Avg Rent | $792 | $792 | 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 66023 (Effingham, KS). Anonymous, moderated, never written by AI.
Do you own or manage rentals in ZIP 66023 (Effingham, KS)?
~25 seconds · no account needed · your report is anonymous
📊 Market Snapshot
| Home Value | $226,228 |
| Monthly Rent | $792 |
| Price-to-Rent | 23.8:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.2% |
| Cap Rate | 2.7% |
| 5-Year IRR | 9.9% |
📈 Home Appreciation
| 1-Year | +10.5% ▲ |
| 3-Year CAGR | +7.2% ▲ |
| 5-Year CAGR | +7.2% ▲ |
| 10-Year CAGR | N/A |
🏠 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 66023
Population: 954
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 66023
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.
Frequently Asked Questions
Is vacancy a concern in Effingham, KS?
Expect elevated vacancy in Effingham, KS. Rents at $792/mo are absorbed by the tenant base without meaningful lag.
How does Effingham, KS rate as a rental market?
Effingham, KS rates 3.0/5 for investability. With median values at $226K and rents near $792/mo, the market offers reasonable fundamentals for rental investors.
How deep is the rental pool in Effingham, KS?
The tenant pool in Effingham, KS is solid, supported by local employment and population fundamentals. Rents of $792/mo are well-absorbed by the market.
Is Effingham, KS good for landlords?
For rental operators, Effingham, KS rates as landlord-friendly. The regulatory environment standard buy-and-hold operations.
What are home prices like in Effingham, KS?
Median home price in Effingham, KS is near $226K, with a 5-year CAGR of 0.0%. Prices have been measured and supportive of buy-and-hold strategies.
You know 66023 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 66023 compares to every other market. Investor ($19/mo) screens every U.S. ZIP by cap rate, the 1% rule, vacancy and landlord climate, and exports your shortlist.
How 66023 ranks in Atchison, KS
Every ZIP in this metro, ranked. Free.
AI Market Advisor
Ask questions about investing in 66023 (Effingham)
Community Ratings
What people who’ve spent time here actually say. Not paid reviews.
Be the first to rate 66023 (Effingham, KS).
It takes 30 seconds. No signup. Your rating helps everyone who comes here after you.