Real Estate Investing in Richmond, Kansas (66042)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 66042 (Richmond, KS)? Our answer, based on the numbers below.
Mixed — home prices are stretched relative to local incomes. Run the math on your specific situation.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- Elevated vacancy: 9.5% vacancy may signal weakening demand.
- High price-to-rent: Price-to-rent ratio 25.6 — hard to cash-flow at these prices.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Richmond, KS (66042)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 66042 Richmond
Not every below-median market is a bargain. Richmond's 66042 ZIP records signals that favor experienced operators who can absorb the risk $296K pricing implies.
Distressed does not mean uninvestable. It means the margin for error is thinner. ZIP 66042 rewards the prepared, punishes the overconfident, and leaves the math unchanged either way.
Statewide comparisons place 66042 among KS's softer markets. That context does not make the ZIP uninvestable, but it does raise the bar for due diligence.
Who lives in 66042 is part of why the ZIP is priced as it is. The demographic profile requires hands-on management, tight screening, and local knowledge.
The 66042 ZIP fits a narrow investor profile — hands-on, patient, and willing to accept that the cap rate on paper is not the cap rate in reality.
Here's what matters if you're considering buying a home in Richmond:
Market Trends
Home Value History (with trend line)
📊 How Does 66042 Compare?
| Metric | 66042 | Richmond | Ottawa, KS | Kansas |
|---|---|---|---|---|
| Home Value | $295,581 | $263,513 | N/A | $237,409 |
| 5-Year CAGR | 8.6% | 8.3% | N/A | 7.2% |
| Avg Rent | $963 | $909 | N/A | - |
| Cap Rate | 2.5% | 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 66042 (Richmond, KS). Anonymous, moderated, never written by AI.
Do you own or manage rentals in ZIP 66042 (Richmond, KS)?
~25 seconds · no account needed · your report is anonymous
📊 Market Snapshot
| Home Value | $295,581 |
| Monthly Rent | $963 |
| Price-to-Rent | 25.6:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 3.9% |
| Cap Rate | 2.5% |
| 5-Year IRR | 11.1% |
📈 Home Appreciation
| 1-Year | +12.2% ▲ |
| 3-Year CAGR | +8.4% ▲ |
| 5-Year CAGR | +8.6% ▲ |
| 10-Year CAGR | +10.3% ▲ |
🏠 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 (2.5%). 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 66042
Population: 1,052
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
Frequently Asked Questions
How should investors approach Richmond, KS?
Most investors in Richmond, KS run a careful cash-flow rentals with hands-on management strategy. It aligns with the 3.0/5 investability profile and the market fundamentals.
How qualified is the tenant pool in Richmond, KS?
Expect a solid tenant pool in Richmond, KS. The rental market absorbs $963/mo rents without meaningful friction.
What is the typical rental rate in Richmond, KS?
Investors in Richmond, KS typically see rents near $963/mo per month against $296K home values - a solid setup for rental cash flow.
How high is vacancy risk in Richmond, KS?
Richmond, KS carries elevated vacancy risk. Expect even-keeled absorption at market rents of $963/mo.
Is KS a landlord-friendly state?
The landlord environment in Richmond, KS is landlord-friendly. Statewide rules shape most day-to-day operations for rental owners.
You know 66042 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 66042 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 66042 ranks in Ottawa, KS
Every ZIP in this metro, ranked. Free.
AI Market Advisor
Ask questions about investing in 66042 (Richmond)
Community Ratings
What people who’ve spent time here actually say. Not paid reviews.
Be the first to rate 66042 (Richmond, KS).
It takes 30 seconds. No signup. Your rating helps everyone who comes here after you.