Real Estate Investing in Lawrence, Kansas (66046)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 66046 (Lawrence, 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.
No major risk flags on the data we track.
What’s happening in Lawrence, KS (66046)?
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Market Analysis: 66046 Lawrence
The 66046 ZIP in Lawrence, KS is a local-operator market. Outside capital chasing a $297K entry has to pair deep knowledge with the discount.
The 66046 ZIP can work — but only with a tight operating hand. Remote landlords and passive investors tend to struggle here more than the underwriting suggests.
Within KS, ZIP 66046 trails on several market indicators that neighboring Douglas County submarkets outperform. The gap is real and healthy enough to shape underwriting.
The demographic picture in 66046 includes headwinds that any investor should price in. Income distribution skews lower than Lawrence averages, and tenant stability requires active management.
The 66046 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 Lawrence:
Property Strategy for 66046
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $202,910 | $1,080 | 3.8% | +7.8% | $101,455 |
| 3BR | $274,379 | $1,500 | 3.9% | +8.2% | $91,460 |
| 4BR | $329,510 | $1,810 | 4.0% | +7.3% | $82,377 |
| 5BR | $384,768 | — | — | +6.4% | $76,954 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 66046 Compare?
| Metric | 66046 | Lawrence | Lawrence, KS | Kansas |
|---|---|---|---|---|
| Home Value | $297,440 | $268,296 | N/A | $237,409 |
| 5-Year CAGR | 7.1% | 6.2% | N/A | 7.2% |
| Avg Rent | $1,227 | $1,418 | N/A | - |
| Cap Rate | 3.2% | 3.3% | - | - |
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 66046 (Lawrence, KS). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $297,440 |
| Monthly Rent | $1,227 |
| Price-to-Rent | 20.2:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.0% |
| Cap Rate | 3.2% |
| 5-Year IRR | 10.3% |
📈 Home Appreciation
| 1-Year | +8.0% ▲ |
| 3-Year CAGR | +6.1% ▲ |
| 5-Year CAGR | +7.1% ▲ |
| 10-Year CAGR | +7.2% ▲ |
🏠 Rent Trends
| 1-Year | -16.5% ▼ |
| 3-Year CAGR | -0.1% ▼ |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (3.2%). 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 66046
Population: 19,972
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 66046
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
Is Lawrence, KS a good market for buy-and-hold investors?
Lawrence, KS scores 3.0/5 for investability. Home values sit at $297K and rents near $1,227/mo, which keeps the rent-to-price ratio in reasonable territory for buy-and-hold investors.
How tight is the rental market in Lawrence, KS?
Lawrence, KS sees elevated vacancy, which is reasonable relative to the broader KS rental market.
How do experienced investors play Lawrence, KS?
Lawrence, KS investors pursuing careful cash-flow rentals with hands-on management. The underlying economics ($297K prices, $1,227/mo rents) make it a reasonable choice.
How landlord-friendly is Lawrence, KS?
KS law landlord-friendly for landlords, and Lawrence inherits those rules. Investors should still review local ordinances for rental licensing.
How expensive is real estate in Lawrence, KS?
In Lawrence, KS the median home value sits at $297K. Against the broader KS market, that reads as reasonable for most investors.
You know 66046 now. You don’t know where it ranks.
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How 66046 ranks in Lawrence, KS
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