Real Estate Investing in Lawrence, Kansas (66047)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 66047 (Lawrence, 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.
No major risk flags on the data we track.
What’s happening in Lawrence, KS (66047)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 66047 Lawrence
Looking more closely, ZIP 66047 has challenges — vacancy pressure, softer price growth, and tenant stability concerns sit alongside the $359K median. It rewards specialists, not generalists.
Distressed does not mean uninvestable. It means the margin for error is thinner. ZIP 66047 rewards the prepared, punishes the overconfident, and leaves the math unchanged either way.
On balance, 66047 offers a low basis, the region around Lawrence has moved on in ways that the ZIP itself has not fully absorbed. The result is a discount with genuine reasons.
In practical terms, 20,344 residents fill the ZIP, renter turnover runs higher than neighboring postal codes and delinquency risk is a real line item rather than a theoretical one.
Experienced landlords with local relationships tend to find 66047 workable. Turnkey investors from out of state usually find the numbers do not hold up in practice.
Here's what matters if you're considering buying a home in Lawrence:
Property Strategy for 66047
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $208,647 | $1,060 | 3.7% | — | $208,647 |
| 2BR | $248,483 | $1,250 | 3.6% | +6.8% | $124,241 |
| 3BR | $300,741 | $1,740 | 4.2% | +7.4% | $100,247 |
| 4BR | $397,919 | $2,100 | 3.8% | +6.6% | $99,480 |
| 5BR | $600,425 | — | — | +7.0% | $120,085 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 66047 Compare?
| Metric | 66047 | Lawrence | Lawrence, KS | Kansas |
|---|---|---|---|---|
| Home Value | $359,082 | $268,296 | N/A | $237,409 |
| 5-Year CAGR | 5.3% | 6.2% | N/A | 7.2% |
| Avg Rent | $1,471 | $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 66047 (Lawrence, KS). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $359,082 |
| Monthly Rent | $1,471 |
| Price-to-Rent | 20.4:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.9% |
| Cap Rate | 3.2% |
| 5-Year IRR | 8.5% |
📈 Home Appreciation
| 1-Year | +6.3% ▲ |
| 3-Year CAGR | +4.5% ▲ |
| 5-Year CAGR | +5.3% ▲ |
| 10-Year CAGR | +6.2% ▲ |
🏠 Rent Trends
| 1-Year | +4.2% ▲ |
| 3-Year CAGR | +5.3% ▲ |
| 5-Year CAGR | +6.8% ▲ |
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 66047
Population: 20,344
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 66047
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 price range are homes in Lawrence, KS?
Median home price in Lawrence, KS is near $359K, with a 5-year CAGR of 0.0%. Prices have been consistent and supportive of buy-and-hold strategies.
Which real estate strategy fits Lawrence, KS?
Investors who focus on careful cash-flow rentals with hands-on management typically do well in Lawrence, KS. The numbers - $359K homes against $1,471/mo rents - support that play.
Is it easy to find good tenants in Lawrence, KS?
Tenant demand in Lawrence, KS is solid. The local workforce $1,471/mo rents across most rental classes.
Is rental property easy to operate in Lawrence, KS?
Landlord-friendliness in Lawrence, KS is landlord-friendly. Eviction timelines and lease enforcement are considered reasonable by most property managers.
Is Lawrence, KS a good market for FHA house hackers?
Lawrence, KS is a a challenging market for house hackers. FHA or conventional owner-occupant buyers find the $359K price point reasonable to enter.
You know 66047 now. You don’t know where it ranks.
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How 66047 ranks in Lawrence, KS
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