Real Estate Investing in Lawrence, Kansas (66049)
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Should you buy in 66049 (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 (66049)?
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Market Analysis: 66049 Lawrence
This part of Douglas County is not an easy win. The 66049 ZIP clocks in at softness in key indicators, and the playbook that works in cleaner markets often stalls here.
Distressed does not mean uninvestable. It means the margin for error is thinner. ZIP 66049 rewards the prepared, punishes the overconfident, and leaves the math unchanged either way.
Nearby ZIPs in Lawrence have seen price recovery that 66049 has not matched. Douglas County data supports the view that the spread is structural rather than temporary.
Demographically, 66049 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.
Strategy in 66049 is an operator game, not a passive one. On the rental side, entry prices of $401K are inviting, the management lift is real and non-optional.
Here's what matters if you're considering buying a home in Lawrence:
Property Strategy for 66049
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $146,269 | $1,060 | 5.2% | +4.7% | $146,269 |
| 2BR | $222,269 | $1,240 | 4.0% | +6.9% | $111,135 |
| 3BR | $324,340 | $1,720 | 3.8% | +7.7% | $108,113 |
| 4BR | $431,993 | $2,080 | 3.5% | +6.9% | $107,998 |
| 5BR | $565,096 | — | — | +6.8% | $113,019 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 66049 Compare?
| Metric | 66049 | Lawrence | Lawrence, KS | Kansas |
|---|---|---|---|---|
| Home Value | $400,992 | $268,296 | N/A | $237,409 |
| 5-Year CAGR | 5.6% | 6.2% | N/A | 7.2% |
| Avg Rent | $1,770 | $1,418 | N/A | - |
| Cap Rate | 3.4% | 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 66049 (Lawrence, KS). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $400,992 |
| Monthly Rent | $1,770 |
| Price-to-Rent | 18.9:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.3% |
| Cap Rate | 3.4% |
| 5-Year IRR | 9.0% |
📈 Home Appreciation
| 1-Year | +6.7% ▲ |
| 3-Year CAGR | +4.8% ▲ |
| 5-Year CAGR | +5.6% ▲ |
| 10-Year CAGR | +6.2% ▲ |
🏠 Rent Trends
| 1-Year | -4.3% ▼ |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (3.4%). 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 66049
Population: 31,351
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 66049
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
How qualified is the tenant pool in Lawrence, KS?
The tenant pool in Lawrence, KS is solid, supported by local employment and population fundamentals. Rents of $1,770/mo are well-absorbed by the market.
Is Lawrence, KS a good place for real estate investing?
Yes - Lawrence, KS a 3.0/5 investability score. With $401K home prices against $1,770/mo monthly rent, the market delivers a reasonable entry point for new investors.
What approach is best for Lawrence, KS real estate?
Investors who focus on careful cash-flow rentals with hands-on management typically do well in Lawrence, KS. The numbers - $401K homes against $1,770/mo rents - support that play.
How high is vacancy risk in Lawrence, KS?
Lawrence, KS carries elevated vacancy risk. Expect predictable absorption at market rents of $1,770/mo.
How strict are landlord regulations in Lawrence, KS?
Rental owners in Lawrence, KS deal with a landlord-friendly legal framework. Most standard eviction processes run on reasonable timelines.
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How 66049 ranks in Lawrence, KS
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