Real Estate Investing in Colony, Kansas (66015)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 66015 (Colony, 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: 17.1% 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 Colony, KS (66015)?
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Market Analysis: 66015 Colony
ZIP 66015 inside Anderson County looks affordable on the surface — median value of $162K — but the discount exists for reasons that a careful buyer should understand before committing.
Rent of $792/mo on a $162K basis reads well until vacancy, delinquency, and capex enter the model. The honest cap rate in 66015 sits below the stated 0.0% once reality is priced in.
ZIP 66015's metrics run below Anderson County's averages on price growth and tenant stability. Investors who ignore that regional gap tend to relearn it the hard way.
A impressive renter share of 24% in 66015 is not, on its own, a problem — but paired with below-average income and high mobility, it changes the operating playbook.
Experienced landlords with local relationships tend to find 66015 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 Colony:
Market Trends
Home Value History (with trend line)
📊 How Does 66015 Compare?
| Metric | 66015 | Colony | Kansas |
|---|---|---|---|
| Home Value | $161,791 | $161,791 | $237,409 |
| 5-Year CAGR | 5.8% | 5.8% | 7.2% |
| Avg Rent | $792 | $792 | - |
| Cap Rate | 3.8% | 3.8% | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 66015 (Colony, KS). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $161,791 |
| Monthly Rent | $792 |
| Price-to-Rent | 17.0:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.9% |
| Cap Rate | 3.8% |
| 5-Year IRR | 9.6% |
📈 Home Appreciation
| 1-Year | +5.0% ▲ |
| 3-Year CAGR | +5.1% ▲ |
| 5-Year CAGR | +5.8% ▲ |
| 10-Year CAGR | +7.7% ▲ |
🏠 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 (3.8%). 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 66015
Population: 650
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 66015
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
Frequently Asked Questions
How do home values compare in Colony, KS?
Homes in Colony, KS typically sell near $162K. Prices have moved at a 0.0% 5-year CAGR, which stable long-term demand.
Are tenants stable in Colony, KS?
Working renters make up the core of the Colony, KS tenant base. The pool is reasonable for investors targeting long-term holds.
Is Colony, KS a smart market for rental property?
With a 3.0/5 investability score, Colony, KS ranks as a solid market for rental property investors. Median prices of $162K and rents of $792/mo drive the underlying numbers.
Are there empty rentals in Colony, KS?
Colony, KS sees elevated vacancy, which is reasonable relative to the broader KS rental market.
Can I house hack in Colony, KS?
Colony, KS offers a challenging house-hacking opportunity. Small multifamily or rent-by-the-room plays can pair well with the $792/mo rent level.
You know 66015 now. You don’t know where it ranks.
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