Real Estate Investing in Leawood, Kansas (66206)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 66206 (Leawood, 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 price-to-rent: Price-to-rent ratio 28.5 — hard to cash-flow at these prices.
What’s happening in Leawood, KS (66206)?
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Market Analysis: 66206 Leawood
The 66206 ZIP covers a section of Leawood that demands careful diligence. Prices near $780K look accessible, but the work to make a deal cash flow is real.
The investment case in 66206 is notable only for operators who understand what they are buying. A $780K median suggests accessibility, but management intensity, vacancy drift, and capex surprises are real.
ZIP 66206's metrics run below Johnson County's averages on price growth and tenant stability. Investors who ignore that regional gap tend to relearn it the hard way.
A solid renter share of 14% in 66206 is not, on its own, a problem — but paired with below-average income and high mobility, it changes the operating playbook.
leans the ZIP is not uninvestable, but it is unforgiving. Section 8 landlords, local operators, and specialized value-add funds are the investor types that tend to succeed.
Here's what matters if you're considering buying a home in Leawood:
Property Strategy for 66206
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $473,661 | $2,040 | 3.1% | +8.5% | $236,831 |
| 3BR | $595,935 | $2,660 | 3.2% | +7.9% | $198,645 |
| 4BR | $772,291 | $3,160 | 2.9% | +7.9% | $193,073 |
| 5BR | $1,063,130 | — | — | +8.4% | $212,626 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 66206 Compare?
| Metric | 66206 | Leawood | Kansas City, MO-KS | Kansas |
|---|---|---|---|---|
| Home Value | $780,025 | $777,436 | N/A | $237,409 |
| 5-Year CAGR | 7.8% | 6.7% | N/A | 7.2% |
| Avg Rent | $2,285 | $1,835 | N/A | - |
| Cap Rate | 2.3% | 1.8% | - | - |
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 66206 (Leawood, KS). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $780,025 |
| Monthly Rent | $2,285 |
| Price-to-Rent | 28.5:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 3.5% |
| Cap Rate | 2.3% |
| 5-Year IRR | 10.1% |
📈 Home Appreciation
| 1-Year | +13.4% ▲ |
| 3-Year CAGR | +7.1% ▲ |
| 5-Year CAGR | +7.8% ▲ |
| 10-Year CAGR | +6.5% ▲ |
🏠 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 (2.3%). 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 66206
Population: 12,030
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 66206
Schools in This ZIP Code
Nearby Schools (5 more)
Schools in adjacent ZIP codes that may serve this area
CENTER MIDDLE
BOONE ELEM.
RED BRIDGE ELEM.
CENTER SR. HIGH
YELLOW JACKET EARLY LEARNING
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
Which investment style suits Leawood, KS?
For Leawood, KS, careful cash-flow rentals with hands-on management is the standard investor playbook. The market structure makes it a reasonable default approach.
How qualified is the tenant pool in Leawood, KS?
Leawood, KS offers a predictable renter base at the $2,285/mo rent level. Tenant turnover is reasonable for well-managed properties.
Is real estate in Leawood, KS a good investment right now?
Yes - Leawood, KS a 3.0/5 investability score. With $780K home prices against $2,285/mo monthly rent, the market delivers a reasonable entry point for new investors.
Do landlords face vacancy issues in Leawood, KS?
Vacancy in Leawood, KS is elevated, which keeps landlord downtime on reasonable timelines. Most properties lease within the standard window at $2,285/mo.
Does Leawood, KS favor landlords or tenants?
KS ranks as a landlord-friendly state for landlord-tenant law. Leawood generally follows the statewide framework, so landlords face reasonable operating rules.
You know 66206 now. You don’t know where it ranks.
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How 66206 ranks in Kansas City, MO-KS
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