Real Estate Investing in Leawood, Kansas (66209)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 66209 (Leawood, 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.
- High price-to-rent: Price-to-rent ratio 36.0 — hard to cash-flow at these prices.
What’s happening in Leawood, KS (66209)?
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Market Analysis: 66209 Leawood
ZIP 66209 inside Johnson County looks affordable on the surface — median value of $703K — but the discount exists for reasons that a careful buyer should understand before committing.
For an experienced owner, 66209 can be a a credible choice for hunting ground — but the discount at $703K reflects genuine risk that outside investors often underestimate.
The gap between 66209 and stronger Leawood ZIPs is not closing quickly. Investors should weight long-horizon assumptions accordingly.
Employment concentration in 66209 leans toward sectors with higher volatility. The demographic consequence is income fluctuation that investors need to factor into their pro forma.
Strategically, 66209 can be a high-return sleeve of a diversified portfolio — but it should not be the whole portfolio, and it should not be someone's first deal.
Here's what matters if you're considering buying a home in Leawood:
Property Strategy for 66209
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $457,017 | $1,580 | 2.5% | +6.8% | $228,509 |
| 3BR | $531,688 | $2,060 | 2.8% | +6.6% | $177,229 |
| 4BR | $657,155 | $2,450 | 2.7% | +7.4% | $164,289 |
| 5BR | $811,180 | — | — | +7.4% | $162,236 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 66209 Compare?
| Metric | 66209 | Leawood | Kansas City, MO-KS | Kansas |
|---|---|---|---|---|
| Home Value | $702,818 | $777,436 | N/A | $237,409 |
| 5-Year CAGR | 6.6% | 6.7% | N/A | 7.2% |
| Avg Rent | $1,626 | $1,835 | N/A | - |
| Cap Rate | 1.8% | 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 66209 (Leawood, KS). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $702,818 |
| Monthly Rent | $1,626 |
| Price-to-Rent | 36.0:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 2.8% |
| Cap Rate | 1.8% |
| 5-Year IRR | 8.5% |
📈 Home Appreciation
| 1-Year | +10.6% ▲ |
| 3-Year CAGR | +5.1% ▲ |
| 5-Year CAGR | +6.6% ▲ |
| 10-Year CAGR | +5.9% ▲ |
🏠 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 (1.8%). 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 66209
Population: 20,201
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 66209
Schools in This ZIP Code
Nearby Schools (4 more)
Schools in adjacent ZIP codes that may serve this area
MARTIN CITY ELEM.
Prairie Star Elementary
Prairie Star Middle
Sunrise Point Elementary
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 does Leawood, KS rate as a rental market?
Leawood, KS registers an investability rating of 3.0/5, with median home values near $703K and average rents around $1,626/mo. That combination puts it in the impressive tier for investor interest.
What do rentals go for in Leawood, KS?
Rent in Leawood, KS is around $1,626/mo. The resulting rent-to-value relationship with $703K pricing is reasonable for most investor models.
Are eviction rules reasonable in Leawood, KS?
The landlord environment in Leawood, KS is landlord-friendly. Statewide rules shape most day-to-day operations for rental owners.
How quickly do rentals get leased in Leawood, KS?
Occupancy in Leawood, KS runs reliable with elevated vacancy. Well-priced units at $1,626/mo lease on reasonable timelines.
What real estate strategy is ideal for Leawood, KS?
Investors usually favor careful cash-flow rentals with hands-on management in Leawood, KS. With home values at $703K and rents near $1,626/mo, other strategies can work but produce predictable rather than outsized returns.
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How 66209 ranks in Kansas City, MO-KS
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