Real Estate Investing in Lenexa, Kansas (66220)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 66220 (Lenexa, KS)? Our answer, based on the numbers below.
Solid choice — values are growing steadily and the market is stable enough to buy with confidence.
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 33.0 — hard to cash-flow at these prices.
What’s happening in Lenexa, KS (66220)?
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Market Analysis: 66220 Lenexa
The 66220 ZIP covers a section of Lenexa that demands careful diligence. Prices near $690K look accessible, but the work to make a deal cash flow is real.
Distressed markets are won on execution, not on spreadsheets. ZIP 66220 registers the profile where tenant screening, deferred maintenance, and local relationships determine the outcome.
In the broader KS picture, 66220 is a reminder that not every low-priced ZIP is a value-add opportunity — some are simply distressed, and the difference matters.
The demographic picture in 66220 includes headwinds that any investor should price in. Income distribution skews lower than Lenexa averages, and tenant stability requires active management.
Strategically, 66220 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 Lenexa:
Property Strategy for 66220
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 3BR | $557,571 | $1,910 | 2.5% | +6.0% | $185,857 |
| 4BR | $657,303 | $2,280 | 2.5% | +7.1% | $164,326 |
| 5BR | $763,301 | — | — | +7.1% | $152,660 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 66220 Compare?
| Metric | 66220 | Lenexa | Kansas City, MO-KS | Kansas |
|---|---|---|---|---|
| Home Value | $689,506 | $531,760 | N/A | $237,409 |
| 5-Year CAGR | 5.4% | 5.8% | N/A | 7.2% |
| Avg Rent | $1,739 | $1,877 | N/A | - |
| Cap Rate | 2.0% | 2.8% | - | - |
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 66220 (Lenexa, KS). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $689,506 |
| Monthly Rent | $1,739 |
| Price-to-Rent | 33.0:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 3.0% |
| Cap Rate | 2.0% |
| 5-Year IRR | 7.3% |
📈 Home Appreciation
| 1-Year | +6.5% ▲ |
| 3-Year CAGR | +3.4% ▲ |
| 5-Year CAGR | +5.4% ▲ |
| 10-Year CAGR | +5.2% ▲ |
🏠 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 (2.0%). 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 66220
Population: 8,166
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 66220
Schools in This ZIP Code
Nearby Schools (5 more)
Schools in adjacent ZIP codes that may serve this area
Canyon Creek Elementary
Christa McAuliffe Elem
Lenexa Hills Elementary
Sunflower Elem
Horizon 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
Investor Insight: With 5,786 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
Where do home prices stand in Lenexa, KS?
Homes in Lenexa, KS typically sell near $690K. Prices have moved at a 0.0% 5-year CAGR, which reliable long-term demand.
What kind of tenants rent in Lenexa, KS?
Expect a solid tenant pool in Lenexa, KS. The rental market absorbs $1,739/mo rents without meaningful friction.
What investment strategy works best in Lenexa, KS?
Investors who focus on careful cash-flow rentals with hands-on management typically do well in Lenexa, KS. The numbers - $690K homes against $1,739/mo rents - support that play.
Are landlord laws favorable in Lenexa, KS?
KS ranks as a landlord-friendly state for landlord-tenant law. Lenexa generally follows the statewide framework, so landlords face reasonable operating rules.
What is the typical rental rate in Lenexa, KS?
Lenexa, KS rentals go for roughly $1,739/mo a month. That puts gross yield in solid territory relative to $690K acquisition costs.
You know 66220 now. You don’t know where it ranks.
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How 66220 ranks in Kansas City, MO-KS
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