Real Estate Investing in Lenexa, Kansas (66227)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 66227 (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.
No major risk flags on the data we track.
What’s happening in Lenexa, KS (66227)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 66227 Lenexa
This part of Johnson County is not an easy win. The 66227 ZIP shows softness in key indicators, and the playbook that works in cleaner markets often stalls here.
Turning to rents, the numbers look inviting — $562K purchase price, 0.0% nominal cap — the work to hit that pro forma in 66227 is substantial and deserves full respect.
Regionally, 66227 sits on the difficult end of the KS spectrum. The a strong candidate for read — for disciplined operators — is that pricing reflects the difficulty.
Meanwhile, 8,897 residents fill the ZIP, renter turnover runs higher than neighboring postal codes and delinquency risk is a real line item rather than a theoretical one.
New investors are better served looking at Lenexa's stable or hybrid ZIPs before stepping into 66227. The learning curve here is expensive when the lesson is wrong.
Here's what matters if you're considering buying a home in Lenexa:
Property Strategy for 66227
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $341,139 | $2,040 | 4.3% | +5.5% | $170,569 |
| 3BR | $387,870 | $2,660 | 4.9% | +5.0% | $129,290 |
| 4BR | $611,013 | $3,160 | 3.7% | +7.1% | $152,753 |
| 5BR | $694,088 | — | — | +6.7% | $138,818 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 66227 Compare?
| Metric | 66227 | Lenexa | Kansas City, MO-KS | Kansas |
|---|---|---|---|---|
| Home Value | $561,506 | $531,760 | N/A | $237,409 |
| 5-Year CAGR | 5.9% | 5.8% | N/A | 7.2% |
| Avg Rent | $2,355 | $1,877 | N/A | - |
| Cap Rate | 3.3% | 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 66227 (Lenexa, KS). Anonymous, moderated, never written by AI.
Do you own or manage rentals in ZIP 66227 (Lenexa, KS)?
~25 seconds · no account needed · your report is anonymous
📊 Market Snapshot
| Home Value | $561,506 |
| Monthly Rent | $2,355 |
| Price-to-Rent | 19.9:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.0% |
| Cap Rate | 3.3% |
| 5-Year IRR | 9.1% |
📈 Home Appreciation
| 1-Year | +2.7% ▲ |
| 3-Year CAGR | +3.5% ▲ |
| 5-Year CAGR | +5.9% ▲ |
| 10-Year CAGR | +6.0% ▲ |
🏠 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 (3.3%). 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 66227
Population: 8,897
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 66227
Schools in This ZIP Code
Nearby Schools (1 more)
Schools in adjacent ZIP codes that may serve this area
Manchester Park 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 8,067 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
Is real estate in Lenexa, KS a good investment right now?
Lenexa, KS scores 3.0/5 for investability. Home values sit at $562K and rents near $2,355/mo, which keeps the rent-to-price ratio in reasonable territory for buy-and-hold investors.
What real estate strategy is ideal for Lenexa, KS?
For Lenexa, KS, careful cash-flow rentals with hands-on management is the standard investor playbook. The market structure makes it a reasonable default approach.
How much do tenants pay in Lenexa, KS?
Rent in Lenexa, KS is around $2,355/mo. The resulting rent-to-value relationship with $562K pricing is reasonable for most investor models.
How strong is the working-renter base in Lenexa, KS?
The renter base in Lenexa, KS is reasonable for the $2,355/mo price point. Screening well and pricing to market typically yields stable tenants.
Are landlord laws favorable in Lenexa, KS?
Lenexa, KS operates under KS law, which is landlord-friendly overall for landlords. Expect measured treatment in typical lease and eviction cases.
You know 66227 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 66227 compares to every other market. Investor ($19/mo) screens every U.S. ZIP by cap rate, the 1% rule, vacancy and landlord climate, and exports your shortlist.
How 66227 ranks in Kansas City, MO-KS
Every ZIP in this metro, ranked. Free.
AI Market Advisor
Ask questions about investing in 66227 (Lenexa)
Community Ratings
What people who’ve spent time here actually say. Not paid reviews.
Be the first to rate 66227 (Lenexa, KS).
It takes 30 seconds. No signup. Your rating helps everyone who comes here after you.