Real Estate Investing in Riley, Kansas (66531)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 66531 (Riley, 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: 12.5% of homes vacant — above national norms.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Riley, KS (66531)?
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Market Analysis: 66531 Riley
ZIP 66531 inside Riley County looks affordable on the surface — median value of $226K — but the discount exists for reasons that a careful buyer should understand before committing.
If the plan assumes clean turnover, on-time rent, and low maintenance on a $226K asset, 66531 is the wrong submarket. If the plan prices in friction, the yield can still work.
Stepping back, 66531 offers a low basis, the region around Riley has moved on in ways that the ZIP itself has not fully absorbed. The result is a discount with genuine reasons.
Put differently, 1,348 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.
Experienced landlords with local relationships tend to find 66531 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 Riley:
Property Strategy for 66531
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $148,998 | $1,190 | 5.8% | +8.1% | $74,499 |
| 3BR | $222,303 | $1,660 | 5.4% | +7.5% | $74,101 |
| 4BR | $253,757 | $2,000 | 5.7% | +7.3% | $63,439 |
Market Trends
Home Value History (with trend line)
📊 How Does 66531 Compare?
| Metric | 66531 | Riley | Manhattan, KS | Kansas |
|---|---|---|---|---|
| Home Value | $226,261 | $226,261 | N/A | $237,409 |
| 5-Year CAGR | 6.0% | 6.0% | N/A | 7.2% |
| Avg Rent | $1,071 | $1,071 | N/A | - |
| Cap Rate | 3.7% | 3.7% | - | - |
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 66531 (Riley, KS). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $226,261 |
| Monthly Rent | $1,071 |
| Price-to-Rent | 17.6:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.7% |
| Cap Rate | 3.7% |
| 5-Year IRR | 9.7% |
📈 Home Appreciation
| 1-Year | +8.1% ▲ |
| 3-Year CAGR | +6.7% ▲ |
| 5-Year CAGR | +6.0% ▲ |
| 10-Year CAGR | +5.7% ▲ |
🏠 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 (3.7%). 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 66531
Population: 1,348
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 66531
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
Investor Insight: With 806 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
How does Riley, KS rate as a rental market?
Riley, KS scores 3.0/5 for investability. Home values sit at $226K and rents near $1,071/mo, which keeps the rent-to-price ratio in reasonable territory for buy-and-hold investors.
Are there empty rentals in Riley, KS?
Vacancy in Riley, KS is elevated, which keeps landlord downtime on reasonable timelines. Most properties lease within the standard window at $1,071/mo.
How much do tenants pay in Riley, KS?
Rent in Riley, KS is around $1,071/mo. The resulting rent-to-value relationship with $226K pricing is reasonable for most investor models.
What approach is best for Riley, KS real estate?
The best-fit strategy in Riley, KS is careful cash-flow rentals with hands-on management. That approach the rent and price profile of the market.
How strong is tenant demand in Riley, KS?
Working renters make up the core of the Riley, KS tenant base. The pool is reasonable for investors targeting long-term holds.
You know 66531 now. You don’t know where it ranks.
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How 66531 ranks in Manhattan, KS
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