Real Estate Investing in Wamego, Kansas (66547)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 66547 (Wamego, 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.
- Elevated vacancy: 8.7% vacancy may signal weakening demand.
- High price-to-rent: Price-to-rent ratio 29.2 — hard to cash-flow at these prices.
What’s happening in Wamego, KS (66547)?
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Market Analysis: 66547 Wamego
The 66547 ZIP in Wamego, KS is a local-operator market. Outside capital chasing a $311K entry has to pair deep knowledge with the discount.
Distressed markets are won on execution, not on spreadsheets. ZIP 66547 reports the profile where tenant screening, deferred maintenance, and local relationships determine the outcome.
Statewide comparisons place 66547 among KS's softer markets. That context does not make the ZIP uninvestable, but it does raise the bar for due diligence.
Resident income in 66547 sits below the county median. That reality colors rent collection, vacancy, and reinvestment math in ways that outside investors often underestimate.
Strategy in 66547 is an operator game, not a passive one. Meanwhile, entry prices of $311K are inviting, the management lift is real and non-optional.
Here's what matters if you're considering buying a home in Wamego:
Property Strategy for 66547
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $184,269 | $1,060 | 4.1% | +6.5% | $92,135 |
| 3BR | $270,020 | $1,480 | 3.9% | +6.4% | $90,007 |
| 4BR | $343,797 | $1,770 | 3.7% | +6.5% | $85,949 |
| 5BR | $475,590 | — | — | +6.6% | $95,118 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 66547 Compare?
| Metric | 66547 | Wamego | Manhattan, KS | Kansas |
|---|---|---|---|---|
| Home Value | $311,381 | $311,381 | N/A | $237,409 |
| 5-Year CAGR | 5.7% | 5.7% | N/A | 7.2% |
| Avg Rent | $888 | $888 | N/A | - |
| Cap Rate | 2.2% | 2.2% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 66547 (Wamego, KS). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $311,381 |
| Monthly Rent | $888 |
| Price-to-Rent | 29.2:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 3.4% |
| Cap Rate | 2.2% |
| 5-Year IRR | 8.0% |
📈 Home Appreciation
| 1-Year | +7.3% ▲ |
| 3-Year CAGR | +5.9% ▲ |
| 5-Year CAGR | +5.7% ▲ |
| 10-Year CAGR | +5.3% ▲ |
🏠 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 (2.2%). 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 66547
Population: 8,387
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 66547
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.
Frequently Asked Questions
Is KS a landlord-friendly state?
Landlord-friendliness in Wamego, KS is landlord-friendly. Eviction timelines and lease enforcement are considered reasonable by most property managers.
What investment strategy works best in Wamego, KS?
In Wamego, KS the notable play is typically careful cash-flow rentals with hands-on management. The combination of $311K prices and $888/mo rents suits that approach.
What price range are homes in Wamego, KS?
Median home price in Wamego, KS is near $311K, with a 5-year CAGR of 0.0%. Prices have been even-keeled and supportive of buy-and-hold strategies.
Is Wamego, KS a good market for FHA house hackers?
Wamego, KS is a a challenging market for house hackers. FHA or conventional owner-occupant buyers find the $311K price point reasonable to enter.
Is vacancy a concern in Wamego, KS?
Rental vacancy in Wamego, KS is elevated. Investors should budget normal turnover but not chronic empty units.
You know 66547 now. You don’t know where it ranks.
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