Real Estate Investing in Topeka, Kansas (66614)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 66614 (Topeka, 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 Topeka, KS (66614)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 66614 Topeka
Not every below-median market is a bargain. Topeka's 66614 ZIP sits at signals that favor experienced operators who can absorb the risk $243K pricing implies.
Distressed does not mean uninvestable. It means the margin for error is thinner. ZIP 66614 rewards the prepared, punishes the overconfident, and leaves the math unchanged either way.
ZIP 66614's metrics run below Shawnee County's averages on price growth and tenant stability. Investors who ignore that regional gap tend to relearn it the hard way.
Demographically, 66614 is a market where tenant selection matters more than unit finishes. Operators who understand that tend to do fine; those who do not tend to learn why the ZIP trades at a discount.
The 66614 ZIP fits a narrow investor profile — hands-on, patient, and willing to accept that the cap rate on paper is not the cap rate in reality.
Here's what matters if you're considering buying a home in Topeka:
Property Strategy for 66614
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $75,614 | $880 | 8.4% | +10.1% | $75,614 |
| 2BR | $141,419 | $1,140 | 5.8% | +8.0% | $70,709 |
| 3BR | $228,558 | $1,500 | 4.7% | +7.8% | $76,186 |
| 4BR | $305,589 | $1,520 | 3.6% | +7.7% | $76,397 |
| 5BR | $375,942 | — | — | +7.6% | $75,188 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 66614 Compare?
| Metric | 66614 | Topeka | Topeka, KS | Kansas |
|---|---|---|---|---|
| Home Value | $243,038 | $119,504 | N/A | $237,409 |
| 5-Year CAGR | 6.7% | 8.1% | N/A | 7.2% |
| Avg Rent | $1,500 | $1,193 | N/A | - |
| Cap Rate | 4.8% | 5.9% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 66614 (Topeka, KS). Anonymous, moderated, never written by AI.
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Property managers serving Shawnee County
Manage rentals here? List your business →WCW Property Management specializes in single and multi-family dwellings and HOAs in Northeast Kansas, Wichita, and Kansas City, KS and MO, offering services for tenants, owners, and investors. summary from their website
PURE Property Management of Kansas offers property management services. summary from their website
Rental Management Solutions provides property management services in Northeast Kansas, including rental search, tenant portal, and owner FAQs. summary from their website
Listings are shown for convenience — Repit doesn’t endorse or vet these companies. Ratings shown come only from email-verified visitors.
📊 Market Snapshot
| Home Value | $243,038 |
| Monthly Rent | $1,500 |
| Price-to-Rent | 13.5:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 7.4% |
| Cap Rate | 4.8% |
| 5-Year IRR | 11.5% |
📈 Home Appreciation
| 1-Year | +5.4% ▲ |
| 3-Year CAGR | +4.4% ▲ |
| 5-Year CAGR | +6.7% ▲ |
| 10-Year CAGR | +6.5% ▲ |
🏠 Rent Trends
| 1-Year | +15.4% ▲ |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (4.8%). 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 66614
Population: 32,586
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 66614
Schools in This ZIP Code
Nearby Schools (1 more)
Schools in adjacent ZIP codes that may serve this area
Jay Shideler 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 1,242 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
What kind of market is Topeka, KS for investors?
With a 3.0/5 investability score, Topeka, KS ranks as a solid market for rental property investors. Median prices of $243K and rents of $1,500/mo drive the underlying numbers.
What is the renter demographic in Topeka, KS?
The tenant pool in Topeka, KS is solid, supported by local employment and population fundamentals. Rents of $1,500/mo are well-absorbed by the market.
How high is vacancy risk in Topeka, KS?
Topeka, KS vacancy trends elevated. Investors running standard buy-and-hold plays see reasonable downtime between tenants.
How do landlord-tenant laws work in Topeka, KS?
Topeka, KS operates under KS law, which is landlord-friendly overall for landlords. Expect steady treatment in typical lease and eviction cases.
Are rents high in Topeka, KS?
Investors in Topeka, KS typically see rents near $1,500/mo per month against $243K home values - a solid setup for rental cash flow.
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How 66614 ranks in Topeka, KS
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