Real Estate Investing in Topeka, Kansas (66616)
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Should you buy in 66616 (Topeka, KS)? Our answer, based on the numbers below.
Strong fundamentals — affordable, appreciating, and stable. A confident pick for primary residence.
Rare combination of both appreciation and cash flow. These markets don't last long — worth serious consideration.
- Elevated vacancy: 10.4% vacancy may signal weakening demand.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Topeka, KS (66616)?
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Market Analysis: 66616 Topeka
ZIP 66616 in Topeka, KS carries a solid set of headwinds. Home values near $106K and rents of $963/mo sit inside a market where underwriting has to be tight.
If the plan assumes clean turnover, on-time rent, and low maintenance on a $106K asset, 66616 is the wrong submarket. If the plan prices in friction, the yield can still work.
Regionally, 66616 sits on the difficult end of the KS spectrum. The a solid fit for read — for disciplined operators — is that pricing reflects the difficulty.
A durable renter share of 33% in 66616 is not, on its own, a problem — but paired with below-average income and high mobility, it changes the operating playbook.
Distressed ZIPs reward experience. resilient returns are possible in 66616, but they flow to investors who already understand how to operate in soft markets.
Here's what matters if you're considering buying a home in Topeka:
Property Strategy for 66616
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $58,301 | $830 | 10.3% | +9.6% | $58,301 |
| 2BR | $93,879 | $1,070 | 8.2% | +11.7% | $46,940 |
| 3BR | $118,088 | $1,410 | 8.6% | +10.1% | $39,363 |
| 4BR | $128,744 | $1,430 | 8.0% | +10.3% | $32,186 |
Market Trends
Home Value History (with trend line)
📊 How Does 66616 Compare?
| Metric | 66616 | Topeka | Topeka, KS | Kansas |
|---|---|---|---|---|
| Home Value | $106,478 | $119,504 | N/A | $237,409 |
| 5-Year CAGR | 10.0% | 8.1% | N/A | 7.2% |
| Avg Rent | $963 | $1,193 | N/A | - |
| Cap Rate | 7.1% | 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 66616 (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 | $106,478 |
| Monthly Rent | $963 |
| Price-to-Rent | 9.2:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 10.9% |
| Cap Rate | 7.1% |
| 5-Year IRR | 17.0% |
📈 Home Appreciation
| 1-Year | +5.9% ▲ |
| 3-Year CAGR | +7.5% ▲ |
| 5-Year CAGR | +10.0% ▲ |
| 10-Year CAGR | +8.6% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) is close to the estimated cap rate (7.1%). Financing this market at current rates produces a cash-on-cash return near the cap rate. Appreciation and tax benefits may still support the investment.
⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 66616
Population: 6,065
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 66616
Schools in This ZIP Code
Nearby Schools (3 more)
Schools in adjacent ZIP codes that may serve this area
Scott Dual Language Magnet
Quincy Elem
Logan 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
Is real estate in Topeka, KS a good investment right now?
Yes - Topeka, KS a 4.0/5 investability score. With $106K home prices against $963/mo monthly rent, the market delivers a reasonable entry point for new investors.
Does Topeka, KS favor landlords or tenants?
KS ranks as a landlord-friendly state for landlord-tenant law. Topeka generally follows the statewide framework, so landlords face reasonable operating rules.
How quickly do rentals get leased in Topeka, KS?
Occupancy in Topeka, KS runs consistent with elevated vacancy. Well-priced units at $963/mo lease on reasonable timelines.
What real estate strategy is ideal for Topeka, KS?
A careful cash-flow rentals with hands-on management strategy Topeka, KS best. The market produces reliable results for that approach at the $106K price point.
How strong are rents in Topeka, KS?
Rents in Topeka, KS run near $963/mo. Compared with median home prices of $106K that produces solid gross yields for typical rentals.
You know 66616 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 66616 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 66616 ranks in Topeka, KS
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