Real Estate Investing in Erie, Kansas (66733)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 66733 (Erie, 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.
- High vacancy: 16.5% 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 Erie, KS (66733)?
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Market Analysis: 66733 Erie
Stepping back, ZIP 66733 has challenges — vacancy pressure, softer price growth, and tenant stability concerns sit alongside the $136K median. It rewards specialists, not generalists.
The investment case in 66733 is robust only for operators who understand what they are buying. A $136K median suggests accessibility, but management intensity, vacancy drift, and capex surprises are real.
Within KS, ZIP 66733 trails on several market indicators that neighboring Neosho County submarkets outperform. The gap is real and substantial enough to shape underwriting.
Demographically, 66733 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.
Experienced landlords with local relationships tend to find 66733 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 Erie:
Property Strategy for 66733
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $76,107 | $880 | 8.3% | +5.6% | $38,054 |
| 3BR | $142,319 | $1,130 | 5.7% | +8.4% | $47,440 |
| 4BR | $192,141 | $1,350 | 5.1% | +7.7% | $48,035 |
Market Trends
Home Value History (with trend line)
📊 How Does 66733 Compare?
| Metric | 66733 | Erie | Kansas |
|---|---|---|---|
| Home Value | $136,154 | $136,154 | $237,409 |
| 5-Year CAGR | 6.8% | 6.8% | 7.2% |
| Avg Rent | $792 | $792 | - |
| Cap Rate | 4.5% | 4.5% | - |
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 66733 (Erie, KS). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $136,154 |
| Monthly Rent | $792 |
| Price-to-Rent | 14.3:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 7.0% |
| Cap Rate | 4.5% |
| 5-Year IRR | 11.3% |
📈 Home Appreciation
| 1-Year | +10.2% ▲ |
| 3-Year CAGR | +3.3% ▲ |
| 5-Year CAGR | +6.8% ▲ |
| 10-Year CAGR | +7.2% ▲ |
🏠 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 (4.5%). 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 66733
Population: 1,966
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 66733
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
Frequently Asked Questions
Where do rents currently stand in Erie, KS?
Rents in Erie, KS run near $792/mo. Compared with median home prices of $136K that produces solid gross yields for typical rentals.
How deep is the rental pool in Erie, KS?
Erie, KS offers a predictable renter base at the $792/mo rent level. Tenant turnover is reasonable for well-managed properties.
How much should I expect to pay for a home in Erie, KS?
Median home price in Erie, KS is near $136K, with a 5-year CAGR of 0.0%. Prices have been consistent and supportive of buy-and-hold strategies.
What kind of market is Erie, KS for investors?
With a 3.0/5 investability score, Erie, KS ranks as a solid market for rental property investors. Median prices of $136K and rents of $792/mo drive the underlying numbers.
What approach is best for Erie, KS real estate?
Most investors in Erie, KS run a careful cash-flow rentals with hands-on management strategy. It aligns with the 3.0/5 investability profile and the market fundamentals.
You know 66733 now. You don’t know where it ranks.
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