Real Estate Investing in Council Grove, Kansas (66846)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 66846 (Council Grove, 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: 27.8% 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 Council Grove, KS (66846)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 66846 Council Grove
ZIP 66846 inside Morris County looks affordable on the surface — median value of $229K — 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 $229K asset, 66846 is the wrong submarket. If the plan prices in friction, the yield can still work.
ZIP 66846's metrics run below Morris County's averages on price growth and tenant stability. Investors who ignore that regional gap tend to relearn it the hard way.
The demographic picture in 66846 includes headwinds that any investor should price in. Income distribution skews lower than Council Grove averages, and tenant stability requires active management.
Experienced landlords with local relationships tend to find 66846 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 Council Grove:
Property Strategy for 66846
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $136,472 | $890 | 4.7% | +7.8% | $68,236 |
| 3BR | $214,194 | $1,160 | 3.9% | +8.4% | $71,398 |
| 4BR | $292,231 | $1,420 | 3.5% | +9.0% | $73,058 |
Market Trends
Home Value History (with trend line)
📊 How Does 66846 Compare?
| Metric | 66846 | Council Grove | Emporia, KS | Kansas |
|---|---|---|---|---|
| Home Value | $229,465 | $229,465 | N/A | $237,409 |
| 5-Year CAGR | 9.7% | 9.7% | N/A | 7.2% |
| Avg Rent | $801 | $801 | N/A | - |
| Cap Rate | 2.7% | 2.7% | - | - |
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 66846 (Council Grove, KS). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $229,465 |
| Monthly Rent | $801 |
| Price-to-Rent | 23.9:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.2% |
| Cap Rate | 2.7% |
| 5-Year IRR | 12.4% |
📈 Home Appreciation
| 1-Year | +20.2% ▲ |
| 3-Year CAGR | +9.4% ▲ |
| 5-Year CAGR | +9.7% ▲ |
| 10-Year CAGR | +8.1% ▲ |
🏠 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 (2.7%). 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 66846
Population: 3,331
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 66846
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
What kind of market is Council Grove, KS for investors?
Investors tracking Council Grove, KS will find a 3.0/5 rating supported by $229K median home values and $801/mo rents. That profile suits long-term holders targeting consistent returns.
Are rents high in Council Grove, KS?
Rents in Council Grove, KS run near $801/mo. Compared with median home prices of $229K that produces solid gross yields for typical rentals.
Is the tenant base reliable in Council Grove, KS?
Tenant demand in Council Grove, KS is solid. The local workforce $801/mo rents across most rental classes.
How do experienced investors play Council Grove, KS?
Investors who focus on careful cash-flow rentals with hands-on management typically do well in Council Grove, KS. The numbers - $229K homes against $801/mo rents - support that play.
How tight is the rental market in Council Grove, KS?
Council Grove, KS carries elevated vacancy risk. Expect measured absorption at market rents of $801/mo.
You know 66846 now. You don’t know where it ranks.
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How 66846 ranks in Emporia, KS
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