Real Estate Investing in Florence, Kansas (66851)
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Should you buy in 66851 (Florence, 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 balanced market — moderate cash flow and moderate appreciation. A "steady" investor profile fits best.
- High vacancy: 24.0% of homes vacant — above national norms.
- Lower household income: $31,042 median — tenant affordability is tighter.
• Limited market data — this is a very small market; averages are built from few observations and can swing widely. • Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Florence, KS (66851)?
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Market Analysis: 66851 Florence
The 66851 ZIP posts an significant value-add profile — below-median pricing at $63K, a renter base of 27%, and room for operational improvement.
In 66851, the deal is made on the buy and on the capex. resilient entry prices of $63K leave room in the budget for light-to-medium renovation, with rent lift to match.
Relative to KS, 66851 reads as a working-capital ZIP — prices below average, renter share elevated at 27%, and room for operator-led upside.
Residents in 66851 skew younger than the county average, and that matters for rehab positioning. Younger renters respond to finishes, appliances, and in-unit laundry in ways that move rent.
Value-add plays pencil in 66851 when three things line up: a sub-median purchase, a realistic rehab budget, and a post-rehab rent comp that stands up. All three are present in this ZIP.
Here's what matters if you're considering buying a home in Florence:
Market Trends
Home Value History (with trend line)
📊 How Does 66851 Compare?
| Metric | 66851 | Florence | Kansas |
|---|---|---|---|
| Home Value | $62,615 | $62,615 | $237,409 |
| 5-Year CAGR | 6.0% | 6.0% | 7.2% |
| Avg Rent | $855 | $855 | - |
| Cap Rate | 10.7% | 10.7% | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 66851 (Florence, KS). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $62,615 |
| Monthly Rent | $855 |
| Price-to-Rent | 6.1:1 |
| 1% Rule | ✓ Passes |
💰 Return Metrics
| Gross Yield | 16.4% |
| Cap Rate | 10.7% |
| 5-Year IRR | 16.6% |
📈 Home Appreciation
| 1-Year | +14.8% ▲ |
| 3-Year CAGR | +7.0% ▲ |
| 5-Year CAGR | +6.0% ▲ |
| 10-Year CAGR | +3.7% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The estimated cap rate (10.7%) exceeds the current 30-yr mortgage rate (6.8%). When borrowing costs less than a property yields, leverage can increase your cash-on-cash return above the cap rate.
⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 66851
Population: 645
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
Frequently Asked Questions
What do rentals go for in Florence, KS?
Rents in Florence, KS run near $855/mo. Compared with median home prices of $63K that produces solid gross yields for typical rentals.
Is housing expensive in Florence, KS?
Expect median prices around $63K in Florence, KS. The market has run at a 0.0% 5-year CAGR, so entry costs have been measured.
Should investors consider Florence, KS?
Florence, KS clocks in at an investability rating of 5.0/5, with median home values near $63K and average rents around $855/mo. That combination puts it in the durable tier for investor interest.
Can investors hit the 1% rule in Florence, KS?
With rents of $855/mo on $63K homes, Florence, KS close to the 1% rule for most properties. The actual rent-to-price ratio is 1.37%.
What approach is best for Florence, KS real estate?
Florence, KS investors pursuing value-add and BRRRR deals. The underlying economics ($63K prices, $855/mo rents) make it a reasonable choice.
You know 66851 now. You don’t know where it ranks.
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