Real Estate Investing in Peabody, Kansas (66866)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 66866 (Peabody, 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: 18.2% 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 Peabody, KS (66866)?
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Market Analysis: 66866 Peabody
Not every below-median market is a bargain. Peabody's 66866 ZIP shows signals that favor experienced operators who can absorb the risk $115K pricing implies.
If the plan assumes clean turnover, on-time rent, and low maintenance on a $115K asset, 66866 is the wrong submarket. If the plan prices in friction, the yield can still work.
Within KS, ZIP 66866 trails on several market indicators that neighboring Marion County submarkets outperform. The gap is real and notable enough to shape underwriting.
Resident income in 66866 sits below the county median. That reality colors rent collection, vacancy, and reinvestment math in ways that outside investors often underestimate.
The 66866 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 Peabody:
Property Strategy for 66866
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $62,393 | $950 | 11.0% | +7.0% | $31,197 |
| 3BR | $124,806 | $1,250 | 7.2% | +8.7% | $41,602 |
Market Trends
Home Value History (with trend line)
📊 How Does 66866 Compare?
| Metric | 66866 | Peabody | Wichita, KS | Kansas |
|---|---|---|---|---|
| Home Value | $114,944 | $114,944 | N/A | $237,409 |
| 5-Year CAGR | 7.7% | 7.7% | N/A | 7.2% |
| Avg Rent | $855 | $855 | N/A | - |
| Cap Rate | 5.8% | 5.8% | - | - |
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 66866 (Peabody, KS). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $114,944 |
| Monthly Rent | $855 |
| Price-to-Rent | 11.2:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 8.9% |
| Cap Rate | 5.8% |
| 5-Year IRR | 13.5% |
📈 Home Appreciation
| 1-Year | +8.4% ▲ |
| 3-Year CAGR | +5.7% ▲ |
| 5-Year CAGR | +7.7% ▲ |
| 10-Year CAGR | +6.8% ▲ |
🏠 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 (5.8%). 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 66866
Population: 1,714
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 66866
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
What investment strategy works best in Peabody, KS?
Investors who focus on careful cash-flow rentals with hands-on management typically do well in Peabody, KS. The numbers - $115K homes against $855/mo rents - support that play.
Is housing expensive in Peabody, KS?
In Peabody, KS the median home value sits at $115K. Against the broader KS market, that reads as reasonable for most investors.
How much do tenants pay in Peabody, KS?
Average rent in Peabody, KS is approximately $855/mo per month. Against $115K home values that yields a reasonable rent-to-price ratio.
What is it like being a landlord in Peabody, KS?
Peabody, KS operates under KS law, which is landlord-friendly overall for landlords. Expect predictable treatment in typical lease and eviction cases.
Is Peabody in KS worth investing in?
The 3.0/5 investability rating in Peabody, KS reflects its $115K prices and $855/mo rents. Investors generally consider it a solid option within KS.
You know 66866 now. You don’t know where it ranks.
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How 66866 ranks in Wichita, KS
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