Real Estate Investing in Mankato, Kansas (66956)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 66956 (Mankato, 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: 21.4% 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 Mankato, KS (66956)?
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Market Analysis: 66956 Mankato
Not every below-median market is a bargain. Mankato's 66956 ZIP comes in at signals that favor experienced operators who can absorb the risk $106K pricing implies.
Looking more closely, the numbers look inviting — $106K purchase price, 0.0% nominal cap — the work to hit that pro forma in 66956 is substantial and deserves full respect.
Regionally, 66956 sits on the difficult end of the KS spectrum. The a credible choice for read — for disciplined operators — is that pricing reflects the difficulty.
Resident income in 66956 sits below the county median. That reality colors rent collection, vacancy, and reinvestment math in ways that outside investors often underestimate.
The 66956 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 Mankato:
Market Trends
Home Value History (with trend line)
📊 How Does 66956 Compare?
| Metric | 66956 | Mankato | Kansas |
|---|---|---|---|
| Home Value | $105,645 | $105,645 | $237,409 |
| 5-Year CAGR | 6.8% | 6.8% | 7.2% |
| Avg Rent | $1,017 | $1,017 | - |
| Cap Rate | 7.5% | 7.5% | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 66956 (Mankato, KS). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $105,645 |
| Monthly Rent | $1,017 |
| Price-to-Rent | 8.7:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 11.6% |
| Cap Rate | 7.5% |
| 5-Year IRR | 14.3% |
📈 Home Appreciation
| 1-Year | +16.1% ▲ |
| 3-Year CAGR | +6.7% ▲ |
| 5-Year CAGR | +6.8% ▲ |
| 10-Year CAGR | +5.9% ▲ |
🏠 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 (7.5%). 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 66956
Population: 1,190
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 66956
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
How much do tenants pay in Mankato, KS?
Rental rates in Mankato, KS average $1,017/mo. Tenant demand and $106K home values make the yield look reasonable by investor standards.
Is house hacking profitable in Mankato, KS?
House hacking in Mankato, KS is a challenging. With home values around $106K and rents at $1,017/mo, owner-occupants can offset a meaningful share of PITI.
How tight is the rental market in Mankato, KS?
Mankato, KS vacancy trends elevated. Investors running standard buy-and-hold plays see reasonable downtime between tenants.
How much should I expect to pay for a home in Mankato, KS?
Median home price in Mankato, KS is near $106K, with a 5-year CAGR of 0.0%. Prices have been reliable and supportive of buy-and-hold strategies.
Is Mankato, KS a good market for buy-and-hold investors?
The 3.0/5 investability rating in Mankato, KS reflects its $106K prices and $1,017/mo rents. Investors generally consider it a solid option within KS.
You know 66956 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 66956 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.
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