Real Estate Investing in Wichita, Kansas (67232)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 67232 (Wichita, KS)? Our answer, based on the numbers below.
Multiple negative signals. Better options likely exist nearby.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- High vacancy: 24.7% of homes vacant — above national norms.
- Higher unemployment: 8.5% unemployment — tenant risk signal.
- High price-to-rent: Price-to-rent ratio 31.9 — hard to cash-flow at these prices.
- Lower household income: $2,499 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 Wichita, KS (67232)?
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Market Analysis: 67232 Wichita
The 67232 ZIP in Wichita, KS is a local-operator market. Outside capital chasing a $458K entry has to pair deep knowledge with the discount.
Rent of $1,197/mo on a $458K basis reads well until vacancy, delinquency, and capex enter the model. The honest cap rate in 67232 sits below the stated 0.0% once reality is priced in.
In the broader KS picture, 67232 is a reminder that not every low-priced ZIP is a value-add opportunity — some are simply distressed, and the difference matters.
The demographic picture in 67232 includes headwinds that any investor should price in. Income distribution skews lower than Wichita averages, and tenant stability requires active management.
looks to the ZIP is not uninvestable, but it is unforgiving. Section 8 landlords, local operators, and specialized value-add funds are the investor types that tend to succeed.
Here's what matters if you're considering buying a home in Wichita:
Market Trends
Home Value History (with trend line)
📊 How Does 67232 Compare?
| Metric | 67232 | Wichita | Kansas |
|---|---|---|---|
| Home Value | $457,735 | $225,800 | $237,409 |
| 5-Year CAGR | 5.8% | 6.0% | 7.2% |
| Avg Rent | $1,197 | $1,302 | - |
| Cap Rate | 2.0% | 4.3% | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 67232 (Wichita, KS). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $457,735 |
| Monthly Rent | $1,197 |
| Price-to-Rent | 31.9:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 3.1% |
| Cap Rate | 2.0% |
| 5-Year IRR | 7.9% |
📈 Home Appreciation
| 1-Year | +6.6% ▲ |
| 3-Year CAGR | +4.0% ▲ |
| 5-Year CAGR | +5.8% ▲ |
| 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 (2.0%). 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 67232
Population: 445
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
🎓 Nearby Colleges & Universities
Investor Insight: With 4,852 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
How quickly do rentals get leased in Wichita, KS?
Wichita, KS sees elevated vacancy, which is reasonable relative to the broader KS rental market.
What is the smart move for investors in Wichita, KS?
Investors usually favor careful cash-flow rentals with hands-on management in Wichita, KS. With home values at $458K and rents near $1,197/mo, other strategies can work but produce reliable rather than outsized returns.
What does house hacking look like in Wichita, KS?
House hacking works a challenging in Wichita, KS. Rents of $1,197/mo against $458K acquisition make the strategy solid for owner-occupants.
What is the median home value in Wichita, KS?
Wichita, KS median home values land near $458K. That is reasonable territory for investors looking at $1,197/mo-per-month rentals.
Does Wichita, KS make sense for an investment property?
Yes - Wichita, KS a 3.0/5 investability score. With $458K home prices against $1,197/mo monthly rent, the market delivers a reasonable entry point for new investors.
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