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Wichita vs Lawrence for Rental Property Investing

Side-by-side comparison of Wichita, KS and Lawrence, KS — cap rates, rent, prices, and investment metrics.

Lawrence wins 4–3 across key metrics
Wichita leads on cash flow (4.36% vs 3.44% cap rate) · Lawrence leads on population growth
Metric
Wichita, KS
Lawrence, KS
Est. Cap Rate
4.36%
3.44%
Median Home Price
$185,000
$255,000
Median Monthly Rent
$1,080
$1,250
1% Rule
0.58%
0.49%
GRM
14.3x
17.0x
Price / Income
3.5x
5.2x
Property Tax Rate
1.41%
1.36%
Vacancy Rate
6.2%
4.8%
Population Growth
0.5% / yr
0.8% / yr
Annual Appreciation
2.3%
2.6%
Population
397,532
98,000
Median Income
$52,600
$48,600

Wichita vs Lawrence: Which Is Better for Investors?

Cash flow: Wichita has the edge with an estimated cap rate of 4.36% compared to Lawrence's 3.44%. Neither city passes the 1% rule outright, so deal sourcing and value-add strategies become more important. Median home prices are $185,000 in Wichita vs $255,000 in Lawrence, while rents come in at $1,080/mo and $1,250/mo respectively.

Growth & appreciation: Lawrence is growing faster at 0.8% annually vs Wichita's 0.5%. Lawrence leads on home value appreciation at 2.6% per year.

Costs & risk: Property taxes are 1.41% in Wichita vs 1.36% in Lawrence. Vacancy rates of 6.2% and 4.8% are mixed — Lawrence has the tighter rental market.

Bottom line: Lawrence edges out Wichita on most key metrics. While cap rates are moderate at 3.44%, Lawrence's overall profile is stronger. Use our free calculators to model specific deals in Wichita or Lawrence.

Wichita, KS
4.36% cap rate · $185,000 median · $1,080/mo
Full analysis →
Lawrence, KS
3.44% cap rate · $255,000 median · $1,250/mo
Full analysis →
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