Great Bend is one of the most affordable markets in the country in the Midwest with a small but investable metro of 50,000. At a 5.49% estimated cap rate, this is a moderate market where rents of $810/mo lag behind home prices. With a median home price of $120,000 and steady population growth supports long-term rental demand, Great Bend offers opportunities for investors who source deals carefully.
Market data powered by Zillow Home Value Index (ZHVI) and Zillow Observed Rent Index (ZORI) · Updated Feb 2026
Great Bend's 0.7% rent-to-price ratio is well below the 1% rule. At median prices of $120,000, the $810/mo rent produces only $549/mo in NOI. Investors here need to target below-median properties or pursue value-add strategies to make the numbers work.
At current rates, a 20% down conventional loan ($24K at 7%) would result in approximately $-89/mo cash flow — negative at median prices. Larger down payments, seller financing, or buying 15–25% below median are strategies to turn the numbers positive.
The 12.3x gross rent multiplier and 5.3% vacancy rate position Great Bend as a value-oriented market. With annual appreciation at 2.5%, total returns (cash flow + equity growth) run approximately 8.0% before financing leverage.
Pre-filled with Great Bend medians. Adjust to match a specific property.
Factor in financing to see your actual return on invested capital in Great Bend.
Great Bend, KS has a population of 50,000 and has been growing at 0.7% annually — roughly in line with national trends, meaning demand is stable but not exceptional. The median home price of $120,000 paired with median rents of $810/mo produces an estimated cap rate of 5.49%.
Property taxes at 1.38% fall within the national average range and shouldn't present unusual challenges. The vacancy rate of 5.3% is moderate and within normal parameters for a healthy rental market.
At a price-to-income ratio of 2.2x, homes cost about 2.2 times the local median income of $55,200. This relatively affordable ratio suggests a deep pool of renters who find buying out of reach, supporting rental demand. Home values have appreciated at roughly 2.5% annually. Steady appreciation means total returns will be primarily cash flow-driven — the more sustainable model for long-term wealth building.
Bottom line: Great Bend presents moderate opportunities. Cap rates near 5.49% mean deals need careful sourcing — look for value-add rehabs or emerging neighborhoods where rents are climbing.