Updated 2026 · Based on median market data for Great Bend, KS
Great Bend sits in the Midwest with a population of 50,000 growing at 0.7% annually. The median home costs $120,000 while rents average $810/mo, producing an estimated cap rate of 5.49%. This is a moderate market that rewards careful deal sourcing.
Great Bend works best for experienced investors with a clear strategy — Section 8, student housing, or deep value-add rehabs. The 5.49% cap rate at median prices is tight, so success depends on buying below market, forcing appreciation through renovation, or accessing above-market rent streams through niche tenant bases.
Target properties priced 15-25% below the $120,000 median — around $96,000 or less. At this price point with $810/mo rents, your cap rate improves to roughly 7.4%. Factor in 1.38% property taxes ($1,656/yr), budget 5% of gross rent for maintenance, and underwrite to a 5.3% vacancy rate. On a 20% down conventional loan at 7%, monthly PITI will run approximately $876.
Every deal should be evaluated individually using our calculator tools. Median data provides a starting point; actual returns depend on the specific property, financing, and your management approach.
Run the numbers on a specific Great Bend property using our cap rate calculator (pre-filled with Great Bend data). Compare Great Bend against similar markets in the Midwest region. If you're considering a value-add approach, try our BRRRR calculator to model a rehab scenario.
Great Bend vs Kansas state average and national average across key investment metrics. Great Bend outperforms both benchmarks on cap rate.