14 Kansas cities ranked by estimated cap rate. The average cap rate across Kansas markets is 3.8%, with median home prices averaging $212K and rents averaging $1,076/mo. Pittsburg leads with a 6.0% cap rate at a $130K median price. Property taxes average 1.38% across Kansas markets.
Kansas offers 14 investable rental markets tracked by CapRateCity. The state average cap rate of 3.8% is above the 3.81% national average, making Kansas an attractive state for cash flow investors. No cities pass the 1% rule at median prices, so value-add strategies are essential.
Prices and rents: Kansas home prices average $212K, which is 36% below the national average of $333K. Rents average $1,076/mo. The most affordable entry point is Great Bend at $120K, while Pittsburg offers the highest cap rate at 6.0%.
Taxes and costs: Property taxes average 1.38% across Kansas, above the 1.08% national average — investors should model tax expense carefully. Manhattan has the lowest rate at 1.34%.Vacancy averages 5.3%, tighter than the national average — favorable for landlords.
Growth outlook: Population growth across Kansas averages 0.69% per year, led by Overland Park at 1.2%. Home values are appreciating at 2.5% annually on average. Moderate growth provides a stable demand foundation.
Bottom line: Kansas is primarily an appreciation market. Cash flow investing requires below-median purchases or value-add strategies. Consider whether the growth and appreciation potential justifies tighter margins.