In this edition of The TurboTenant report, we explore the best places to buy rental investment property in Kansas. Discover the hidden gems that offer lucrative opportunities for property investors. From small-town charm to college towns and bustling cities, Kansas has it all.
Kansas: More Than Just The Wizard of Oz
Forget what you think you know about Kansas. This Midwestern state has so much to offer. With Nebraska, Missouri, Oklahoma, and Colorado as its neighbors, Kansas boasts a diverse range of attractions. From 28 state parks and mouth-watering BBQ to year-round festivals, professional sports teams, and top universities, Kansas has something for everyone. Moreover, Kansas has a thriving economy driven by tourism and agriculture, particularly wheat and cattle production. With its low cost of living, Kansas has become an attractive destination for both renters and investors alike.
Topeka: The Top City for Rental Investments
Property investors seeking the best rental investments in Kansas should turn their attention to Topeka. As the capital of Kansas, Topeka offers a mix of attractions, neighborhoods, and thriving companies. Notably, Topeka played a significant role in the landmark U.S. Supreme Court case of Brown v. Board of Education of Topeka, which declared racial segregation in public schools as unconstitutional. Additionally, Topeka is known for its vibrant arts district, Washburn University, and professionally designed golf courses. With a median sale price of just $125k and a 3.1% increase in home values, Topeka shouldn't be overlooked. Renters in Topeka enjoy an average rent of $800, and landlords can expect around 38 leads per property with properties spending an average of 20 days on the market. Topeka is a top contender for rental investments.
Topeka - A prime location for rental investment properties.
Population growth: -0.8% Employment growth: 0.1% Increase in home values: 3.1% Median Sale Price: $125k Average Rent: $800 Average Number of Leads per Property: 38 Number of days on the rental market: 20
Olathe: The Cowboy Boot Capital Takes the Lead
Situated just twenty miles southwest of downtown Kansas City and along the historic Oregon and Santa Fe Trails, Olathe is a hidden gem worth considering. Known for its vibrant community events, Olathe offers an abundance of hiking and biking trails, golf courses, wineries, and the Kansas City Automotive Museum. The summers in Olathe are particularly delightful with the quirky and diverse Olathe Farmers’ Market and regular food truck events accompanied by live music in Downtown Olathe. Olathe boasts positive figures in all categories, including a notable 2.7% increase in population growth and a remarkable 9.2% increase in home values. With a more affordable rent compared to Kansas City, sitting at $958, Olathe is an attractive location for renters. Property investors can expect a solid 29 leads per property and a mere nine days on the market in this Cowboy Boot Capital.
Olathe - The #1 town in Kansas for rental investment properties.
Population growth: 2.7% Employment growth: 0.5% Increase in home values: 9.2% Median Sale Price: $350k Average Rent: $958 Average Number of Leads per Property: 29 Number of days on the rental market: 9
Now that you've discovered the perfect investment properties in prime locations, TurboTenant can help take your landlording into the digital world. Streamline the rental process with easy and free online rental applications and thorough tenant screening, allowing you to find the best renters for your properties.
About the TurboTenant Report
The TurboTenant Report analyzes data from active listings across all 50 states, along with third-party real estate data, population growth data, and employment growth data. Our aim is to empower investors, both seasoned and novice, to make wise purchasing decisions when it comes to rental investment properties. For more information or custom data requests, please contact [email protected].
Methodology:
To determine the best cities to invest in each state, we curated data from various reputable sources, including TurboTenant proprietary data. Our selection process involved evaluating four main factors for each city: employment growth, population growth, increase in home values, and rental yield. We supplemented this data with TurboTenant information on average rent prices, the number of rental leads per property, and the average number of days properties stay on the market.
We have also included an honorable mention where applicable. Honorable mentions were determined using Zillow’s Buyer-Seller Index and Zillow Home Value Forecast, as well as AreaVibes’ Livability Score. TurboTenant proprietary data on days on market, the number of leads per property, and average rent price were also used to determine honorable mentions.
DISCLAIMER: TurboTenant, Inc does not provide legal advice. This material has been prepared for informational purposes only. All users are advised to check all applicable local, state, and federal laws and consult legal counsel should questions arise.
Sources:
- TurboTenant Rental Data
- Fastest Growing States Population
- The Best and Worst Cities to Own Investment Property
- Real Estate data provided by Redfin, a national real estate brokerage.
