Cherokee County

Cherokee County sits at a median home price of $133,574, which is low enough in absolute terms to make entry accessible, but the investment estimate data shows zeroed-out cash flow, cap rate, and cash-on-cash return figures, meaning the rental income side of the equation isn't available to complete a full underwrite here. What the data does support is a picture of a deeply affordable market, scoring 100 on the affordability index, with modest price appreciation running at 4.01% year-over-year. The appreciation score of 83 out of 100 is the standout number, placing Cherokee at the 98th national percentile overall and 11th out of 105 Kansas counties. That combination, low entry price plus above-average appreciation momentum, is worth paying attention to even without a fully populated cash-flow model.

Because the cap rate and cash-on-cash figures aren't populated, an investor cannot rely on this data set alone to confirm whether Cherokee pencils as a cash-flow market. The cash flow score is listed at zero, which likely reflects a data gap rather than confirmed negative cash flow, but a serious buyer needs to pull local rent comps before drawing conclusions. What the structure of the market does suggest is that at $133,574 median, gross rent multiples could work in your favor if rents in the area have kept pace with regional trends. The appreciation score of 83 makes a stronger case for a buy-and-hold appreciation play than an immediate yield story. If you're a cash-flow buyer, you'll need to verify rents independently. If you're an appreciation buyer willing to hold five-plus years in a sub-$140K market, the entry price alone limits your downside in a way that higher-priced markets cannot.

On carry costs, the combined monthly tax and insurance burden comes to $222, using a state-average effective property tax rate of 1.41% and an insurance rate of 0.58%. The tax rate is flagged as normal, which means it's neither a tailwind nor a meaningful drag relative to Kansas norms, though the note accompanying the data is worth keeping front of mind: this is a state-average estimate from Tax Foundation 2024 data, and actual Cherokee County or township-level rates may differ. At $133,574 in purchase price, the $1,883 annual tax bill and $775 annual insurance premium are modest in dollar terms. The $222 monthly figure is material to any cash-flow underwrite, but not punishing at this price point, and it compares favorably to what you'd carry in a higher-priced neighboring county.

The data does not include economic anchors or employer information for Cherokee County, so no claims about local job drivers or rental demand sources can be made here. The stability score of 50 is the number that warrants the most attention. At the midpoint of that scale, it signals meaningful uncertainty, whether demographic, economic, or both. Cherokee's population of 19,380 is small, and small-county markets carry concentration risk by definition. A single large employer closing, a population decline, or a shift in local economic conditions can move vacancy and rents in ways that larger, more diversified markets absorb more easily. Any investor buying here should underwrite conservatively on vacancy and resist assuming current rent levels are sticky.

Comparing Cherokee to its neighbors, it holds the lowest median home price in the group by a clear margin. Dickinson County sits at $165,302, Linn at $162,321, Sherman at $146,739, Grant at $146,433, and Kearny at $185,891. Cherokee's $133,574 is $13,000 below the next cheapest option and over $52,000 below Kearny. All five neighbors carry overall scores between 76 and 78, essentially identical to Cherokee's 78, which means the differentiation isn't in composite quality but in entry price. You choose Cherokee over a neighbor when your primary thesis is lowest-cost entry into a Kansas market with comparable overall scoring, and when you've done the legwork to confirm local rents support your target yield at that price. If rental demand or employer diversity matters more to you than entry price, the neighbor data here doesn't provide enough detail to make that call, and further due diligence on each county's economic base would be the right next step before committing capital.