Jefferson County

Jefferson County, Kansas sits at a median home price of $296,575 with 8.5% year-over-year appreciation, which places it squarely in the appreciation-dominant category rather than a cash-flow play. The data does not include a median rent figure or a populated cap rate, which itself signals something: this is a thinly traded, low-density rural market of 18,387 people where rental comps are sparse and gross yield data is hard to nail down with precision. The affordability index of 66 tells you prices are still accessible relative to income, but that 8.5% price growth is running ahead of typical rural Kansas fundamentals, suggesting either migration pressure from a nearby metro or a compressed supply of sellable inventory, both of which compress yields. With a cash-flow score of 0 and an appreciation score of 84, the scorecard is unambiguous: anyone buying here for monthly income is fighting the math.

This market suits one profile clearly: the appreciation-oriented buyer who wants exposure to a Kansas county outperforming the state median on price growth, with a relatively low entry point compared to metro markets, and who does not need the property to carry itself from day one. It does not suit a cash-flow operator looking for immediate yield, and the absence of usable rent-to-price data makes underwriting a value-add flip or BRRRR strategy genuinely difficult without ground-level rental comp work. The stability score of 50 is a yellow flag for anyone who needs the asset to hold value through a rate cycle or a softening in demand, particularly in a county small enough that a handful of vacancies can move market averages.

Economic anchors and a specific economy note are not provided in the data, so the employment base and demand drivers behind the 8.5% price appreciation cannot be explained here with specificity. What the population figure of 18,387 does confirm is that this is not a county with a deep labor market or a diversified tenant pool. Rental demand is likely driven by a narrow slice of the population, which concentrates risk around any single employer or commuter corridor that is not visible in the provided data.

On carry costs, the combined monthly tax and insurance figure is $492, based on a 1.41% state-average property tax rate and a 0.58% insurance rate, for a total annual burden of $5,902 on a $296,575 purchase. The 1.41% rate carries a "normal" flag, so it is not an outsized headwind, but at $348 per month in property tax alone it is a real line on any underwrite. The honest caveat here is that 1.41% is a state-average estimate from Tax Foundation 2024 data, and Jefferson County's township-level rate may be higher or lower. Before closing, verify the actual assessed value methodology and mill levy for the specific parcel, because rural Kansas counties sometimes carry mill levies that diverge materially from the state average.

The primary risk concentration is demographic and scale-related. A county of under 19,000 people has a rental market that can move on relatively small changes in household formation, employment, or out-migration. The stability score of 50 reflects this. An 8.5% single-year price gain in a market this size can reverse without a broad macro catalyst, simply because buyer pools are thin. There is no regulatory risk data in the dataset, but rural Kansas counties are generally landlord-friendly jurisdictions. The real risk is liquidity: getting into a $296,575 asset in a county where days-on-market and buyer depth are constrained means your exit options narrow if the appreciation thesis does not hold.

Against its neighbors, Jefferson County carries the highest median home price in the comparison set at $296,575, which is notable given that Shawnee County, a county anchored by the state capital, prices at $198,892 with a rent-to-price ratio of 0.0686. Shawnee County's ratio implies a monthly rent of roughly $1,137 against a purchase price nearly $100,000 lower than Jefferson, which is a materially better starting yield. Butler County at $241,761 and a rent-to-price ratio of 0.0606 also offers more measurable rental income data and a lower entry point. Cherokee County and Marshall County come in under $155,000 but lack rent data in this dataset. An investor who needs cash flow or wants a verifiable yield on day one should look at Shawnee County first, where the numbers actually close. Jefferson County makes sense over its neighbors only if the buyer has a specific thesis on continued price appreciation in this corridor and is comfortable holding an asset whose rental economics are not fully legible from available data.