Kingman County

Kingman County sits at a median home price of $178,861 with home values appreciating just 1.23% year-over-year, which places it firmly in the slow-appreciation, potentially cash-flow-dependent category of Kansas markets. The affordability index of 92 confirms homes are priced accessibly relative to income, and the county ranks in the 73rd percentile nationally out of 1,000 counties evaluated. That said, the cash flow score registers at zero and cap rate data is not populated in the underlying model, which is a meaningful gap. Without confirmed rent figures, investors cannot validate yield assumptions from the data alone and should treat any cash-flow projections as requiring independent rent verification before committing capital.

The investor profile that fits Kingman most cleanly is not the cash-flow buyer chasing yield, nor the appreciation buyer expecting price compounding, but potentially a stability-oriented buyer willing to hold a low-cost asset in a quiet, affordable market. At $178,861 with a 20% down payment of roughly $35,800, the entry cost is low by most standards. The appreciation score of 62 out of 100 suggests some upside potential, but the 1.23% annual price gain puts real appreciation, after inflation, effectively flat. A value-add operator who can acquire below median, force equity through renovation, and reposition to capture a rent premium may find the affordability index of 92 useful as a signal that working-class renter demand exists, but the data as provided does not quantify what that rent premium would be.

The county's population of 7,369 is the most structurally important number in this data set. At that scale, Kingman is a thin market. Demand for rentals can shift materially with the loss or gain of a single employer, and a vacancy of even a handful of units can distort a small landlord's portfolio performance significantly. No economic anchor data was provided for this county, so specific employers and job base stability cannot be characterized here. Investors should independently research the primary employment base before underwriting, since the stability score of 50 out of 100, exactly at the midpoint, offers no strong signal in either direction.

On carry costs, the combined monthly tax and insurance burden estimates to $297 per month, built from a state-average effective property tax rate of 1.41% and an insurance rate of 0.58%. The property tax flag is "normal," meaning the rate is neither a tailwind nor a notable headwind, though investors should confirm that the 1.41% figure reflects their specific township and county jurisdiction. Per the underlying data, this is a state-average estimate from Tax Foundation 2024 and actual rates may differ at the parcel level. At $297 monthly, this is a real line on the underwrite, particularly when gross rents are unconfirmed. If market rent comes in at, say, the $700-$900 range typical of rural Kansas, the tax and insurance load alone consumes 33-42% of gross revenue before debt service, maintenance, or management, leaving almost no margin for error.

The concentration risk here is straightforward: a county of 7,369 people with flat appreciation and no confirmed rent data is a low-liquidity asset environment. Exit options are limited. If you need to sell in a downturn, buyer pools are thin and days-on-market will extend. Regulatory risk is not characterized in the data, and no demographic trend data was provided, so those dimensions cannot be assessed here.

Against its neighbors, Kingman at $178,861 is priced between the more affordable Cherokee ($122,982) and Marshall ($152,269) counties and the more expensive Butler ($241,761) and Shawnee ($198,892) counties. The two neighbors with rent data tell a useful story. Harvey County, at a median of $185,152 and a rent-to-price ratio of 0.0558, barely outprices Kingman and offers a rent ratio that at least confirms a yield benchmark in adjacent territory. Shawnee County, at $198,892 and a 0.0686 rent-to-price ratio, is notably more efficient on yield and carries a population base and economic infrastructure that a county of 7,369 cannot match. Butler County, the highest-priced neighbor at $241,761 and a 0.0606 rent-to-price ratio, scores 68 overall compared to Kingman's 67, offering marginally better overall metrics at a higher price point. An investor choosing Kingman over these neighbors would be making a deliberate bet on lower acquisition cost and a quiet hold, not on superior yield or liquidity. Shawnee County, if accessible to the investor's capital, presents a more complete case for rental fundamentals based on the data available.