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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Topeka, KS Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q4 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Topeka, KS Housing Market Trends

With 125,449 people, 54,278 houses or apartments, and a median cost of homes of $177,284, house prices in Topeka are solidly below the national average.

Single-family detached homes are the single most common housing type in Topeka, accounting for 65.54% of the city's housing units. Other types of housing that are prevalent in Topeka include large apartment complexes or high rise apartments ( 18.21%), duplexes, homes converted to apartments or other small apartment buildings ( 7.28%), and a few row houses and other attached homes ( 5.63%).

The most prevalent building size and type in Topeka are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 56.66% owning and 43.34% renting.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Topeka's housing was primarily built during this period, from the '40s through the '60s. A full 36.98% of the city's housing hails from this era. Other housing ages represented in Topeka include homes built between 1970-1999 ( 35.83%) and housing constructed before 1939 ( 17.40%). There's also some housing in Topeka built between 2000 and later ( 9.79%).

Topeka Home Appreciation Rates

Real estate appreciation rates in Topeka's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 5.44% during the period.

Appreciation rates are so strong in Topeka that despite a nationwide downturn in the housing market, Topeka real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Topeka appreciation rates continue to be some of the highest in America, at 9.60%, which is higher than appreciation rates in 94.17% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Topeka. Topeka appreciation rates in the latest quarter were at 3.06%, which equates to an annual appreciation rate of 12.80%.

Importantly, NeighborhoodScout’s exclusive research found that Topeka's housing market shows one of the <a href="/blog/highest-appreciating-cities">top real estate appreciation rates in the U.S.A.</a> in the latest quarter, which may signal the city’s near-future real estate investment strength.

Relative to Kansas, our data show that Topeka's latest annual appreciation rate is higher than 90% of the other cities and towns in Kansas.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Topeka differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Topeka - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Topeka real estate investment or home purchase decisions.

Average Home Values

Median Home Value

$177,284

Topeka, KS Home Prices
> $1,345,000
$1,009,001 - $1,345,000
$672,001 - $1,009,000
$538,001 - $672,000
$404,001 - $538,000
$269,001 - $404,000
$135,001 - $269,000
$67,001 - $135,000
$0 - $67,000
0.2%
0.2%
0.2%
0.2%
1.0%
1.0%
1.7%
1.7%
3.8%
3.8%
13.9%
13.9%
36.3%
36.3%
29.0%
29.0%
13.9%
13.9%
0% 100.0%
% of Homes
Average

for Kansas

Low

for nation

Number of Homes And Apartments:

54,278

Topeka Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,287 / per month

Homeownership Rate

Owners
Renters
56.7%
56.7%
43.3%
43.3%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
9.5%
9.5%
90.5%
90.5%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
9.8%
9.8%
35.8%
35.8%
37.0%
37.0%
17.4%
17.4%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
65.5%
65.5%
5.6%
5.6%
7.3%
7.3%
18.2%
18.2%
3.3%
3.3%
0.1%
0.1%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
7.9%
7.9%
9.6%
9.6%
30.6%
30.6%
37.0%
37.0%
12.1%
12.1%
2.7%
2.7%
0% 100.0%
% of Homes