The story of this market
The typical home in ZIP 66506 sells for about $325,000, or $168 per square foot.
Prices are up +3.2% from a year ago, so sellers still have some momentum. Homes take about 24 days to sell, which is fast. HUD's fair market rent for a two-bedroom is $1,350 a month.
ZIP 66506 — Manhattan
The 66506 housing market remains resilient, driven by consistent demand from the university-affiliated population and limited inventory. Prices have seen steady year-over-year growth, and the market maintains a healthy balance between buyers and sellers. Current data reflects a stable environment with low days on market for well-priced properties.
This ZIP is ideal for university-affiliated professionals, families seeking stable school districts, and students looking for proximity to campus.
Median prices moved up 3.2% year over year.
Homes spend a median of 24 days on market with 2.1 months of supply — a fast-moving market.
15% of listings have cut prices · homes sell at 98.5% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 5.6% · poverty 100.0% — a mixed stability profile.
Researched annual trajectory for this ZIP, from published historical series
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 6.5%/yr trend — a deterministic estimate, not a published forecast or guarantee.
Median annual property tax paid on this ZIP's residential parcels
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 6.8%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
net influx — more people moved in than out
ZCTA 66506, Riley County KS
Crime rates in this area are generally lower than the national average, with property crime being the most frequently reported incident type.
The area is served by highly-rated public schools within the Manhattan-Ogden school district, known for strong academic performance and extracurricular programs.
The region faces moderate risks from severe thunderstorms and occasional flooding near low-lying areas, with standard insurance coverage typically sufficient.
Economic momentum is driven by the proximity to Kansas State University and associated research and educational sectors, providing a stable employment base.
Composed from the ARED governance burden registry — tier-native tax structure (state + county + city + special districts), never averaged. State (Kansas) — Kansas Residential Property Tax: Annual tax bill calculated as: (Appraised Fair Market Value * 11.5% Assessment Rate) * (Mill Levy / 1,000). The mill levy is the combined tax rate set by local taxing jurisdictions.
Residents primarily commute by car, with most reaching the Manhattan employment core within 10-15 minutes via local arterial roads.
The area features extensive access to city parks, walking trails, and proximity to Tuttle Creek Lake for water-based recreation and fishing.
The rental market is characterized by high demand from university students and faculty, leading to low vacancy rates and consistent rent growth.
The economy is heavily anchored by Kansas State University, the public school system, and regional healthcare providers.
Transportation is primarily automobile-dependent, with limited public bus transit serving the university and downtown areas.
Development is focused on mixed-use projects near the university campus and residential expansion on the city's periphery.
The Riley County Appraiser's Office conducts annual market-based assessments to determine property values for taxation.
Parcels are subject to Manhattan-Ogden USD 383 school district taxes and various municipal utility service districts.
Property insurance premiums are stable, though coverage for wind and hail damage is a standard consideration for homeowners.
Data retrieved from data.census.gov ZCTA-level tables.
Public schools whose reported address is in this area (NCES). Not attendance boundaries — schools that serve residents may sit outside it. Check the district's address locator for assignment.
Major anchor institution providing cultural and sports events.
Central urban park with playgrounds, picnic areas, and a swimming pool.
Championship-level public golf course located nearby.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.