Wakefield, KS

  • Overview
  • Performance
  • Listings
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Key Performance Metrics

Market snapshot

Performance indicators for the Wakefield short-term rental market based on reliable data.

Listings

19 / 29

Reliable / Active

Cap Rate

7%

Middle-Earners Gross Yield

Revenue

$16,969

Middle-Earners Revenue

Occupancy

45%

Middle-Earners Occupancy

Home Value

$233,814

Median Home Sale Price

Top Earners

$35,578

Top-Earners Revenue

Wakefield

Market Revenue Seasonality

Top Listings

Highest revenue

The highest-performing listings in Wakefield.

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C

Challenging to Investors

Wakefield Regulations

STRs are legal but heavily constrained: a hard cap of only four citywide and a one‑property‑per‑entity rule with a waiting list (and 30‑day transfer risk) sharply limit supply and investment access. Although the permit/registration path is straightforward and the $100 fee is modest, these caps and enforcement make the market risky for new entrants.

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About Wakefield

Wakefield is a small, quiet city in Clay County, in the northeastern quadrant of Kansas, with a population of roughly 900 to 1,000 residents. The town has a friendly, rural character defined by wide prairie skies, historic homes, and a slow pace of life that contrasts with the busier college town just down the road. It sits along the broad Republican River valley and functions as a convenient gateway to the popular Milford Lake recreation area, one of the largest outdoor playgrounds in the state. The nearest major city is Manhattan, Kansas, home to Kansas State University, located approximately 18 to 20 miles to the south of Wakefield. Wichita, Topeka, and the Kansas City metropolitan area all sit within about two to three hours of driving, placing Wakefield within reach of several regional hubs while still feeling firmly off the beaten path.

Just a few miles west of town, Milford State Park wraps around the shores of Milford Lake, the largest reservoir in Kansas and one of its premier fishing destinations. The lake is known for walleye, white bass, and wiper fishing, and the surrounding park offers miles of shoreline, several campgrounds, swimming beaches, horseback riding trails, and a nature center that draws families and outdoors enthusiasts year-round. A drive from central Wakefield to the main park areas typically takes about 15 to 20 minutes.

A short drive southeast of Wakefield brings visitors to Manhattan and the campus of Kansas State University, where the college-town energy of Aggieville, the historic campus district, and Bill Snyder Family Stadium give the area a lively year-round pulse. Football gamedays in the fall transform the town, while the spring and summer months bring outdoor concerts, the Sunset Zoo, and the Manhattan Farmers Market. The drive from Wakefield to downtown Manhattan usually takes around 25 minutes.

To the north and east of Wakefield, the rolling Flint Hills begin to unfold, offering scenic drives, tallgrass prairie preserves, and small historic towns that feel a step back in time. Outdoor lovers can also reach Tuttle Creek State Park and Corps of Engineers lands within about 30 to 40 minutes, adding hiking, mountain biking, and additional water-based recreation to the mix of nearby activities. Fort Riley, one of the most storied U.S. Army installations in the country, is also within a roughly 30-minute drive and occasionally hosts public events and museums of interest to history-minded travelers.

For short-term rental owners and guests, Wakefield offers an appealing combination of small-town quiet and outdoor adventure. Its proximity to Milford Lake makes it a natural base for anglers, boaters, and families seeking a less crowded alternative to the busier lakeside resort communities, while its short drive to Manhattan keeps restaurants, university events, and entertainment within easy reach. The result is a peaceful prairie setting that feels worlds away from city stress but remains connected to the best of northeastern Kansas.

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