About the Kansas City Housing Market
The growth of Kansas City is expected to continue in the coming years. The city is well-positioned to attract new businesses and residents, and its strong economy and affordable cost of living will continue to be attractive to people who are looking for a place to live.
Kansas City has a vibrant culture, with a variety of museums, art galleries, and theaters. The city is also home to a number of professional sports teams, including the Kansas City Chiefs (NFL), the Kansas City Royals (MLB), and the Kansas City Mavericks (ECHL).
Kansas City has a strong economy, with a low unemployment rate and a growing number of businesses. This makes the city attractive to young professionals and families who are looking for a place to live and work. Kansas City has a relatively low cost of living, which makes it an attractive option for people who are looking to save money.
Median Household Income: $60,042
Metro Population: 509,297
11-Year Population Growth: 11.1%
Median Home Price: $3267,615
Median Rent Per Month: $1,169
1-Year Equity Growth: 4.8%
8-Year Equity Growth: 87%
1-Year Rent Growth: 6%
8-Year Rent Growth (January 2014 – December 2022): 20%
Job Growth: +55,600 CES jobs created over the last year
1-Year Job Growth Rate: 3.1%
Unemployment Rate: 3.6%
Tenant Laws: Landlord-Friendly
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What to Like
Low cost of living
Strong economy
Short commute times
friendly people
Plenty of activities
What to Watch Out For
Extreme weather / Tornadoes
Higher crime in some areas
Lack of public transport
Higher income taxes
– The downtown area has undergone a major revitalization in recent years, with new restaurants, bars, and businesses opening up. The city’s suburbs are also growing rapidly, with new housing developments and commercial centers being built.
– The traffic in Kansas City is relatively light, compared to other major cities. This means that you can get to work or school quickly and easily.
– Kansas City has a lot to offer residents, in terms of entertainment, culture, and outdoor activities. There are museums, theaters, parks, and sporting events to enjoy. Kansas City is known for its friendly people. You’ll find that people are generally welcoming and helpful. The arts and culture scene in Kansas City is thriving, with new museums, theaters, and art galleries opening up all the time.
– Kansas City is known for its barbecue, but there are also many other great restaurants in the city. Kansas City also has a strong arts and culture scene, with museums, theaters, and other cultural institutions. The city has many beautiful parks and outdoor spaces, perfect for enjoying the outdoors.
Steady population increase
There are a few factors that are driving up the rental market in Kansas City. One factor is the strong population growth in the city. The population of Kansas City has been growing steadily in recent years, and this is putting pressure on the rental market. Another factor is the robust economy in Kansas City. The city has a low unemployment rate and a strong job market, which is attracting new residents and businesses.
Strong job growth
Kansas City has a strong economy, with a variety of industries, including manufacturing, healthcare, and technology. The unemployment rate is low, and there are many job opportunities available. The demand for homes in Kansas City is very strong. This is due to a number of factors, including the city’s strong economy, its central location, and its attractive neighborhoods.
Steady rental appreciation
The rental market in Kansas City, Missouri is currently on the rise. The average rent for a 1-bedroom apartment in Kansas City is $1,129, which is a 6% increase compared to the previous year. The average rent for a 2-bedroom apartment is $1,392, which is a 7% increase.
Purchasing Property in Kansas City
The most expensive neighborhoods to rent in Kansas City include Crossroads, River Market, and The Downtown Loop. Rents in these neighborhoods range between $2,775 and $4,205 per month. The cheapest neighborhoods to rent in Kansas City include Washington Weatley, Palestine East, and South Town Fork Creek. Rents in these neighborhoods all average $650 per month.
If you are looking for a more luxurious rental, there are also some great neighborhoods in Kansas City that offer high-end apartments. Some of the most popular neighborhoods for luxury renters include: Crossroads, River Market, The Downtown Loop, Westport, and Midtown
If you are looking to rent in Kansas City, you should expect to pay more than you would have a few years ago. However, there are still some affordable neighborhoods in the city. Some of the most affordable neighborhoods for renters include: Washington Weatley, Palestine East, South Town Fork Creek, North Oak Park, and East Bottoms.
Kansas CIty, Missouri
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