Lenexa appreciation rates and housing market information

Lenexa housing market information

With 40,097 people, 16,348 houses or apartments, and a median cost of homes of $244,471, Lenexa real estate is some of the most expensive in Kansas, although Lenexa home values aren't among America's most expensive.

single-family detached homes are the single most common housing type in Lenexa, accounting for 58.14% of the city's housing units. Other types of housing that are prevalent in Lenexa include large apartment complexes or high rise apartments (26.57%), row houses and other attached homes (8.10%), and a few duplexes, homes converted to apartments, or other small apartment buildings (7.15%).

The most prevalent building size and type in Lenexa are three and four bedroom single-family detached homes. The city has a mixture of owners and renters, with 59.71% owning, and 35.17% renting.

There is a lot of housing in Lenexa built from 1970-1994, so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Lenexa built from 1995 and later (12.48%). A lesser amount of the housing stock also hails from 1940-1969 (11.21%), and some were built from 1939 and earlier (11.21%).

Lenexa home appreciation rates

Lenexa's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Lenexa during the period has been just 4.87%, which is lower than % of US communities.

Over the last year, Lenexa appreciation rates have trailed the rest of the nation. In the last twelve months, Lenexa's appreciation rate has been -0.89%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Lenexa were at 0.95%, which equates to an annual appreciation rate of 3.80%.

Relative to Kansas, our data show that Lenexa's latest annual appreciation rate is higher than 3% 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 Lenexa differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Lenexa - 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 1990, to assist you in making the best Lenexa real estate investment or home purchase decisions.