Prairie Village appreciation rates and housing market information

Prairie Village housing market information

With 22,040 people, 10,063 houses or apartments, and a median cost of homes of $220,034, Prairie Village real estate is some of the most expensive in Kansas, although Prairie Village home values aren't among America's most expensive.

single-family detached homes are the single most common housing type in Prairie Village, accounting for 86.33% of the city's housing units. Other types of housing that are prevalent in Prairie Village include large apartment complexes or high rise apartments (8.71%), row houses and other attached homes (2.77%), and a few duplexes, homes converted to apartments, or other small apartment buildings (1.98%).

Owner-occupied, three and four bedroom single-family detached homes are the most prevalent type of housing you will see in Prairie Village. Owner-occupied housing accounts for 82.02% of Prairie Village's homes, and 67.80% have either three or four bedrooms, which is average sized relative to America.

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. Prairie Village's housing was primarily built during this period, from the '40s through the '60s. A full 81.18% of the city's housing hails from this era. Other housing ages represented in Prairie Village include homes built between 1970-1994 (15.33%), and housing constructed from 1995 and later (1.90%). There's also some housing in Prairie Village built between 1939 and earlier (1.59%).

Prairie Village home appreciation rates

Prairie Village's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Prairie Village during the period has been just 6.15%, which is lower than % of US communities.

NeighborhoodScout's data show that during the latest twelve months, Prairie Village home appreciation rates, at 0.39%, have been at or slightly above the national average. In the latest quarter, Prairie Village's appreciation rate has been 1.27%, which annualizes to a rate of 5.08%.

Relative to Kansas, our data show that Prairie Village's latest annual appreciation rate is higher than 6% 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 Prairie Village differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Prairie Village - 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 Prairie Village real estate investment or home purchase decisions.