Lenexa, KS Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q2 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Lenexa, KS Housing Market Trends

With a population of 55,625, 21,683 total housing units (homes and apartments), and a median house value of $332,058, 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 56.94% of the city's housing units. Other types of housing that are prevalent in Lenexa include large apartment complexes or high rise apartments ( 28.84%), row houses and other attached homes ( 9.33%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 4.70%).

The most prevalent building size and type in Lenexa are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 60.50% owning and 39.50% renting.

There is a lot of housing in Lenexa built from 1970 to 1999 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 between 2000 and later ( 28.66%). A lesser amount of the housing stock also hails from between 1940-1969 ( 7.05%). There's also some housing in Lenexa built before 1939 ( 1.16%).

Lenexa Home Appreciation Rates

Appreciation rates for homes in Lenexa have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 55.42%, which ranks in the top 40% nationwide. This equates to an annual average Lenexa house appreciation rate of 4.51%.

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 8.28%, 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 2.46%, which equates to an annual appreciation rate of 10.22%.

Relative to Kansas, our data show that Lenexa's latest annual appreciation rate is higher than 60% 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 2000, to assist you in making the best Lenexa real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$332,058

Lenexa, KS HOME PRICES

> $1,260,000
0.5%
0.5%
$945,001 - $1,260,000
1.0%
1.0%
$630,001 - $945,000
5.7%
5.7%
$504,001 - $630,000
8.2%
8.2%
$378,001 - $504,000
17.3%
17.3%
$252,001 - $378,000
40.3%
40.3%
$126,001 - $252,000
23.7%
23.7%
$63,001 - $126,000
1.0%
1.0%
$0 - $63,000
2.4%
2.4%
0.0% 100.0%
% OF HOMES
Value Relative To State

High for Nation

Very High for KS

Value Relative To Nation

Number Of Homes And Apartments:
21,683

Lenexa Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
KS*
Compared To
America*
Latest Quarter:
2021 Q1 - 2021 Q2
Last 12 Months:
2020 Q2 - 2021 Q2
Last 2 Years:
2019 Q2 - 2021 Q2
Last 5 Years:
2016 Q2 - 2021 Q2
Last 10 Years:
2011 Q2 - 2021 Q2
Since 2000:
2000 Q1 - 2021 Q2
75.23% 2.64%
5
5
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,636 / per month

Homeownership Rate

Owners
60.5%
60.5%
Renters
39.5%
39.5%
Vacant
6.1%
6.1%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
28.7%
28.7%
1970 - 1999
63.1%
63.1%
1940 - 1969
7.1%
7.1%
1939 or Older
1.2%
1.2%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
56.9%
56.9%
Townhomes
9.3%
9.3%
Small Apt. Buildings
4.7%
4.7%
Apt. Complexes
28.8%
28.8%
Mobile Homes
0.2%
0.2%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
0.7%
0.7%
1 Bedroom
15.3%
15.3%
2 Bedrooms
19.0%
19.0%
3 Bedrooms
23.6%
23.6%
4 Bedrooms
34.3%
34.3%
5 or more bedrooms
7.2%
7.2%
0.0% 100.0%
% OF HOMES