Overland Park, KS
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Overland Park, KS Real Estate Data


Overland Park Housing Market Information

With a population of 186,515, 74,058 total housing units (homes and apartments), and a median house value of $308,578, Overland Park real estate is some of the most expensive in Kansas, although Overland Park home values aren't among America's most expensive.

Single-family detached homes are the single most common housing type in Overland Park, accounting for 59.11% of the city's housing units. Other types of housing that are prevalent in Overland Park include large apartment complexes or high rise apartments ( 24.01%), row houses and other attached homes ( 10.51%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 6.22%).

The most prevalent building size and type in Overland Park are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 63.75% owning and 36.25% renting.

There is a lot of housing in Overland Park 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 Overland Park built between 1940-1969 ( 25.21%). A lesser amount of the housing stock also hails from between 2000 and later ( 18.25%). There's also some housing in Overland Park built before 1939 ( 1.84%).

Overland Park Home Appreciation Rates

Appreciation rates for homes in Overland Park have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 16.15%, which ranks in the top 30% nationwide. This equates to an annual average Overland Park house appreciation rate of 1.51%.

Appreciation rates are so strong in Overland Park that despite a nationwide downturn in the housing market, Overland Park real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Overland Park appreciation rates continue to be some of the highest in America, at 7.20%, which is higher than appreciation rates in 86.24% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Overland Park. Overland Park appreciation rates in the latest quarter were at 2.35%, which equates to an annual appreciation rate of 9.76%.

Relative to Kansas, our data show that Overland Park's latest annual appreciation rate is higher than 90% 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 Overland Park differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Overland Park - 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 Overland Park real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$308,578

Overland Park, KS HOME PRICES

Value Range
> $1,216,000 0.9
$912,001 - $1,216,000 1.1
$608,001 - $912,000 4.9
$486,001 - $608,000 6.4
$365,001 - $486,000 14.8
$243,001 - $365,000 31.3
$122,001 - $243,000 35.0
$61,001 - $122,000 3.2
$0 - $61,000 2.4

Very High for KS
Very High for Nation

Value Relative to Nation Value Relative to State
16.0859635767406 3.19148936170213

Number Of Homes And Apartments:
74,058

Rent & Ownership

 

Average Market Rent:
$1,402 / per month

Homeownership Rate

Homeownership
Owners 63.75
Renters 36.25
Vacant 5.15

Housing Market Details

 

Age of Homes

AGE OF Overland Park HOMES
2000 or Newer 18.2
1970 - 1999 54.7
1940 - 1969 25.2
1939 or Older 1.8

Types of Homes

TYPE OF Overland Park HOMES
Single-Family 59.1
Townhomes 10.5
Small Apt. Buildings 6.2
Apt. Complexes 24.0
Mobile Homes 0.1
Other 0.0

Home Size

SIZE OF Overland Park HOMES
No Bedroom 1.27
1 Bedroom 14.09
2 Bedrooms 21.69
3 Bedrooms 24.75
4 Bedrooms 31.19
5 or more bedrooms 7.02

Overland Park Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
KS*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
39.18% 1.96% 4 4
* 10 is highest