Overland Park, 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 Q4 2020. 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

Overland Park, KS Housing Market Trends

With 195,494 people, 78,001 houses or apartments, and a median cost of homes of $331,019, 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 58.51% of the city's housing units. Other types of housing that are prevalent in Overland Park include large apartment complexes or high rise apartments ( 24.39%), row houses and other attached homes ( 10.51%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 6.44%).

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 62.97% owning and 37.03% 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 ( 24.04%). A lesser amount of the housing stock also hails from between 2000 and later ( 21.49%). There's also some housing in Overland Park built before 1939 ( 1.85%).

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 51.55%, which ranks in the top 30% nationwide. This equates to an annual average Overland Park house appreciation rate of 4.24%.

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 7.01%, which is higher than appreciation rates in 87.29% 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 2.72%, which equates to an annual appreciation rate of 11.34%.

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:
$331,019

Overland Park, KS HOME PRICES

> $1,227,000
1.3%
1.3%
$920,001 - $1,227,000
1.5%
1.5%
$614,001 - $920,000
7.7%
7.7%
$491,001 - $614,000
9.7%
9.7%
$368,001 - $491,000
22.4%
22.4%
$245,001 - $368,000
29.3%
29.3%
$123,001 - $245,000
24.8%
24.8%
$61,001 - $123,000
1.9%
1.9%
$0 - $61,000
1.4%
1.4%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very High for Nation

Very High for KS

Value Relative To Nation

Number Of Homes And Apartments:
78,001

Overland Park Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
KS*
Compared To
America*
Latest Quarter:
2020 Q3 - 2020 Q4
Last 12 Months:
2019 Q4 - 2020 Q4
Last 2 Years:
2018 Q4 - 2020 Q4
Last 5 Years:
2015 Q4 - 2020 Q4
Last 10 Years:
2010 Q4 - 2020 Q4
Since 2000:
2000 Q1 - 2020 Q4
76.77% 2.75%
6
6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,595 / per month

Homeownership Rate

Owners
63.0%
63.0%
Renters
37.0%
37.0%
Vacant
5.9%
5.9%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
21.5%
21.5%
1970 - 1999
52.6%
52.6%
1940 - 1969
24.0%
24.0%
1939 or Older
1.8%
1.8%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
58.5%
58.5%
Townhomes
10.5%
10.5%
Small Apt. Buildings
6.4%
6.4%
Apt. Complexes
24.4%
24.4%
Mobile Homes
0.1%
0.1%
Other
0.1%
0.1%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
1.1%
1.1%
1 Bedroom
14.5%
14.5%
2 Bedrooms
21.9%
21.9%
3 Bedrooms
23.6%
23.6%
4 Bedrooms
30.7%
30.7%
5 or more bedrooms
8.2%
8.2%
0.0% 100.0%
% OF HOMES