Paola, 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 Q3 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

Paola, KS Housing Market Trends

With 5,768 people, 2,348 houses or apartments, and a median cost of homes of $219,722, Paola real estate and house prices are near the national average for all cities and towns.

Single-family detached homes are the single most common housing type in Paola, accounting for 75.59% of the city's housing units. Other types of housing that are prevalent in Paola include large apartment complexes or high rise apartments ( 11.03%), duplexes, homes converted to apartments or other small apartment buildings ( 9.56%), and a few row houses and other attached homes ( 1.93%).

The most prevalent building size and type in Paola are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 62.07% owning and 37.93% renting.

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. Paola's housing was primarily built during this period, from the '40s through the '60s. A full 34.78% of the city's housing hails from this era. Other housing ages represented in Paola include homes built between 1970-1999 ( 26.66%) and housing constructed before 1939 ( 20.63%). There's also some housing in Paola built between 2000 and later ( 17.92%).

Paola Home Appreciation Rates

Appreciation rates for homes in Paola have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 60.03%, which ranks in the top 40% nationwide. This equates to an annual average Paola house appreciation rate of 4.81%.

Appreciation rates are so strong in Paola that despite a nationwide downturn in the housing market, Paola real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Paola appreciation rates continue to be some of the highest in America, at 14.79%, which is higher than appreciation rates in 70.78% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Paola. Paola appreciation rates in the latest quarter were at 6.27%, which equates to an annual appreciation rate of 27.52%.

Importantly, this makes Paola one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.

Relative to Kansas, our data show that Paola's latest annual appreciation rate is higher than 90% of the other cities and towns in Kansas.

Average Home Values

 

Median Home Value:
$219,722

Paola, KS HOME PRICES

> $1,311,000
0.0%
0.0%
$983,001 - $1,311,000
0.0%
0.0%
$655,001 - $983,000
2.8%
2.8%
$524,001 - $655,000
4.8%
4.8%
$393,001 - $524,000
2.8%
2.8%
$262,001 - $393,000
24.2%
24.2%
$131,001 - $262,000
42.0%
42.0%
$65,001 - $131,000
20.5%
20.5%
$0 - $65,000
2.9%
2.9%
0.0% 100.0%
% OF HOMES
Value Relative To State

Average for Nation

Very High for KS

Value Relative To Nation

Number Of Homes And Apartments:
2,348

Paola Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
KS*
Compared To
America*
Latest Quarter:
2021 Q2 - 2021 Q3
Last 12 Months:
2020 Q3 - 2021 Q3
Last 2 Years:
2019 Q3 - 2021 Q3
Last 5 Years:
2016 Q3 - 2021 Q3
Last 10 Years:
2011 Q3 - 2021 Q3
Since 2000:
2000 Q1 - 2021 Q3
70.79% 2.49%
3
3
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,118 / per month

Homeownership Rate

Owners
62.1%
62.1%
Renters
37.9%
37.9%
Vacant
3.7%
3.7%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
17.9%
17.9%
1970 - 1999
26.7%
26.7%
1940 - 1969
34.8%
34.8%
1939 or Older
20.6%
20.6%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
75.6%
75.6%
Townhomes
1.9%
1.9%
Small Apt. Buildings
9.6%
9.6%
Apt. Complexes
11.0%
11.0%
Mobile Homes
1.9%
1.9%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
2.7%
2.7%
1 Bedroom
12.6%
12.6%
2 Bedrooms
31.3%
31.3%
3 Bedrooms
30.1%
30.1%
4 Bedrooms
21.0%
21.0%
5 or more bedrooms
2.3%
2.3%
0.0% 100.0%
% OF HOMES