Wichita, KS
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
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Highest Appreciating Wichita Neighborhoods Since 2000




Wichita, KS Real Estate Data

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 Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Wichita Housing Market Information

With 389,965 people, 150,683 houses or apartments, and a median cost of homes of $106,489, house prices in Wichita are solidly below the national average.

Single-family detached homes are the single most common housing type in Wichita, accounting for 67.73% of the city's housing units. Other types of housing that are prevalent in Wichita include large apartment complexes or high rise apartments ( 16.77%), duplexes, homes converted to apartments or other small apartment buildings ( 8.76%), and a few row houses and other attached homes ( 3.64%).

The most prevalent building size and type in Wichita are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 59.05% owning and 40.95% renting.

There is a lot of housing in Wichita 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 Wichita built between 1940-1969 ( 38.35%). A lesser amount of the housing stock also hails from between 2000 and later ( 12.19%). There's also some housing in Wichita built before 1939 ( 11.02%).

Vacant housing appears to be an issue in Wichita. Fully 10.36% of the housing stock is classified as vacant. Left unchecked, vacant Wichita homes and apartments can be a drag on the real estate market, holding Wichita real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Wichita Home Appreciation Rates

Appreciation rates for homes in Wichita have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 5.09%, which ranks in the top 40% nationwide. This equates to an annual average Wichita house appreciation rate of 0.50%.

Over the last year, Wichita appreciation rates have trailed the rest of the nation. In the last twelve months, Wichita's appreciation rate has been 1.07%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Wichita were at -2.05%, which equates to an annual appreciation rate of -7.96%.

Notably, Wichita's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Kansas, our data show that Wichita's latest annual appreciation rate is lower than 80% 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 Wichita differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Wichita - 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 Wichita real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$106,489

Wichita, KS HOME PRICES

Value Range
> $1,055,000 0.4
$792,001 - $1,055,000 0.4
$528,001 - $792,000 1.0
$422,001 - $528,000 1.2
$316,001 - $422,000 3.3
$211,001 - $316,000 9.1
$106,001 - $211,000 37.0
$53,001 - $106,000 35.2
$0 - $53,000 12.6

Average for KS
Low for Nation

Value Relative to Nation Value Relative to State
73.3827493261456 46.8085106382979

Number Of Homes And Apartments:
150,683

Wichita Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
KS*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
26.54% 1.37% 2 3
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$845 / per month

Homeownership Rate

Homeownership
Owners 59.05
Renters 40.95
Vacant 10.36

Housing Market Details

 

Age of Homes

AGE OF Wichita HOMES
2000 or Newer 12.2
1970 - 1999 38.4
1940 - 1969 38.3
1939 or Older 11.0

Types of Homes

TYPE OF Wichita HOMES
Single-Family 67.7
Townhomes 3.6
Small Apt. Buildings 8.8
Apt. Complexes 16.8
Mobile Homes 3.1
Other 0.0

Home Size

SIZE OF Wichita HOMES
No Bedroom 2.39
1 Bedroom 13.39
2 Bedrooms 29.19
3 Bedrooms 34.08
4 Bedrooms 14.94
5 or more bedrooms 6.01