Kansas City, MO 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

Kansas City, MO Housing Market Trends

With 495,327 people, 203,356 houses or apartments, and a median cost of homes of $191,623, Kansas City 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 Kansas City, accounting for 62.29% of the city's housing units. Other types of housing that are prevalent in Kansas City include large apartment complexes or high rise apartments ( 25.12%), duplexes, homes converted to apartments or other small apartment buildings ( 7.04%), and a few row houses and other attached homes ( 4.66%).

The most prevalent building size and type in Kansas City are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 52.26% owning and 47.74% 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. Kansas City's housing was primarily built during this period, from the '40s through the '60s. A full 33.34% of the city's housing hails from this era. Other housing ages represented in Kansas City include homes built between 1970-1999 ( 30.00%) and housing constructed before 1939 ( 22.14%). There's also some housing in Kansas City built between 2000 and later ( 14.51%).

Vacant housing appears to be an issue in Kansas City. Fully 12.55% of the housing stock is classified as vacant. Left unchecked, vacant Kansas City homes and apartments can be a drag on the real estate market, holding Kansas City 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.

Kansas City Home Appreciation Rates

Appreciation rates for homes in Kansas City have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 64.97%, which ranks in the top 30% nationwide. This equates to an annual average Kansas City house appreciation rate of 5.13%.

NeighborhoodScout's data show that during the latest twelve months, Kansas City's appreciation rate, at 10.23%, has been at or slightly above the national average. In the latest quarter, Kansas City's appreciation rate has been 2.51%, which annualizes to a rate of 10.41%.

Relative to Missouri, our data show that Kansas City's latest annual appreciation rate is higher than 80% of the other cities and towns in Missouri.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Kansas City differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Kansas City - 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 Kansas City real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$191,623

Kansas City, MO HOME PRICES

> $1,307,000
0.6%
0.6%
$981,001 - $1,307,000
0.9%
0.9%
$653,001 - $981,000
2.2%
2.2%
$523,001 - $653,000
2.2%
2.2%
$392,001 - $523,000
6.5%
6.5%
$261,001 - $392,000
15.8%
15.8%
$131,001 - $261,000
36.7%
36.7%
$65,001 - $131,000
20.6%
20.6%
$0 - $65,000
14.7%
14.7%
0.0% 100.0%
% OF HOMES
Value Relative To State

Average for Nation

High for MO

Value Relative To Nation

Number Of Homes And Apartments:
203,356

Kansas City Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MO*
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
83.10% 2.85%
8
6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,423 / per month

Homeownership Rate

Owners
52.3%
52.3%
Renters
47.7%
47.7%
Vacant
12.5%
12.5%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
14.5%
14.5%
1970 - 1999
30.0%
30.0%
1940 - 1969
33.3%
33.3%
1939 or Older
22.1%
22.1%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
62.3%
62.3%
Townhomes
4.7%
4.7%
Small Apt. Buildings
7.0%
7.0%
Apt. Complexes
25.1%
25.1%
Mobile Homes
0.8%
0.8%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
2.5%
2.5%
1 Bedroom
14.9%
14.9%
2 Bedrooms
28.3%
28.3%
3 Bedrooms
36.7%
36.7%
4 Bedrooms
14.1%
14.1%
5 or more bedrooms
3.5%
3.5%
0.0% 100.0%
% OF HOMES