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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With a population of 103,465, 38,193 total housing units (homes and apartments), and a median house value of $370,780, Lee's Summit real estate is some of the most expensive in Missouri, although Lee's Summit home values aren't among America's most expensive.
Single-family detached homes are the single most common housing type in Lee's Summit, accounting for 74.13% of the city's housing units. Other types of housing that are prevalent in Lee's Summit include large apartment complexes or high rise apartments ( 10.97%), row houses and other attached homes ( 9.10%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 5.51%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Lee's Summit. Owner-occupied housing accounts for 75.92% of Lee's Summit's homes, and 67.12% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Lee's Summit 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 Lee's Summit built between 2000 and later ( 31.46%). A lesser amount of the housing stock also hails from between 1940-1969 ( 10.55%). There's also some housing in Lee's Summit built before 1939 ( 3.00%).
Appreciation rates for homes in Lee's Summit have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 105.85%, which ranks in the top 30% nationwide. This equates to an annual average Lee's Summit house appreciation rate of 7.49%.
Appreciation rates are so strong in Lee's Summit that despite a nationwide downturn in the housing market, Lee's Summit real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Lee's Summit appreciation rates continue to be some of the highest in America, at 8.10%, which is higher than appreciation rates in 89.61% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Lee's Summit. Lee's Summit appreciation rates in the latest quarter were at 4.62%, which equates to an annual appreciation rate of 19.79%.
Importantly, this makes Lee's Summit 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 Missouri, our data show that Lee's Summit'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 Lee's Summit differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Lee's Summit - 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 Lee's Summit real estate investment or home purchase decisions.
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