Lee's Summit, MO
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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Lee's Summit, MO 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 2019. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2017 (latest available). Updated annually.

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

Lee's Summit Housing Market Information

With 97,290 people, 35,286 houses or apartments, and a median cost of homes of $279,121, 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 74.69% of the city's housing units. Other types of housing that are prevalent in Lee's Summit include row houses and other attached homes ( 9.94%), large apartment complexes or high rise apartments ( 9.64%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 5.60%).

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 76.87% of Lee's Summit's homes, and 68.62% 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 ( 26.34%). A lesser amount of the housing stock also hails from between 1940-1969 ( 11.64%). There's also some housing in Lee's Summit built before 1939 ( 1.45%).

Lee's Summit Home Appreciation Rates

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 28.09%, which ranks in the top 30% nationwide. This equates to an annual average Lee's Summit house appreciation rate of 2.51%.

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 8.41%, which is higher than appreciation rates in 84.46% 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 1.69%, which equates to an annual appreciation rate of 6.92%.

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 60% 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.

Average Home Values

 

Median Home Value:
$279,121

Lee's Summit, MO HOME PRICES

Value Range
> $1,256,000 0.3
$942,001 - $1,256,000 0.2
$628,001 - $942,000 2.4
$502,001 - $628,000 4.1
$377,001 - $502,000 14.8
$251,001 - $377,000 28.2
$126,001 - $251,000 42.5
$63,001 - $126,000 5.1
$0 - $63,000 2.2

Very High for MO
High for Nation

Value Relative to Nation Value Relative to State
21.8978102189781 6.6

Number Of Homes And Apartments:
35,286

Lee's Summit Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MO*
Compared To
America*
Latest Quarter:
2018 Q4 - 2019 Q1
Last 12 Months:
2018 Q1 - 2019 Q1
Last 2 Years:
2017 Q1 - 2019 Q1
Last 5 Years:
2014 Q1 - 2019 Q1
Last 10 Years:
2009 Q1 - 2019 Q1
Since 2000:
2000 Q1 - 2019 Q1
51.93% 2.20%
6
5
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,452 / per month

Homeownership Rate

Homeownership
Owners 76.87
Renters 23.13
Vacant 5.62

Housing Market Details

 

Age of Homes

AGE OF Lee's Summit HOMES
2000 or Newer 26.3
1970 - 1999 60.6
1940 - 1969 11.6
1939 or Older 1.5

Types of Homes

TYPE OF Lee's Summit HOMES
Single-Family 74.7
Townhomes 9.9
Small Apt. Buildings 5.6
Apt. Complexes 9.6
Mobile Homes 0.1
Other 0.0

Home Size

SIZE OF Lee's Summit HOMES
No Bedroom 1.26
1 Bedroom 5.67
2 Bedrooms 17.77
3 Bedrooms 38.29
4 Bedrooms 30.33
5 or more bedrooms 6.68