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Lee's Summit, 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 Q3 2022. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2020 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Lee's Summit, MO Housing Market Trends

With a population of 102,781, 37,664 total housing units (homes and apartments), and a median house value of $322,645, 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 74.18% 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 ( 11.02%), row houses and other attached homes ( 8.26%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 6.28%).

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 75.95% of Lee's Summit's homes, and 66.22% 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 ( 29.65%). A lesser amount of the housing stock also hails from between 1940-1969 ( 11.24%). There's also some housing in Lee's Summit built before 1939 ( 2.75%).

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 94.39%, which ranks in the top 30% nationwide. This equates to an annual average Lee's Summit house appreciation rate of 6.87%.

NeighborhoodScout's data show that during the latest twelve months, Lee's Summit's appreciation rate, at 14.73%, has been at or slightly above the national average. In the latest quarter, Lee's Summit's appreciation rate has been 5.69%, which annualizes to a rate of 24.76%.

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:
$322,645

Lee's Summit, MO HOME PRICES

> $1,482,000
$1,111,001 - $1,482,000
$741,001 - $1,111,000
$593,001 - $741,000
$445,001 - $593,000
$296,001 - $445,000
$148,001 - $296,000
$74,001 - $148,000
$0 - $74,000
0.5%
0.5%
0.6%
0.6%
2.7%
2.7%
6.9%
6.9%
18.3%
18.3%
31.5%
31.5%
34.6%
34.6%
3.8%
3.8%
1.1%
1.1%
0.0% 100.0%
% OF HOMES
Value Relative To State

High for Nation

Very High for MO

Value Relative To Nation

Number Of Homes And Apartments:
37,664

Lee's Summit Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MO*
Compared To
America*
Latest Quarter:
2022 Q2 - 2022 Q3
Last 12 Months:
2021 Q3 - 2022 Q3
Last 2 Years:
2020 Q3 - 2022 Q3
Last 5 Years:
2017 Q3 - 2022 Q3
Last 10 Years:
2012 Q3 - 2022 Q3
Since 2000:
2000 Q1 - 2022 Q3
110.69% 3.33%
5
5
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,751 / per month

Homeownership Rate

Owners
Renters
Vacant
76.0%
76.0%
24.0%
24.0%
4.6%
4.6%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
29.6%
29.6%
56.4%
56.4%
11.2%
11.2%
2.7%
2.7%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
74.2%
74.2%
8.3%
8.3%
6.3%
6.3%
11.0%
11.0%
0.2%
0.2%
0.1%
0.1%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
2.1%
2.1%
5.6%
5.6%
18.7%
18.7%
36.4%
36.4%
29.8%
29.8%
7.3%
7.3%
0.0% 100.0%
% OF HOMES