The subject of today’s snapshot is for Downtown, Kansas City, Missouri. Based on our analysis, Kansa City’s year-over-year average rents decreased across all bedroom types.
Our standard neighborhood analysis uses a 12-month “LookBack” to establish an average baseline rent. The results from the 12-month LookBack analysis are presented in the tables below for Kansas City 1–2-bedroom rents from December 1, 2020 – December 1, 2021:
As the table shows, 1BR units decreased by 2% from last year or $20 less, and the 2BR units saw no change in year-over-year rent change. As demonstrated by the table above, year-over-year performance for 1BR and 2BR units saw no change in rent prices from last year.
Rentometer Quick 4 Key Rental Market Stats
Are you interested in investing in Kansa City? Location is an important factor to consider when finding a profitable market for a rental property. The key characteristics of a good location include a strong economy, a growing labor force, and high rental demand. Below are some quick facts about the Kansas City rental market that can help you with your investment analysis and overall decision.
Quick 4 Key Rental Market Stats: Downtown, Kansas City, Missouri
- Avg 2BR House Price: $292,649 (According to Redfin)
- Avg 2BR Rent: $20,088 ($1,674 x 12 months)
- Price-to-Rent Ratio: 15
Major Companies & Institutions:
- Commerce Bank, Garmin, Hallmark Cards, University of Missouri-Kansas City, Deloitte, IBM, Children’s Mercy Hospital and Clinics, University of Kansas Medical Center
- 0.85% (According to Roofstock)
Rentometer is the #1 tool for comparing residential rent rates anywhere in the U.S. To succeed as a real estate investor, you need solid, current market intelligence to help you set the right rent rates in San Antonio. Understanding local rents (and the factors that drive them) can help reduce investment risk, increase occupancy and improve your cash flow – and income. With Rentometer, you have local, current rents available right at your fingertips.
This article was written by the Rentometer Content Team. The Rentometer Blog features fresh takes and insights on rental housing topics, services, and technology.