Kansas City MO Real Estate - Kansas City MO Homes For Sale | Zillow (2024)

FAQs

Are home prices dropping in Kansas City? ›

Kansas City Housing Market Trends

In June 2024, Kansas City home prices were up 3.8% compared to last year, selling for a median price of $301K. On average, homes in Kansas City sell after 25 days on the market compared to 16 days last year. There were 676 homes sold in June this year, down from 798 last year.

Sale-to-list price ratio: 103.05% Homes in Kansas City, MO sold for 3.05% above asking price on average in June 2024. Kansas City, MO is a buyer's market in June 2024, which means that the supply of homes is greater than the demand for homes.

Housing (Buy and Rent)

The average monthly rent in Kansas City is $1,256, while home prices circle around $440,210. Thinking of moving? New apartments in Kansas City, MO are waiting for you. Start your search here!

It's also an excellent area for real estate investment, thanks to several compelling factors. This article explores why Kansas City is an attractive destination for real estate investors, focusing on its robust housing market, affordable cost of living, thriving economy, and growing population with high rental demand.

Here's why. The typical buyer in Kansas City has the buying power to afford to spend almost 10% more than the median home selling price in the metro.

The current metro area population of Kansas City in 2024 is 1,739,000, a 0.81% increase from 2023. The metro area population of Kansas City in 2023 was 1,725,000, a 0.82% increase from 2022. The metro area population of Kansas City in 2022 was 1,711,000, a 0.77% increase from 2021.

The median home price in Missouri is $271,400 in May 2024. This marks a 6.1% increase year-over-year. This median home price is the highest rates have reached since mid-2021, though some areas have a lower sale price—for example, St. Louis has a median sold price of $212,000 according to Realtor.com.

Housing costs in Kansas

As of March 2023, the average home value in Kansas is estimated to be around $210,742, according to the Zillow Home Value Index as of March 2023. The monthly rental price ranges across the state for those considering renting in Kansas.

Summary: The median home list price in Kansas City was $280,089 in July 2024, up 3.8% from the previous year, and the median price per square foot was $163.

Posted March 18, 2024

A study from SmartAsset shows the required salary to live comfortably in Kansas City is around $90,000 for a single adult. For a single adult in Kansas City, Missouri, the required salary to live comfortably is $90,272, or $43.40 an hour.

What is the expensive area of Kansas City? ›

Eastern. With a median home price of $616,001 and a median rent of $1,116, Eastern is the most expensive neighborhood on our list. Based on the growth in home prices in Eastern over the last 3 years, it ranks No. 1 among all the neighborhoods in Kansas City.

In Missouri, the overall cost of living is 85.9% of the national average, while in Kansas, it is 83.1% of the average. The cost of groceries in both states is almost the same and comes close to the national average, so even though you will make savings elsewhere, don't expect your groceries to be extremely cheap.

Volker. One of the most popular KCMO neighborhoods offers close proximity to some of the city's hottest dining and nightlife is Volker. Within this Midtown neighborhood, you'll find homes with lots of character—like historical bungalows and Kansas City shirtwaist-style houses.

Retirement in KC

The Kansas City metro area is full of benefits for the retiree looking for any type of lifestyle from rural to urban. Whether in Kansas or Missouri, the KC region is the 11th most affordable in the country for comfortable retirement.

The months from March to June are the best time to buy a house in Missouri. This is due to the higher inventory, increased competition among sellers, and potentially lower asking prices.

Kansas City, MO-KS House Price Index is at a current level of 419.76, up from 412.58 last quarter and up from 383.46 one year ago. This is a change of 1.74% from last quarter and 9.47% from one year ago.

Kansas City Home Appreciation Rates

NeighborhoodScout's data show that during the latest twelve months, Kansas City's appreciation rate, at 9.55%, has been at or slightly above the national average. In the latest quarter, Kansas City's appreciation rate has been 0.86%, which annualizes to a rate of 3.50%.

Across Kansas, there is a shortage of rental homes affordable and available to extremely low income households (ELI), whose incomes are at or below the poverty guideline or 30% of their area median income (AMI).