Kansas City, MO [Average Rent Price History]
Kansas City’s rental market has seen notable shifts in recent years, reflecting broader economic and housing trends. This analysis offers a comprehensive look at how average rent prices have evolved over the past year, providing you with a clear perspective on the market’s trajectory.
By understanding these patterns, you can make more informed decisions as you navigate your apartment search in one of the nation’s most dynamic cities.
Note: All of the rental data included here comes from our internal database of rent estimates. We offer rental estimates at the city, state, and national level available for download.
Average Rent Prices in Kansas City, MO [2024]
The average rent in Kansas City, Missouri is $1,156 per month, which is 26% lower than the national average. The average rent for different types of apartments in Kansas City is:
- Studio: $1,038 per month
- One-bedroom: $1,249 per month
- Two-bedroom: $1,746 per month
- Three-bedroom: $3,480 per month
As of October 2024, Kansas City’s rental prices continue to rise, with studio apartments up 9.03% year-over-year and one-bedrooms increasing 5.93%. Two-bed, two-bath units saw a 7.77% jump, while larger three-bed, three-bath apartments rose 4.06%, reflecting varied demand for different apartment sizes.
Monthly trends indicate strong demand, especially for smaller units, which are renting out faster. Studios, for example, saw their average days on market drop to 96 in October, a 17% decrease from last year. Renters looking to lock in a good rate might benefit from acting soon, as prices may keep climbing.
| Unit Rented Month | Bedrooms | Bathrooms | Time on Market | Last Price Seen | Units |
|---|---|---|---|---|---|
| 2024-10-01 | 3 | 1.5 | 47 days | $1299 | 1 |
| 2024-10-01 | 1 | 1 | 147 days | $765 | 3 |
| 2024-10-01 | 2 | 1 | 32 days | $874 | 12 |
| 2024-09-01 | 3 | 1.5 | 21 days | $1299 | 3 |
| 2024-09-01 | 1 | 1 | 61 days | $765 | 2 |
| 2024-09-01 | 2 | 1 | 36 days | $865 | 9 |
| 2024-08-01 | 1 | 1 | 45 days | $765 | 2 |
| 2024-08-01 | 2 | 1 | 15 days | $859 | 10 |
| 2024-07-01 | 3 | 1.5 | 19 days | $1299 | 1 |
| 2024-07-01 | 1 | 1 | 93 days | $765 | 1 |
When Is the Best Time to Rent an Apartment in Kansas City?
Historically, rents in Kansas City have been lowest in September, with studio prices dropping by 10.42% compared to other months. Availability tends to peak in August, as average days on market rose significantly, especially for three-bedroom units, offering renters more options. Choosing the best time to rent depends on whether you prefer the wider selection available in late summer or the lower prices typically seen in early fall.
What Salary Do You Need to Live Comfortably in Kansas City?
At a median rate of $1,132 for a one-bedroom apartment, you would need to earn around $45,280 annually to ensure your rent remains affordable (under 30% of your total income). For a two-bedroom apartment at $1,336, you would need to earn closer to $53,440 annually.
Average Rent in Kansas City, MO By Neighborhood
Most Popular Apartment Communities in Kansas City
Among the most popular apartment communities in Kansas City, Eastwood Crossings stands out with the highest level of interest from apartment hunters, followed closely by The Falls in Mission, Canyon Creek, and Aspen Landing Apartments. Other Kansas City favorites, such as The Newbern and Flashcube Luxury Apartments, also attracted substantial attention, offering renters a variety of highly rated options across different neighborhoods and price points.
| Unit Rented On | Bedrooms | Bathrooms | Time on Market | Last Price Seen |
|---|---|---|---|---|
| 2024-10-19 | 2 | 1 | 3 days | $875 |
| 2024-10-14 | 3 | 1.5 | 47 days | $1299 |
| 2024-10-10 | 2 | 1 | 3 days | $874 |
| 2024-10-10 | 2 | 1 | 9 days | $874 |
| 2024-10-10 | 2 | 1 | 15 days | $874 |
| 2024-10-10 | 2 | 1 | 60 days | $874 |
| 2024-10-10 | 2 | 1 | 5 days | $874 |
| 2024-10-09 | 2 | 1 | 9 days | $874 |
| 2024-10-08 | 1 | 1 | 88 days | $765 |
| 2024-10-08 | 2 | 1 | 6 days | $874 |
Kansas City’s Rental Market
Explore expert insights into the latest trends and key metrics in Kansas City’s rental market.
Is Kansas City a Good Rental Market?
Kansas City is a promising rental market, with rent prices rising steadily but still offering affordable options across different apartment sizes. Demand is high, as shown by apartments spending less time on the market, especially for popular layouts, making it a competitive area for renters looking to secure a spot.
Is It Hard to Get an Apartment in Kansas City?
It can be challenging to secure an apartment in Kansas City, as many units are renting quickly, especially in popular sizes. Studios, for example, have averaged just 96 days on the market in recent months, and larger three-bedroom units are rented within only 35 days, signaling strong demand across the board. Given the short market times and rising rental rates, prospective renters may need to act quickly to find the best options available.
What Is the Price to Rent Ratio in Kansas City?
In Kansas City, with a price-to-rent ratio of 15.4, it’s generally more affordable to rent than buy, as purchasing a home requires a significantly larger financial commitment. This makes renting ideal for those seeking flexibility or who want to avoid the higher upfront and ongoing costs associated with homeownership.
How Much Is Rent in Cities Near Kansas City?
Rent prices in nearby cities often provide useful context when evaluating housing options.
Here, we compare average rents in cities around Kansas City, helping you gauge affordability and explore alternatives.
| Bed | Bath | Property Average Price (% compared to Market)* | Property Average Days on Market (% compared to Market)* |
|---|---|---|---|
| 1 | 1 | $765 (-39.2%) | 70 (-23.9%) |
| 2 | 1 | $848 (-24.9%) | 26 (-58%) |
| 3 | 1 | $1300 (5.7%) | 60 (-29.4%) |
| 3 | 1.5 | $1299 (4%) | 26 (-55.1%) |
Rent prices in cities near Kansas City vary widely, with more affordable options in Gladstone and Riverside, where one-bedroom units average around $858 and $948, respectively. Higher-end markets like Leawood and Overland Park have one-bedroom averages above $1,400, reflecting their appeal and proximity to more urban amenities.
For larger units, cities like Lee’s Summit and Shawnee have higher three-bedroom rents, averaging around $2,287 and $2,372, respectively. These rates indicate a premium on spacious rentals in suburban areas near Kansas City.
Looking for an Apartment in Kansas City?
Kansas City and its surrounding areas offer a diverse rental market with options to fit various lifestyles and budgets. Whether you're seeking the vibrancy of downtown or the tranquility of suburban living, finding the perfect fit can be challenging with so many choices.
Take our personalized quiz designed to match you with options tailored to your preferences. You'll be sure to simplify your search and uncover the ideal apartment for your needs. Discover your dream apartment today and make Kansas City feel like home.
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