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Market Summary: Kansas City Rental Market Overview

Updated: Sep 6, 2023


The rental market in Kansas City, Missouri, continues to exhibit stability and moderate growth. As of the latest update, the median rent for 3-bedroom properties stands at $1,512. This figure serves as a useful benchmark for both tenants and landlords, providing insight into current pricing trends and market conditions.


Median Rent: $1,512


The median rent of $1,512 reflects the midpoint between the highest and lowest rents in the market. It serves as a representative value that gives potential tenants an idea of what to expect when searching for a 3-bedroom rental property in Kansas City.


Month-Over-Month Change: -$3


Over the past month, there has been a slight decrease of $3 in the median rent. This marginal change indicates a relatively stable rental market, with rental prices remaining consistent on a month-to-month basis.


Year-Over-Year Change: +$55


Comparing the current median rent to the same period last year, there has been a modest increase of $55. This year-over-year growth suggests a steady demand for rental properties in Kansas City, which may be influenced by factors such as population growth, job opportunities, and lifestyle preferences.


Available Rentals: 427


At present, there are 427 rental properties available in the Kansas City area. This indicates a healthy supply of options for potential tenants, providing a diverse range of choices in terms of location, amenities, and rental rates. With a significant number of available rentals, tenants have the opportunity to find a property that suits their needs and preferences.


The Kansas City rental market presents both opportunities and considerations for tenants and landlords alike. Tenants searching for a 3-bedroom property can expect to find a variety of options, taking into account their budget and desired location. Landlords, on the other hand, can benefit from the steady demand for rental properties and make informed decisions about rental pricing and property management.


As the market continues to evolve, it is crucial for both tenants and landlords to stay informed about current market trends and rental rates. Regular updates on median rents, month-over-month changes, and available rentals provide valuable insights that enable informed decision-making.


Disclaimer: The information provided in this article is based on the most recent data available and serves as a general overview of the Kansas City rental market. It is subject to change and should be used for informational purposes only. Individuals should conduct further research and consult with relevant professionals for specific rental inquiries or investment decisions.


Sources:


Rental data sourced from [insert data source]


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