According to research done by Zillow, Kansas City saw an increase 8.5% in annual growth in rent prices, at a medium monthly rent price of $1,214. Kansas City ranked number 4 in year-over-year change in price of rent, we know that this is happening because the demand is higher than the supply of desired downtown apartments.
You can go to multiple KC real estate renting websites right now and find an abundance of apartments for rent. However, what you will not see is high quality apartments for rent within the perimeter of the ‘desired districts.’ This is very apparent when looking at One Light Apartments with a waiting list of +1,500 applicants.
You can get interactive with this map here.
It appears from this development map that developers believe the ‘desired districts’ run along the KC streetcar. Whether this proves true or not, only time will tell.. (Desired Yuppie Downtown KC districts -post coming soon). Perhaps the spurt in development will drive prices back down, or maybe demand will continue to rise…