A city of jazz, blues, and barbeque
Discover Kansas City's Real Estate
The largest and most populous city of the state of Missouri, Kansas City is famous for its barbeque restaurants and distinct jazz music. It is home to many government agencies and some of the biggest automobile companies in the world. With the cost of living significantly lower than the rest of the US, thousands of people have moved to this city over the past couple of years. This could mean healthy returns for real estate investors in the region.
Culture, History, and Business
Often called the “Heart of America,” Kansas City was given the city-status in 1853. It was an integral headquarters for military activities in the Civil War, giving the city a very high place in American history books. When it comes to culture, Kansas City is often associated with performing arts and Jazz music. This led UNESCO to give it the title of “City of Music” in 2018.
The “Kansas City Blues and Jazz Festival” attracts large audiences and high-rated jazz artists from all over the world. Visual art is also enjoyed and appreciated in this city, with the Kansas City Art Institute and The Nelson-Atkins Museum of Arts being cornerstones to the arts society of the US.
Another cultural aspect that sets Kansas City apart from the rest of the US is its boundless love for barbeque. With a wide variety of barbeque restaurants in the country, it is quite often called the barbeque capital of the world.
The government is by far the biggest employer in Kansas City. With 146 federal agencies having their headquarters in this city, it has become a hub of US government agencies. In addition, large-scale automobile companies, such as Ford Automobiles and Smith Electric Vehicles, are major contributors to the city’s economy. Most of the big businesses and industries are located in the Kansas City Metropolitan Area, which makes the area an asset to the entire country.
Real Estate Appeal
The Kansas City property market has experienced massive growth in recent times. It has gained a reputation for being one of the best long-term real estate investment spots in the US. Home prices in Kansas City saw an increase of 4.6 percent from November 2018 to November 2019. Moreover, during this time, the average number of days of the availability of a home in Kansas City dropped by almost 5 percent to just 40 days. Not only is this a promising sign of real estate growth, but it is also an indication that this may be just the right time to buy a property in this city. With the considerable increase in demand, property prices are expected to surge in the coming years.
The average home price in Kansas City is around $230,000, which is almost the same as the national average. The good news for real estate investors, however, is that renovated homes are available for as low as $90,000, opening up chances to gain huge profits.
For rental properties, the average price is $204,000, which is lower than the city and country average. No wonder rental income in Kansas City has gone up by 23 percent in the last six years, compared to the national average of 17 percent. Whether you want to buy, sell, or rent out a property, the return on investment in this city is definitely one you would wish to avail.
Explore Kansas City's Real Estate
Local Real Estate Experts
Attractive Investments In Kansas City
📍Over 9,392 investors explored Kansas City