Buying a property as an investment is different than picking out a place to raise a family. Learn about the top real estate investment markets in Kansas.
Most people just don’t understand Kansas.
On one hand, it is what you would think. There are plenty of large, family-owned farms stretching out across the prairie, and there are small and mid-sized towns where people enjoy a good life with little traffic and affordable housing.
On the other hand, Kansas also has two major metropolitan areas, (Kansas City and Wichita,) which offer the amenities of any other typical suburban area across the country. There’s plenty of excellent shopping, fantastic barbecue, and top-notch public schools.
The other thing that makes Kansas more complicated than many would realize is the fact that most of Kansas City is actually in Missouri. And even though there is a Kansas City, Kansas, most people who live “on the Kansas side” of the KC area do not live in Kansas City proper. Most live in suburbs such as Overland Park, Shawnee, Lenexa, and Leawood.
There are also two popular college towns in the state. The University of Kansas is located in Lawrence, and Kansas State University is in Manhattan. While these towns enjoy various industries, you only have to spend a little bit of time there to see that the main focus of these communities are the colleges that were built there.
If you are interested in moving to Kansas or investing in property in the state of Kansas, spend some time there. Talk with a Clever Real Estate Agent to discover which areas are hot and will offer the most significant return for your money.
People are moving to the Kansas City and Wichita areas. Of course, as the population increases, so does the value of the homes. Kansas City home values have increased 11.5% over the last year, although this data is not specific to homes on the Kansas side. Wichita home values have gone up 6.7% over the past year, and they are expected to climb another 3.8% within the next year.
If you enjoy investing in real estate, you will be happy to hear that the rental rates in the Kansas City area have increased more than the national average. This trend should be continuing as Kansas has been recognized as one of the nation’s top emerging technological and entrepreneurial hubs in the country.
If you are buying real estate as an investment, but you don’t plan to live in the home, make sure you talk with a real estate agent who not only lives in the area but is knowledgeable about the communities within it. Some subdivisions and neighborhoods do not allow homeowners to rent out their houses.
Most Expensive Cities in Kansas
Mission Hills is located on the state line between Kansas and Missouri, which means that inhabitants can easily enjoy the amenities of the larger Kansas City, Missouri area. Its inhabitants tend to be educated and wealthy. The local schools are ranked as some of the best in the state of Kansas.
Leawood is also located along the Kansas and Missouri state line. It offers excellent public schools and youth sports facilities. Most of its population is college-educated and wealthy.
Most of the homes in Lake Quivira lie in a gated community. The exclusive area has costly homes with a country club-like atmosphere. Besides the lake, there are also clubhouses, a golf course, tennis courts, and hiking and riding trails. Ask your realtor about which school district your child is assigned to based on your Lake Quivira address.
Stillwell is a small community south of Leawood. It is known for its large homes on larger pieces of property. It is also located on the state line and has excellent public schools.
Eastborough is a unique area. It is a small town that lies in the middle of the city of Wichita. It has a low crime rate and a good public school district. The population is only 754, and most of the adults living there have white-collar jobs.
Westwood is another tiny community tucked within the Kansas City area. It is on the state line and has a population of 1,655. Most of the area’s population has white-collar jobs, but there are also a large number of artists and designers in the area.
Located west of the exclusive Mission Hills, Fairway is a small community of fewer than 4,000 people. It has good public schools and many amenities for local youth.
Overland Park is often ranked nationally as one of the best communities to live with a family. It offers great public schools, shopping, restaurants, and health clubs. It is one of the largest cities in Kansas, enjoying a population of over 190,000.
Prairie Village is one of the older suburban communities in the Kansas City area. It has older homes with more established trees. It offers good schools and a low crime rate.
Lenexa is the ninth largest community in the state. The city has done a lot in recent years to pull businesses and families into the area, and so this area will continue to grow in rank and popularity.
Like many areas, there are a lot of nuances when it comes to buying property. Even if you live in Kansas, make sure you talk with a Clever Partner Agent with intimate knowledge of the real estate market in your area before making any real estate investment decisions.