Kansas City has experienced steady population growth, with the current population estimated at approximately 2.25 million, reflecting a year-over-year increase of 1.55%. This upward trend has been consistent, rising from about 2.20 million in 2022 to 2.25 million in 2024. The region has also seen a net migration of approximately 52,771 individuals, contributing to a robust labor market with an employment figure of over 1.18 million and an unemployment rate of 3.2%. The median household income stands at $83,785, and the renter share is notable at 33.2%, indicating a significant demand for housing.
In the multifamily sector, year-over-year rent growth is recorded at 5.3%, with the median gross rent currently at $1,315. The HUD Fair Market Rents for a two-bedroom unit are benchmarked at $1,771, which is lower than the asking rent of $1,346 for similar units. This disparity suggests a moderate level of affordability, although the upward momentum in rent growth may challenge renters' budgets in the near term.
Capital market activity over the trailing 24 months has seen 111 transactions with a total volume of approximately $312.5 million, resulting in a median price per unit of $175,560. The multifamily cap rate is currently at 8.21%, which is about 117 basis points higher than the national median of 7.04%. This positioning reflects a market that is slightly more risk-averse compared to broader trends. Overall, the Kansas City market presents a stable environment for multifamily investment, though ongoing rent growth may necessitate careful underwriting to assess future affordability challenges.
Figures assembled automatically from public property records, third-party listing feeds, licensed market data, and federal sources (HUD, Census, BLS).
LEE’S SUMMIT, MO. — The Rainier Cos. has sold Summit Woods Crossing, a 545,204-square-foot shopping center in Lee’s Summit, about 20 miles southeast of Kansas City. Acquired by Rainier in May 2022, Summit Woods Crossing is located at the southwest corner of I-470 and U.S. Route 50. The property is…
LIBERTY, MO. — Newmark has arranged the $20 million sale of Liberty Corners, a grocery-anchored shopping center in the Kansas City suburb of Liberty. First Washington Realty acquired the 125,000-square-foot property from Brixmor Property Group. Conor Lalor, Keely Polczynski and Tim McKay of Newmark represented the seller. Colleague Brian Schneiderman…
LIBERTY, MO. — Opus has completed the lease-up of Liberty Heartland Logistics Center in the Kansas City suburb of Liberty. Opus developed and built the three-building, 1.6 million-square-foot industrial park. Recent leasing activity includes Wagner Logistics, a third-party logistics provider that leased 317,000 square feet in Building B, and Dakota…
Price Brothers has appointed CBRE as the exclusive leasing agent for Valencia Place, a 10-story, approximately 250,000-square-foot office building at 444 W. 47th St. in Kansas City, built in 2000. Designed by CDFM2 before its merger with HOK, Valencia Place has long served as home to Lockton Companies, which plans…
KANSAS CITY, MO. — The Negro Leagues Baseball Museum and Grayson Capital have announced Russell Construction, in partnership with Vazquez Grayson, as the construction team for the new Negro Leagues Baseball Museum and The Pennant Hotel planned for Kansas City’s historic 18th & Vine District. The development involves a new…
The filing comes weeks after VanTrust broke ground on its first Sacramento-area project in Rancho Cordova, positioning the Kansas City developer to deliver more than 600,000 square feet across two projects in a single cycle. VanTrust Real Estate has filed plans for its second industrial project in the Sacramento region…
| Sold | Address | Type | Units | Price | $/Unit |
|---|---|---|---|---|---|
| 2025-05-02 | 260 Oldham Pkwy, Lee's Summit, MO 64081 | Multifamily | — | $16.2M | — |
| 2025-04-25 | 3700 Warwick Blvd, Kansas City, MO 64111 | Multifamily | 27 | $3.1M | $116,667 |
| 2025-02-27 | 3516-20 Central St, Kansas City, MO 64111 | Multifamily | 14 | $1.3M | $89,286 |
| 2025-02-20 | 902 Emanuel Cleaver II Blvd., Kansas City, MO 64110 | Multifamily | 36 | $3.8M | $106,250 |
| 2025-02-10 | 7805 W 151st St, Overland Park, KS 66223 | Multifamily | — | $11.0M | — |
| 2025-01-23 | 3719-3723 Wyoming St, Kansas City, MO 64111 | Multifamily | 46 | $4.6M | $100,000 |
| 2025-01-10 | 900 E 29th St, Kansas City, MO 64109 | Multifamily | 36 | $4.5M | $126,111 |
| 2024-12-20 | 8055 State Ave, Kansas City, KS 66112 | Multifamily | — | $8.6M | — |
| 2024-12-13 | 1301 Arrowhead Rdg, Independence, MO 64056 | Multifamily | 2 | $213K | $106,400 |
| 2024-12-10 | 2405 Prospect Ave, Kansas City, MO 64127 | Multifamily | 3 | $322K | $107,302 |
| 2024-12-10 | 524 W 39th Ter, Kansas City, MO 64111 | Multifamily | 1 | $2.9M | $2,909,658 |
| 2024-12-10 | 516-526 39th Ter, Kansas City, MO 64111 | Multifamily | 1 | $2.9M | $2,909,658 |
| 2024-12-09 | 1020 N Cottage Ave, Independence, MO 64050 | Multifamily | 1 | $565K | $565,250 |
| 2024-12-09 | 1103 S 4th St, Leavenworth, KS 66048 | Multifamily | 4 | $266K | $66,500 |
| 2024-12-06 | 6124 NW Bell Rd, Kansas City, MO 64152 | Multifamily | 16 | $3.6M | $227,555 |
| 2024-12-06 | 605 S Olive St, Louisburg, KS 66053 | Multifamily | 2 | $160K | $79,800 |
| 2024-12-05 | 8456-8458 Lane Dr , Raytown, MO 64138 | Multifamily | 1 | $242K | $242,392 |
| 2024-12-04 | 11510 Ballentine St, Overland Park, KS 66210 | Multifamily | 1 | $330K | $329,840 |
| 2024-12-04 | 3513 SW McDanial Ave, Blue Springs, MO 64015 | Multifamily | 2 | $1.9M | $957,600 |
| 2024-12-04 | 1400 SW Sunset St, Blue Springs, MO 64015 | Multifamily | 1 | $1.9M | $1,915,200 |
| 2024-12-04 | 12743 W 108th Pl, Overland Park, KS 66210 | Multifamily | 1 | $225K | $224,770 |
| 2024-12-04 | 1404 SW Sunset St, Blue Springs, MO 64015 | Multifamily | 2 | $1.9M | $957,600 |
| 2024-12-02 | 1835 Gates Dr W, Platte City, MO 64079 | Multifamily | 1 | $283K | $282,531 |
| 2024-12-02 | 7604 Lathrop Ave, Kansas City, KS 66109 | Multifamily | 1 | $249K | $248,710 |
| 2024-12-01 | 800-802 75th Ter, Kansas City, MO 64131 | Multifamily | 2 | $165K | $82,500 |
| 2024-12-01 | 800-802 E 75th Terrace Unit 800, Kansas City, MO 64131 | Multifamily | 2 | $165K | $82,500 |
| 2024-11-27 | 7143 NW Country Club Ln, Kansas City, MO 64152 | Multifamily | 1 | $224K | $223,900 |
| 2024-11-27 | 4209 Adams St, Kansas City, KS 66103 | Multifamily | 6 | $816K | $136,022 |
| 2024-11-26 | 5938 E 136th St, Grandview, MO 64030 | Multifamily | 2 | $340K | $170,240 |
| 2024-11-25 | 1416 E Haven Ln, Olathe, KS 66062 | Multifamily | 1 | $209K | $209,475 |
| 2024-11-25 | 925 N Jan Mar St, Olathe, KS 66061 | Multifamily | 2 | $1.9M | $944,164 |
| 2024-11-25 | 3109 S Cedar Crest Ct, Independence, MO 64057 | Multifamily | 1 | $2.7M | $2,730,490 |
| 2024-11-25 | 3117 S Cedar Crest Ct, Independence, MO 64057 | Multifamily | 1 | $2.7M | $2,730,490 |
| 2024-11-25 | 3131 S Cedar Crest Ct, Independence, MO 64057 | Multifamily | 1 | $2.7M | $2,730,490 |
| 2024-11-25 | 3132 S Cedar Crest Ct, Independence, MO 64057 | Multifamily | 1 | $2.7M | $2,730,490 |
| 2024-11-25 | 3139 S Cedar Crest Ct, Independence, MO 64057 | Multifamily | 1 | $2.7M | $2,730,490 |
| 2024-11-25 | 3219 Benton Blvd, Kansas City, MO 64128 | Multifamily | 2 | $253K | $126,350 |
| 2024-11-22 | 12317 E 59th St, Kansas City, MO 64133 | Multifamily | 2 | $274K | $137,156 |
| 2024-11-22 | 12323 E 59th St, Kansas City, MO 64133 | Multifamily | 2 | $274K | $137,156 |
| 2024-11-21 | 19020 Highway B, Edgerton, MO 64444 | Multifamily | 1 | $200K | $199,500 |
| 2024-11-21 | 10918 W 95th St, Overland Park, KS 66214 | Multifamily | 2 | $342K | $171,069 |
| 2024-11-20 | 11265 Bales Ave, Kansas City, MO 64137 | Multifamily | 2 | $195K | $97,256 |
| 2024-11-19 | 300 Miami St, Leavenworth, KS 66048 | Multifamily | 2 | $197K | $98,553 |
| 2024-11-19 | 1921 Cleveland Ter, Leavenworth, KS 66048 | Multifamily | 2 | $148K | $73,815 |
| 2024-11-19 | 4625 Harrison St, Kansas City, MO 64110 | Multifamily | 5 | $416K | $83,194 |
| 2024-11-18 | 401 E 117th St, Kansas City, MO 64131 | Multifamily | 2 | $424K | $211,969 |
| 2024-11-15 | 4147 McGee St, Kansas City, MO 64111 | Multifamily | 1 | $565K | $564,718 |
| 2024-11-14 | 10020 W 80th St, Overland Park, KS 66204 | Multifamily | 448 | $71.3M | $159,125 |
| 2024-11-14 | 10000 W 81st St, Overland Park, KS 66204 | Multifamily | — | $71.3M | — |
| 2024-11-09 | 1014 N 86th St, Kansas City, KS 66112 | Multifamily | 2 | $177K | $88,600 |
Recorded multifamily sales from public property records and third-party listing feeds over the trailing 24 months — a partial sample, not an exhaustive market index. Sources & methodology →
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