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Kansas City, is a vibrant and culturally rich city nestled along the picturesque Missouri River. With a metropolitan population of approximately 2.1 million, Kansas City boasts a thriving economy, self-sufficiency, and a diverse range of attractions.
As the largest city in Missouri and the sixth-largest in the Midwest, Kansas City offers a plethora of opportunities and amenities. Sports enthusiasts can cheer on the renowned Kansas City Chiefs, KC Current and Kansas City Royals, while food lovers indulge in some of the Best Ribs in America. With over 200 water fountains, Kansas City proudly carries the nickname “City of Fountains,” trailing only Rome, Italy in numbers. Additionally, the city boasts an impressive number of boulevards, surpassed only by Paris, France.
In recent years, Kansas City has experienced significant downtown revitalization efforts. With over $6 million invested in transforming the city center, the downtown area has undergone a remarkable makeover, including the development of apartments, offices, and condominiums. Indoor and outdoor malls, restaurants, and entertainment venues have also received attention, offering a wide array of options for concerts, plays, and other cultural events.
One of the key advantages of the Kansas City real estate market is its affordability, with home prices hovering around the national average. This makes properties in Kansas City particularly appealing to investors and homebuyers seeking attractive cash flow opportunities. In fact, a 2017 WalletHub survey recognized the Kansas City Real Estate Market as the 18th fastest-growing among 300 cities across the United States.
Discover the possibilities and potential that Kansas City holds, whether you’re looking for an investment opportunity or searching for your dream home. Experience the allure of this thriving city and explore the remarkable real estate offerings it has to offer.
Why Invest in KC
Kansas City is a dream come true for real estate investors seeking growth potential. It offers a unique combination of factors that drive success in the market. The city’s population has reached an all-time high, with some suburban counties experiencing growth rates of nearly 20% since 2010, as reported by KCUR in Kansas City.
Being a major transportation hub and a thriving center for high-growth tech sectors like finance and information technology, Kansas City ranks among the top 15 large metro areas with the most technology jobs per capita. Moreover, the Kansas City metro area houses nearly 4,000 technology companies, creating a robust economic ecosystem.
The steady population and job growth in Kansas City generate strong demand for housing and rental properties, ensuring a healthy real estate market. According to Zillow data (as of Jan 31, 2022), the value of middle-price-tier homes witnessed a remarkable 17.6% increase over the past year. Additionally, Zumper reports a year-over-year rise of 17% in median rents for 3-bedroom homes (as of Feb 22, 2022).
Kansas City is a vibrant market with its impressive combined sales volume and price growth projected to increase by 15.7% this year; the city is set to attract more investors vying for rental properties.
Last year witnessed a remarkable surge, with home values in the metro area soaring by over 17%. Correspondingly, rents for 3-bedroom homes also experienced a substantial year-over-year increase of 17%. Despite this upward trend, Kansas City remains an affordable option compared to other major metros. Interestingly, 45% of households in the Kansas City metro area are occupied by renters, indicating a strong demand for rental properties.
Considering the promising landscape now is the perfect time to delve deeper into the Kansas City market.
Key Highlights
- Kansas City boasts a population of nearly 509,000 in the city and approximately 2.4 million in the metropolitan area.
- Home values and median rents in KC grew by an impressive 17% year over year.
- renters occupy 45% of housing units in the Kansas City metro area.
- Notable neighborhoods such as Midtown and Downtown Kansas City have a rental occupancy rate of over 60%.
Discover the endless opportunities that await in the heart of Texas – the captivating city of San Antonio. Boasting a rich history and a thriving economy, this dynamic metropolis attracts both seasoned investors and curious beginners with its diverse range of real estate prospects. From charming single-family homes to bustling commercial properties, the San Antonio real estate market offers something for everyone.
Investing in San Antonio real estate can prove to be a wise choice, thanks to its robust economy and growing population. Whether you’re a seasoned investor or just dipping your toes into the market, San Antonio offers a promising landscape to explore.
2023 Outlook: San Antonio Real Estate Market Favors Investors
Great news awaits real estate investors in San Antonio as the city’s Board of Realtors predicts stable housing prices in 2023, signaling continued recovery from the impact of the pandemic.
Although the single-family home market experienced a temporary slowdown, with home sales falling by 24% compared to 2021, this can be attributed to the rise in home prices (up by 14% from 2021) and mortgage rates. San Antonio remains a seller’s market, but the increase in days on the market has provided buyers with more time to make decisions.
According to Sara Briseño Gerrish, SABOR’s 2023 Chair of the Board, “San Antonio is witnessing an increase in the number of days homes stay on the market compared to the same period last year. Currently, the DOM (Days on Market) stands at 66, reflecting a year-over-year increase of 94%.”
San Antonio has become a popular destination for individuals relocating from other parts of the country. As noted by Lawrence Yun, Chief Economist of the National Association of Realtors, “The demand for housing continues to outpace supply. The economic conditions in the top 10 U.S. markets provide support for home prices to climb by at least 5% in 2023.”
Alicia Huey, Chair of the National Association of Home Builders, explains, “Buyer incentives, combined with stabilized mortgage rates in January, have increased the pace of new home sales for the month. However, sales are down 19.4% compared to a year ago, indicating current market weakness, as housing remains unaffordable for many on tighter budgets.
NAR also reports that only 27% of renters can afford to purchase a typical home. Consequently, residential rental rates have been on the rise since 2019 and continue to soar, with an average of $1,772 in 2022, reflecting a 7% increase!
These factors contribute to the notion that San Antonio will continue to offer a robust market for investors throughout 2023.
Looking Ahead: Real Estate Investing in San Antonio
Promising statistics paint a bright future for real estate investing in San Antonio, securing its place as the 9th leading housing market in 2023. With high housing demand and many individuals struggling to purchase homes, the rental market remains strong. Let’s delve into the reasons why investing in San Antonio real estate in 2023 could yield fruitful results:
A Thriving and Growing Population
San Antonio ranks among the fastest-growing cities in the US, with a current population of 2,454,000 in 2023, representing a 1.7% increase from the previous year. A growing population translates into increased demand for housing, making it an advantageous prospect for real estate investors.
More people mean a greater pool of potential renters and buyers, which can lead to higher rental rates and property values. Think of it as a game of musical chairs, where housing becomes more valuable as the number of participants grows!
Sioux Falls, SD, presents an enticing real estate market with promising prospects and upward growth. The region has witnessed a steady rise in average home values, reflecting a favorable environment for sellers. Buyers face fierce competition, as properties are being snapped up within a short period, often at or near the listing price. Nonetheless, there are still opportunities for buyers to negotiate and secure properties at a lower price point.
Looking ahead, the Sioux Falls Metropolitan Statistical Area (MSA) is expected to experience continued growth. Forecasts indicate a positive trajectory, with the housing market projected to increase by 0.5% by May 2023, followed by an additional 1% growth by July 2023. By April 2024, the market is anticipated to see significant growth of 4.3%. These projections paint a promising picture for the Sioux Falls real estate market, characterized by appreciation and ongoing market activity.
For real estate investors, the Sioux Falls market holds numerous compelling reasons to consider investing. The city boasts a robust and diverse economy, driven by major employers in sectors such as healthcare, finance, and manufacturing. This generates a strong demand for housing, particularly in the rental market.
Affordable housing is another key advantage in Sioux Falls. The city’s relatively low cost of living translates into affordable housing prices, making it easier to generate cash flow from rental properties. Additionally, there is potential for appreciation over time.
Sioux Falls’ growing population is yet another factor driving the demand for housing. With a consistent population increase of over 14% since 2010, the city is likely to continue experiencing sustained demand for housing.
Beyond the economic aspects, Sioux Falls offers a high quality of life. It consistently ranks among the best places to live in the United States, characterized by a strong sense of community, abundant outdoor recreation opportunities, and an overall high standard of living.
Investors can also benefit from the region’s favorable tax environment. Sioux Falls has a low tax rate, with no state or local income tax or state business income tax. This can result in potential tax savings and increased returns on investment.
While there are potential risks and concerns, such as overbuilding in the apartment sector and the vulnerability to economic downturns, the overall outlook for the Sioux Falls real estate market remains positive.