The top rental markets in Kansas are Wichita, Topeka, and Overland Park.
The TurboTenant Report includes analysis of the average number of leads per property, the average number of days on market, average rent price, median sale price, median income, security deposit trends and livability score.
Kansas Rental Trends:
Kansas has a strong economy in tourism and agriculture while also being extremely affordable compared to many states. There are college towns, big cities, and small-towns which means property investors have a multitude of options to choose from. Here are some highlights from the top rental markets in the Wheat State.
Days on Market:
The city with the lowest days on market is Wichita at 12 – below the national average which sits at 15 days; Overland Park has the highest number of days on market at 20.
The top two towns for the largest amount of leads per listing are above or around the national average sitting at 38. Here they are:
- Wichita – 66 leads per listing
- Topeka – 37 leads per listing
Average Rent: (2 bedroom listings)
With the national average rent at $1,207 for a two-bedroom, Topeka comes below that with the lowest average rent of $677 for a two-bedroom compared to the highest rent in Kansas at $1,091 in Overland Park.
Median Home Sale Price:
According to data from Redfin, which is a national real estate brokerage company, the national median home sale price sits at $306,000. Kansas’s highest median sale price comes above that at $349,000 in Overland Park with its lowest median sale price at $121,000 in Topeka.
Kansas’s median income rings in at $44,570 – below the national average at $48,500.
Security Deposit Trends:
Security deposits have risen in Kansas’s cities between 2018 and 2019. With the largest being an increase of 40% in Overland Park at $1,400, and the smallest increase at 11.54% in Topeka with the current average at around $725 – under the national average for security deposits which is $1,200.
All of Kansas’s cities have a livability score of 62 or higher with the highest being Overland Park at 83!
Please visit here for our full methodology.
Whether you’ve found the best Kansas investment property in these top rental markets, or somewhere else, TurboTenant can help streamline your rental process with easy and free online rental applications as well as thorough tenant screening so you can find the best renter for your property.