Market Report
Kansas City
KC Market Rebounds with Rent Growth and Renewed Demand
Kansas City’s multifamily market is gaining momentum, supported by robust population growth, rising rents, and improving investor sentiment. Nearly 25,000 new residents moved to the metro in the past year, driving strong unit absorption across both luxury and workforce segments. Despite a temporary rise in vacancy due to record-setting new deliveries, sustained renter demand and a more measured construction pipeline signal a healthy rebalancing ahead.
Rents are rising across all asset classes, with Kansas City now ranking among the top-performing metros nationally for rent growth. Meanwhile, transaction volume is rebounding, especially in value-focused assets, as private and institutional buyers begin to re-enter the market. With fundamentals trending upward and new development concentrated in high-growth areas, Kansas City is positioning itself as a compelling target for multifamily investment.
Key Highlights:
- 25,000 new residents in the past year – 30% growth over 2023
- 5,000 units absorbed, nearly double versus prior year
- Rents up 3.8% YoY, led by 3 star properties at 4.0%.
- $469M in sales volume, signaling a rebound in investor activity
Download the full report to explore market data, rent trends, sales insights, and GREA’s expert analysis.