Kansas City Rent Report: May 2024

Welcome to the Apartment List May 2024 Rent Report for Kansas City, MO. Currently, the overall median rent in the city stands at $1,291, after rising 0.6% last month. Prices and are now up 0.8% year-over-year. Read on to learn more about what’s been happening in the Kansas City rental market and how it compares to trends throughout the broader Kansas City metro area and the nation as a whole.

Kansas City rents are up 0.6% month-over-month and up 0.8% year-over-year

The median rent in Kansas City rose by 0.6% over the course of April, and has now increased by a total of 0.8% over the past 12 months. Kansas City’s rent growth over the past year has is similar to the state average (1.3%) and has outpaced the national average (-0.8%).

Kansas City rent growth in 2024 pacing similar last year

Four months into the year, rents in Kansas City have risen 1.1%. This is a similar rate of growth compared to what the city was experiencing at this point last year: from January to April 2023 rents had increased 1.2%.

April rent growth in Kansas City ranked #42 among large U.S. cities

Kansas City rents went up 0.6% in the past month, compared to the national rate of 0.5%. Among the nation's 100 largest cities, this ranks #42. Similar monthly rent growth took place in Santa Clarita, CA (0.6%) and Seattle, WA (0.6%).

Kansas City is the #71 most expensive large city in the U.S., with a median rent of $1,291

Citywide, the median rent currently stands at $1,120 for a 1-bedroom apartment and $1,322 for a 2-bedroom. Across all bedroom sizes (ie, the entire rental market), the median rent is $1,291. That ranks #71 in the nation, among the country's 100 largest cities.

For comparison, the median rent across the nation as a whole is $1,226 for a 1-bedroom, $1,381 for a 2-bedroom, and $1,396 overall. The median rent in Kansas City is 7.5% lower than the national, and is similar to the prices you would find in Houston, TX ($1,302) and Columbus, OH ($1,276).

Kansas City rents are 0.2% higher than the metro-wide median

If we expand our view to the wider Kansas City metro area, the median rent is $1,288 meaning that the median price in Kansas City proper ($1,291) is 0.2% greater than the price across the metro as a whole. Metro-wide annual rent growth stands at 2.5%, above the rate of rent growth within just the city.

The table below shows the latest rent stats for 8 cities in the Kansas City metro area that are included in our database. Among them, Lee's Summit is currently the most expensive, with a median rent of $1,519. Kansas City is the metro’s most affordable city, with a median rent of $1,108. The metro's fastest annual rent growth is occurring in Gladstone (8.9%) while the slowest is in Kansas City (0.8%).

You can also use the map below to explore the latest rent trends in the Kansas City metropolitan area.