214 Pet Friendly Apartments for rent in Belton, MO
April 2020 Belton Rent Report
Welcome to the April 2020 Belton Rent Report. Belton rents declined over the past month. In this report, we'll evaluate trends in the Belton rental market, including comparisons to cities throughout the metro, state, and nation.
April 2020 Belton Rent Report
Welcome to the April 2020 Belton Rent Report. Belton rents declined over the past month. In this report, we'll evaluate trends in the Belton rental market, including comparisons to cities throughout the metro, state, and nation.
Belton rents declined over the past month
Belton rents have remained steady over the past month, but have decreased moderately by 1.5% year-over-year. Currently, median rents in Belton stand at $872 for a one-bedroom apartment and $1,070 for a two-bedroom. Belton's year-over-year rent growth lags the state average of 1.4%, as well as the national average of 1.9%.
Rents rising across the Kansas City Metro
While rent prices have decreased in Belton over the past year, the rest of the metro is seeing the opposite trend. Rents have risen in 9 of the largest 10 cities in the Kansas City metro for which we have data. Here's a look at how rents compare across some of the largest cities in the metro.
- Leawood has seen the fastest rent growth in the metro, with a year-over-year increase of 11.5%. The median two-bedroom there costs $1,523, while one-bedrooms go for $1,242.
- Over the past year, Kansas City proper is the only city in the metro that has seen rents fall, with a decline of 1.0%. Median two-bedrooms there cost $901, while one-bedrooms go for $735.
- Grandview has the least expensive rents in the Kansas City metro, with a two-bedroom median of $843; rents decreased 0.1% over the past month but were up 1.9% over the past year.
Belton rents more affordable than many large cities nationwide
As rents have fallen moderately in Belton, many large cities nationwide have seen prices increase, in some cases substantially. Belton is also more affordable than most large cities across the country.
- Other cities across the state have seen rents slightly increase, with Missouri as a whole logging rent growth of 1.4% over the past year. For example, rents have grown by 3.9% in Springfield and 1.0% in St. Louis.
- Belton's median two-bedroom rent of $1,070 is below the national average of $1,197. Nationwide, rents have grown by 1.9% over the past year compared to the 1.5% decline in Belton.
- While rents in Belton fell moderately over the past year, many cities nationwide saw increases, including Phoenix (+3.4%), New York (+2.7%), and Dallas (+2.3%).
- Renters will find more reasonable prices in Belton than most large cities. For example, San Francisco has a median 2BR rent of $3,102, which is more than two-and-a-half times the price in Belton.
For more information check out our national report. You can also access our full data for cities and counties across the U.S. at this link.
Methodology - Recent Updates:
Data from private listing sites, including our own, tends to skew toward luxury apartments, which introduces sample bias when estimates are calculated directly from these listings. To address these limitations, we’ve recently made major updates to our methodology, which we believe have greatly improved the accuracy and reliability of our estimates.
Read more about our new methodology below, or see a more detailed post here.
Methodology:
Apartment List is committed to making our rent estimates the best and most accurate available. To do this, we start with reliable median rent statistics from the Census Bureau, then extrapolate them forward to the current month using a growth rate calculated from our listing data. In doing so, we use a same-unit analysis similar to Case-Shiller’s approach, comparing only units that are available across both time periods to provide an accurate picture of rent growth in cities across the country.
Our approach corrects for the sample bias inherent in other private sources, producing results that are much closer to statistics published by the Census Bureau and HUD. Our methodology also allows us to construct a picture of rent growth over an extended period of time, with estimates that are updated each month.
Read more about our methodology here.
About Rent Reports:
Apartment List publishes monthly reports on rental trends for hundreds of cities across the U.S. We intend these reports to be a source of reliable information that help renters and policymakers make sound decisions, and we invest significant time and effort in gathering and analyzing rent data. Our work is covered regularly by journalists across the country.
We are continuously working to improve our methodology and data, with the goal of providing renters with the information that they need to make the best decisions.