According to Time Magazine, Kansas City is one of the top 10 housing markets in the country for buyers to consider. And it’s easy to understand the reason why when looking at the recent performance statistics.
Among other things, the population of Kansas City has grown by 0.73 percent year-over-year. The unemployment rate is down to just 4.5 percent, according to the U.S. Bureau of Labor Statistics reports. The real estate market is booming, with WalletHub ranking Kansas City as one of the top markets for renters.
When looking to invest, location is a key element that you should consider. Even within Kansas City, no two neighborhoods are ever the same. Some hold more potential for good return on investment than others.
In this article, we here at Young Management will go over the top areas in Kansas City that you should consider for your next property investment. You’ll learn about the neighborhoods that are most promising for real estate investors in this part of Missouri.
Best Kansas City Neighborhoods to Buy Real Estate
Volker is a Midtown neighborhood right at the center of the action. It is home to just 4,523 people.
It’s highly walkable and features plenty of things for residents to do and see. There are numerous outdoor parks, a budding nightlife district, sidewalks on almost every street, and plenty of shopping and dining options.
The Volker real estate consists of bungalows, red-brick apartment buildings, and sprawling apartments. The neighborhood is perfect for those who enjoy the freedom of a laid-back lifestyle.
Leawood is located just a few miles from Overland Park. It is home to 34,670 residents. The neighborhood is home to beautiful upscale homes and estates. It’s the perfect fit for people looking for a quiet, luxurious suburb.
Leawood is popular for its family-friendly atmosphere, and trendy, upscale dining scene.
The neighborhood’s real estate is primarily made up of small (studio to 2BR) to medium sized (3 or 4 BR) single-family homes and apartments.
3. Overland Park
Overland is located just 20 minutes from the downtown’s core. It’s a beautiful area, home to about 183, 755 residents.
While it’s quite large, this town is perfect for young couples and families looking to settle into a quiet suburban lifestyle.
Overland is one of the most attractive neighborhoods in Kansas City. There are lots of family-friendly activities, top amenities, and many outdoor parks.
Overland real estate is ideal for both families and outdoor enthusiasts. Moreover, unsurprisingly, it has one of the highest appreciation values in the country. According to NeighborhoodScout, the annual average appreciation rate is 4.24%.
4. River Market
About 3,419 residents call River Market home. Despite the big city atmosphere, comforts of the Midwest still permeate this urban area.
The City Market – one of the region’s largest Farmer’s Market – is located here. The market opens on the weekends and is known for fresh produce and goods.
The River Market real estate is diverse. It suits a variety of lifestyles and incomes, from various upscale and income-based apartment complexes to stylish lofts, condos and contemporary homes.
This is a small town in a big city. Brookside has a population of about 11,000 people and is located on the Missouri side of Kansas City.
The neighborhood is known for its gorgeous homes, unique shops, and warm, inviting atmosphere. There are numerous opportunities available for residents to indulge, amuse, and explore. These include quaint restaurants, stylish coffee shops, and upscale eateries. Brookside also has a great walkability score.
Waldo is located right on the city center’s edge. It’s a cute, quaint community that is a good fit for any investor starting out in real estate.
Waldo features trendy coffee shops, day spas and nightlife, as well as plenty of locally-owned shops and boutiques. The cost of living is also affordable. According to AreaVibes.com, it is sixteen percent lower than the national average.
Waldo real estate is relatively affordable. A quality 2-BR home costs typically anywhere between $80,000 and $200,000.
And, just like most neighborhoods in Kansas City, it is both bikeable and walkable.
7. Crossroads Arts District
Kansas City is home to a flourishing arts and culture scene. Not to mention the creative businesses and fine shopping and dining options available. Crossroads neighborhood is located right at the intersection of the city’s most travelled thoroughfares. It’s a must see area.
This neighborhood is home to a population of about 7,491 people.
The real estate in Crossroads Arts District features upscale lofts and condos. The median cost of homes ranges between $210,000 and $289,000.
Parkville is in Platte County and is home to about 6,724 people. This is an up-and-coming yet family-friendly neighborhood in Kansas City. It’s the perfect location for investors just starting out and looking to target renters with families.
The neighborhood is quiet, clean and inviting. It combines the urban vibe of Kansas City with a pastoral ambience.
Parkville real estate is one of the state’s most desirable. The median home value is $465,000 – an increase of 4.6% from the previous year.
9. Scarritt Renaissance
This is one of the oldest neighborhoods in Kansas City. It’s known as being Kansas City’s “backyard playground.”
There are a lot of many different things to do and see here. There are walking trails and places for rollerblading, skateboarding, biking, running, hiking, fishing, and even rock climbing.
Homes in Scarritt Renaissance are budget friendly, with the average one costing between $100,000 and $200,000. You can even snug up a fixer upper for under $100,000.
Smithville is about 20 miles from Kansas City. It’s filled with charm and bustling with activity, and is alive with mouth-watering eateries, quaint retailers, and a 7,000+ acre recreational lake.
Smithville features top amenities such as biking and walking trails, golf courses, equestrian trails, two beaches, and more than 500 campsites.
According to Zillow, the typical value of homes in Smithville is $278,471.
In a Nutshell: Best Real Estate Markets in Kansas City
Kansas City real estate is arguably one of the hottest in the country right now. All things are looking up, from being an attractive renters’ market to being one of the country’s best housing markets.
Are you just starting out as an investor? If so, hiring a professional can help tremendously. Young Management can help you get important market insights to make the right investment move.