Why is Kansas City so hot with out of area folks?
First is the recent growth in Kansas City:
- Cerner is building a $4.5M campus on 290 acres
- Since 2014, 16,000 new jobs created
- Google Fiber selected Kansas City for its first location
- The Streetcar is supposed to open in 2015
- Large surge of start-ups moving into the city
- The Gross Regional Product Grew 2.95& in 2014 as compared to the US GDP of 2.2%
- Population has been growing at over 10% since 2000
Second is the large companies that are already in Kansas City
- Sprint Nextel
- H & R Block
- AMC Theatres
- Russel Stover
Third is Return on Investment Dollars
- Fully renovated homes can be purchased for between $55,000 and $80,000 in decent neighborhoods
- Rents have increased 8.5% in the past year to one of the top 5 in the country (according to Real Wealth Network)
- Home Prices are increasing.
- Media Home Price is $156,600
- Average Rents are $793
- Median Household Income is $56,743
Fourth Media Likes Kansas City
- Ranked #1 Best In Class’ in regional economic development acquisition in the U.S (2014 Winning Strategies report)
- Ranked #1 City for affordability, cultural venues and desirable lifestyle (Huffington Post)
- Ranked #2 Best Market for Renters by Forbes based on data from Marcus Millichap.
- Ranked #3 America’s Favorite Cities by Travel & Leisure
- Ranked #6 for Real Estate Investment (KC Business Journal 2014)
Investors are finding that they can buy rental property for cash flow now and can expect price appreciation in the future.
Now when it comes to owning property in Kansas City from afar, you need to have a really good team on the ground. We highly recommend talking with local Realtors, Property Managers, Title People and other service providers who know what’s what – start with our Business Associates and Member Properties.