Kansas City, Missouri was named by the Real Wealth Network as one of the best places to buy rental property in 2017. The Real Wealth Network article provides an explanation of the diversity in the Kansas City Metro job market. There are a variety of activities available to citizens which include sports, art, and cultural experiences. Additionally, it is one of the most affordable cities in the United States.
This is due to Kansas Cities economic and population growth. Kansas City is becoming one of the leaders in technology in the United States. In fact, Kansas City recently won the 'smart city' tech award. Kansas City is continuing to expand by adding around 10,000 jobs yearly throughout healthcare, IT, manufacturing, and the auto industry.
The following bullet points were taken directly from the Real Wealth Network'sarticle:
1-Year Appreciation Rate: 6.7%
3-Year Appreciation Rate: 21.3%
1-Year Job Growth Rate: 1.4%
Kansas City has become one of the hottest spots for renters, which in turn has increased demand for more available homes and apartments for rent.
There is a large number of affordable homes on the market including pre-foreclosure and bank-owned properties priced around $100,000 to $120,000. The average list price here is $187,000.
The median household income here is about $56,740.
In conclusion, Kansas City is providing new job opportunities due to economic and population growth. Because it is one of the most affordable cities in the United States, it provides affordable homes/rental properties. This has allowed Kansas City to become a great opportunity for renters and investors alike.
Reference:
"The Best Places to Buy Rental Property in the Year 2017." Real Wealth Network.