Forbes Ranks Kansas City as One of Best Cities for Renters

Good news, KC investors! Kansas City has just been ranked as one of the top cities for renters in 2017 by Forbes.

If you’re already investing in this Midwestern gem, you probably already knew this. But for those who have yet to take the investment leap, this is the type of news that you may have just needed to push you to action.

Why does this matter so much? For starters, Forbes’ ranking is a pretty big deal. Every year, the magazine evaluates cities across the country for certain criteria, like average rent cost and vacancy rate. Once this information is gathered and analyzed, Forbes ranks the cities to determine which one has the best overall rating for renters, and this list is then published for all to see.

KC came in at #6 this year, and here’s a snapshot of the numbers for the metro:

• Average monthly rent: $843
• Buy vs. rent: $96/month cheaper to rent
• Year-over-year change in rent: 6.4%
• Median household income: $59,414
• Apartment vacancy rate: 4.8%
• Employment growth (2015): 1.3%
• Average rent as share of household income: 17%

Those figures look pretty good, don’t they? Kansas City has been on an upward swing for several years now, and with numbers like this to back it up, now is the time for investors to make a move. The metropolitan area has so much to offer, both for investors and renters. The livability is fantastic, with low cost of living rates, great restaurants and shopping, ever-expanding public transportation, and top notch entertainment options.

For investors, both sides of the state line have a lot to offer. There are lots of housing options, from single family to multi-family and commercial properties. Properties are available in all classes and conditions, too, so whatever your investment strategy or budget, you can find a piece of real estate that works for you. As mentioned, cost of living in Kansas City is some of the lowest in the country, and this works to an investor’s benefit as well. Maintenance, repairs, and anything else you need for your property is going to be cheaper than what you would find on either coast, for instance.

KC is where it’s at. Forbes obviously thinks so, but so do the thousands of investors who have chosen this growing Midwest city as their investment target. Don’t wait to get in the game - act now to score your property and take advantage of all that KC has going for it.