7 Reasons to Invest in Kansas City Real Estate
There are a lot of reasons I love my hometown, but now that I’ve invested extensively in it, I have to say I love it even more. In fact, I love it so much that I feel compelled to share with other investors all the reasons I think it’s so great! Whether you live in KC and want to invest locally or you’re an out-of-state investor looking for a remote opportunity, Kansas City’s got it going on. Here’s why you need to be investing in the Heart of America right now:
- Increasing Home Values – Home values have been steadily increasing in KC over the last several years. While the cost of living is still very low compared to other major metropolitan areas, home prices have gone up. According to Zillow, values increased 11.1% last year and are projected for a 6.6% increase over the next year. Right now, there are plenty of neighborhoods for investors that are still affordable and offer up a variety of property classes, but with values on the rise, the time to buy is now.
- Downtown Revitalization – Downtown used to be a blighted area that most people avoided. Today, this couldn’t be further from the truth. Downtown KC has undergone a dramatic revitalization effort that has attracted both businesses and residents. Of course this also bring in a lot of visitors as well, so you can rest assured that not only is the economy looking good now, but will continue that way for the foreseeable future.
- Rich Culture – A lot of people are surprised at just how cultured KC is. They assume that we’re a boring old cowtown because we’re in the middle of the country, but that’s just a dumb myth. We are home to a world class art museum, a ballet company, a symphony, and tons of other fabulous museums, theaters, and top notch dining. Again, this brings in both residents and visitors, boosting the local economy and making it hot for investors.
- Affordable Cost of Living – Like I mentioned before, the cost of living in Kansas City is fairly low. Nationally, we are ranked as the second most affordable city, according to GoBankingRates, who compared things like home rent, groceries and utilities to come up with the rankings. KC also offers up high average salaries, allowing residents and business owners to stretch their dollars even farther.
- Job Opportunities – Another economic driver in KC is the diverse employment opportunities that are found here. Kansas City is becoming a healthcare and engineering stronghold in the country, with top employers like St. Luke’s Healthcare and Burns & McDonnell. In fact, Burns and & McDonnell released a statement in summer 2018 saying they plan to hire 1,000 new employees each year for the foreseeable future!
- Metropolitan-wide Growth – Area-wise, Kansas City is pretty large. The metro area covers 7,952 square miles, with fast-growing suburbs on both sides of the state line. Cities like Overland Park, Lee’s Summit, and Liberty are all booming in terms of new development and population growth, meaning there are lots of opportunities for investors looking for high quality properties. Even in the heart of KC where physical growth is more constrained, there are plenty of deals to be made on existing properties.
7. Nice People – Finally, people in KC are just plain old nice. Everyone says the Midwest has the friendliest people in the country, and it’s true! And investing here means you get to work with some of those nice folks!