Why Are Home Builders Picking Kansas City?
Kansas City is catching the eye of home builders, and for good reason. The city, well known for its barbecue and loyal sports fans, has much to make it appealing. Stable employment, a growing population with solid income and low unemployment rates all combine to make the city appealing. Here are some of the reasons home builders are drawn to the City of Fountains.
A Beautiful City Recently Revitalized
With over 200 fountains throughout, Kansas City has been nicknamed the “City of Fountains.” It is an attractive city, and recent improvements have added to its appeal.
Since 2000, the city has invested over $6 million in revitalizing its downtown, turning it into a trendy location filled with restaurants, boutique shops, art and music. As a result, new business locations, restaurants, entertainment, condos and apartments line many corners that were once dilapidated and failing.
Market Trends Encourage Investment
Strong economic growth has changed the demographic of the Kansas City real estate market. Today, high average rent couples with moderate average home prices, making the market appealing to investors. Key market trends for the metro area include:
- Median household income: $57,000
- Median home price: $141,000 metro, $85,000 in downtown
- Median monthly rent: $990
The city is also experiencing population growth, with the metro population currently sitting at 2.1 million. As more people discover the benefits of the city, demand for residential properties will continue to rise creating a solid opportunity for home builders.
Solid Employment Options Encourage Population Growth
Kansas City has seen steady population growth over recent years. One of the reasons for this is the many economic and employment opportunities within the metro area. Well known companies, like Hallmark and Sprint, have headquarters or major operations bases within the metro area.
This combination of strong market trends, solid employment and an attractive city that has recently been revitalized all combine to make Kansas City a top choice among home builders and investors alike. Inspired Homes is ready to capitalize on this market with beautiful, newly built homes in some of the metro area’s most attractive neighborhoods.