Rent to own Homes in Kansas City, MO
Kansas City is called the "City of Fountains" because the city built water fountains throughout the municipality in the late 1800s and early 1900s to provide for the many horses and riders passing through. The city still maintains over 200 fountains. These structures are a testament to the fact that KC has a history of caring for its residents - and livestock. John Calvin McCoy, a land surveyor from Indiana, together with 13 investors, formed KC in 1838. It was incorporated as the "City of Kansas" in 1853 and renamed Kansas City in 1889.
The first bridge to cross the Missouri River and several railways were built immediately after the Civil War. These developments attracted people to the area and were the catalyst for early growth in the city. Stockyards, packing houses, and warehouses began popping up throughout the city, which attracted even more newcomers. KC grew over the years - physically by annexing nearby towns, and in population by simply being the type of municipality people want to join. While it doesn't seem like Kansas City's 314.95 square miles will grow any further, it continues to attract new inhabitants. The city currently has 495,327 residents, which is 7.7% more than its 2010 population.
Kansas City, MO is a great place for affordable rent-to-own homes! With a median household income of over $56,179 and a median rent of $979, the Kansas City, MO rent-to-own market is more affordable than the traditional housing market which has shown tremendous growth across the U.S. and with it, aggressive competition for home purchases. With the current housing shortage trend it can make it harder to become a homeowner, including in Kansas City, MO. This means higher than average down payments for homes and higher qualification standards for conventional home loans. With a rent-to-own property, tenants are also buyers. You can live in the house for a set amount of time before you purchase it, meaning that you get to know the house, your neighbors, and your community before making the final purchase. This enables you and your family to make the right choice based on both information and experience. Rent-to-own is also a great alternative way to get into a home if you have bad credit or don't have enough saved for a down payment.
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Rent to own Homes in Cities Near Kansas City, MO
- Avondale
- Basehor
- Belton
- Birmingham
- Blue Springs
- Bonner Springs
- Bucyrus
- Claycomo
- De Soto
- Edwardsville
- Fairway
- Farley
- Ferrelview
- Gardner
- Gladstone
- Glenaire
- Grandview
- Houston Lake
- Independence
- Kansas City
- Kansas City
- Lake Quivira
- Lake Tapawingo
- Lake Waukomis
- Lansing
- Leavenworth
- Leawood
- Lee's Summit
- Lenexa
- Merriam
- Mission
- Mission Hills
- Mission Woods
- New Century
- Oaks
- Oakwood Park
- Olathe
- Overland Park
- Platte Woods
- Pleasant Valley
- Prairie Village
- Riverside
- Roeland Park
- Shawnee
- Smithville
- Spring Hill
- Stilwell
- Unity Village
- Westwood
- Westwood Hills
Neighborhoods in Kansas City, MO
Bannister Acres rent to own homes Beacon Hills rent to own homes Boulevard Village rent to own homes Blenheim Square - Research Hospital rent to own homes Blue Hills rent to own homes Bridlespur rent to own homes Blue Hills Estates rent to own homes Center City rent to own homes 18th And Vine And Downtown East rent to own homes Armour Fields rent to own homesBuying a Home in Kansas City, MO
Kansas City, MO is seeing rapid growth and Kansas City, MO's' housing market remains optimal with an average home price that is -25% below the 2023 national average. Kansas City, MO is part of Jackson county and taxes are an important factor to consider when purchasing a home whether through rent to own or a traditional purchase. The average tax rate as of 2023 for county Jackson is 1.27% which is above the national average, which is 0.99%.
Median Home Price in Kansas City, MO
Median Rent in Kansas City, MO
Average Cost of Living in Kansas City
Kansas City has an affordable overall cost of living. It is right about average for Missouri and 13.8% lower than the United States' average. Smaller nearby towns are within range of KC's cost of living. For example, Gladstone is 1.7% higher, while Independence and Raytown are 2.2% and 3.1% lower, respectively. Considering that it is the largest municipality in the state, it is somewhat surprising that Kansas City is more or less on par with other smaller cities.
Average Home Prices in Kansas City
Kansas City is the 38th most populous city in the USA. Larger cities often have high housing costs, but that's not the case in KC. The median cost of a home in Kansas City is $146,300, which is $13,200 lower than the state average of $159,500 and $84,900 lower than the US average of $231,200. Neighboring cities are typically only slightly higher or lower than Kansas City, but there are some exceptions. Ferrelview's median home cost is considerably lower at $104,700, while an average house in Parkville costs $445,500, which is significantly more expensive. KC has an excellent housing market for people looking for rent-to-own homes.
Kansas City Statistics
If you're interested in Kansas City rent-to-own homes, don't forget to consider important factors in addition to monthly living costs, such as average commute, taxes, crime rates, etc. The following are some common Kansas City statistics compared to the U.S. national average.
| Kansas City Averages | National Averages | |
|---|---|---|
| One-Way Commute | 21.8 minutes | 26.4 minutes |
| Violent Crime | 70.8 | 22.7 |
| Property Crime | 65.4 | 35.4 |
| Unemployment Rate | 4.6% | 3.9% |
| Income Tax Rate | 6.9% | 4.6% |
| Air Quality | 52 | 58 |
| Water Quality | 20 | 55 |
| Median Household Income | $45,376 | $53,482 |
| Median Property Taxes | $2,300 | $2,200 |
| Utilities | $170/month | $112/month |
| Monthly Rent | $1,030 | $1,470 |
| Median Home Cost | $146,300 | $231,200 |
| Median Home Age | 52 years | 40 years |
Popular Amenities and Attractions in Kansas City
Kansas City has a transportation system people would only expect from a city several times its size. Getting to and from the city is easy thanks to Kansas City International Airport, which transported 5,759,419 passengers in 2019. It takes approximately 20 minutes to get from the airport to downtown KC. RideKC buses conveniently help people travel the city and its surrounding region. Private taxis, car services, and rideshares are available throughout the city. People staying or living in or near the town could take advantage of free KC Streetcars for local travel. The city also has a bike-share program with options for electric assist or pedal bikes and electric-powered scooters.
There's so much to do in Kansas City. The National Museum of Toys and Miniatures and the Kansas City Zoo are excellent all-day family stops, for example. Sports fans will love the College Basketball Experience. And the Shoal Creek Living History Museum and John Wornall House Museum are perfect for history buffs. There are many interesting arts and cultural sites, museums, parks, and other attractions in the city.
You can also spend days wining, dining, and shopping in Kansas City's Country Club Plaza. The shopping center is massive, encompassing 15 city blocks with hundreds of stores, ranging from high end to boutique, and over 30 restaurants offering food from various nationalities. And for out-of-town visitors, there are many brand-name hotels such as Marriot, Hilton, and Sheraton within walking distance.
Kansas City has a deep history dating back nearly 200 years, with an updated infrastructure to accommodate its modern needs. The city has a mix of people from various races and nationalities and is a great place to live with many affordable rent-to-own opportunities. Kansas City is a loaded, happening, and affordable city. If you're thinking of buying a rent-to-own home, think KC.