Slowing Deliveries Help Rent Gains
Kansas City rent growth ranked third among Yardi Matrix’s top 30 markets, up 3.1% year-over-year as of June and well above the 0.9% U.S. rate, according to the latest Kansas City multifamily market report. At $1,335, the average advertised asking rent lagged the $1,749 national figure, as per the latest U.S. multifamily market report.. The occupancy rate in stabilized properties slid 20 basis points year-over-year, to 94.5% as of May. The Lifestyle rate (95.0%) was higher than the RBN figure.
The deceleration in employment growth continued in the first months of 2025, at 0.4% as of April. The figure was on par with Chicago and half the 0.8% U.S. rate. Kansas City shed 3,900 net jobs overall, with gains in four sectors: education and health services (6,000 jobs), mining, logging and construction (3,000), government (2,000) and financial activities (1,100). Meanwhile, unemployment stood at 3.8% in May, outperforming the U.S. (4.2%). Construction is underway across several redevelopment projects, including the $1 billion Berkley Riverfront and the $527 million West Bottoms, which have their first phases set for completion in 2026.
While deliveries dropped to 861 units this year through June, the pipeline remained significant, with 7,333 units under construction. Investment stalled, with just $182 million in multifamily assets trading during the first half of the year. The average price per unit slid by roughly 20% year-to-date, to $135,590, well below the $212,317 national figure.
Read the full Yardi Matrix Kansas City Multifamily Market Report August 2025
Add Comment