{"id":5444,"date":"2023-01-19T11:11:37","date_gmt":"2023-01-19T11:11:37","guid":{"rendered":"https:\/\/www.yardimatrix.com\/blog\/?p=5444"},"modified":"2023-09-13T04:36:05","modified_gmt":"2023-09-13T04:36:05","slug":"kansas-city-multifamily-market-report-december-2022","status":"publish","type":"post","link":"https:\/\/www.yardimatrix.com\/blog\/kansas-city-multifamily-market-report-december-2022\/","title":{"rendered":"Kansas City Multifamily Market Report \u2013 December 2022"},"content":{"rendered":"<h2>Limited Supply Keeps Rent Gains Healthy<\/h2>\n<p>Kansas City\u2019s multifamily market <strong>continued to display steady fundamentals<\/strong>, despite national and macroeconomic challenges. With deliveries lagging, rent growth remained above the U.S. rate, rising 0.6% on a trailing three-month basis, to $1,218, but still affordable compared to the $1,727 U.S. figure. The occupancy rate slid by only 10 basis points in the 12 months ending in September\u2014at 95.5%\u2014sustained by the upscale segment.<\/p>\n<p>Kansas City unemployment dropped to 2.2% in September, according to preliminary data from the Bureau of Labor Statistics, outperforming the U.S. (3.5%), Missouri (2.6%) and Kansas (2.8%). While the market had more employees going into 2022\u2019s third quarter than it did right before the pandemic started, job growth has lagged lately. In the 12 months ending in August, <strong>employment improved by just 1.4%, or 9,700 jobs<\/strong>, but has good prospects, thanks to several projects underway. These include Panasonic\u2019s $4 billion plant in De Soto and Meta\u2019s data center in Golden Plains Technology Park.<\/p>\n<p>Developers delivered just 1,932 units in 2022 through October and had an additional 7,247 units underway. <strong>Construction starts dropped to 1,178 units in 2022<\/strong>. Meanwhile, investors traded $1.3 billion in assets\u2014<a href=\"https:\/\/www.yardimatrix.com\/blog\/august-2022-kansas-city-multifamily-market-report\/\"><strong>a new record for the metro<\/strong><\/a>\u2014but quarterly volumes are declining. The price per unit posted a remarkable annual performance, rising by a hefty 49.5%, to $172,682.<\/p>\n<p>Read the full <strong><a href=\"https:\/\/www.yardimatrix.com\/publications\/download\/file\/3215-MatrixMultifamilyKansasCityReport-December2022\">Matrix Multifamily Kansas City Report-December 2022<\/a><\/strong><\/p>\n\n\n<div style=\"height:45px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Limited Supply Keeps Rent Gains Healthy Kansas City\u2019s multifamily market continued to display steady fundamentals, despite national and macroeconomic challenges. With deliveries lagging, rent growth remained above the U.S. rate, rising 0.6% on a trailing three-month basis, to $1,218, but still affordable compared to the $1,727 U.S. figure. The occupancy rate slid by only 10 [&hellip;]<\/p>\n","protected":false},"author":753,"featured_media":5445,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[12,5,4],"tags":[113,444],"class_list":["post-5444","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-metro-reports","category-multifamily-market","category-real-estate-trends","tag-kansas-city","tag-multifamily-outlook-2022"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Kansas City Multifamily Market Report \u2013 December 2022 - Yardi Matrix Blog<\/title>\n<meta name=\"description\" content=\"Kansas City\u2019s rent growth continued well above trend, at 0.6% on a T3 basis through October, according to Yardi Matrix data.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.yardimatrix.com\/blog\/kansas-city-multifamily-market-report-december-2022\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Kansas City Multifamily Market Report \u2013 December 2022\" \/>\n<meta property=\"og:description\" content=\"Kansas City\u2019s rent growth continued well above trend, at 0.6% on a T3 basis through October, according to Yardi Matrix data.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.yardimatrix.com\/blog\/kansas-city-multifamily-market-report-december-2022\/\" \/>\n<meta property=\"og:site_name\" content=\"Yardi Matrix Blog\" \/>\n<meta property=\"article:published_time\" content=\"2023-01-19T11:11:37+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-09-13T04:36:05+00:00\" 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