{"id":8219,"date":"2024-09-10T08:04:00","date_gmt":"2024-09-10T08:04:00","guid":{"rendered":"https:\/\/www.yardimatrix.com\/blog\/?p=8219"},"modified":"2025-01-09T08:11:40","modified_gmt":"2025-01-09T08:11:40","slug":"kansas-city-multifamily-market-report-august-2024","status":"publish","type":"post","link":"https:\/\/www.yardimatrix.com\/blog\/kansas-city-multifamily-market-report-august-2024\/","title":{"rendered":"Kansas City Multifamily Market Report \u2013 August 2024"},"content":{"rendered":"\n<p class=\"has-normal-font-size\">Read the latest Yardi Matrix <a href=\"\/blog\/kansas-city-multifamily-market-report\/\"><strong>Kansas City Multifamily Market Report<\/strong><\/a><\/p>\n\n\n<hr \/>\n<h2>Advertised Rents Improve, New Development Wanes<\/h2>\n<p>Kansas City\u2019s multifamily market posted a healthy performance during the first half of 2024, surpassing the metro\u2019s Sun Belt counterparts. The average advertised asking rent picked up the pace during the second quarter, up 0.6% on a trailing three-month basis through June, to $1,292. That was double the national pace of growth, which brought the U.S. figure to $1,739, according to the latest <a href=\"\/blog\/national-multifamily-market-report\/\" rel=\"\"><strong>national report<\/strong><\/a>. Meanwhile, Kansas City occupancy marked a 100-basis-point decline year-over-year through May, decreasing from 95.0%, to 94.3%.<\/p>\n<p><iframe id=\"datawrapper-chart-2z8kP\" style=\"width: 0; min-width: 100% !important; border: none;\" title=\"Kansas City vs. National Rent Growth\" src=\"https:\/\/datawrapper.dwcdn.net\/2z8kP\/1\/\" height=\"321\" frameborder=\"0\" scrolling=\"no\" aria-label=\"Interactive line chart\" data-external=\"1\"><\/iframe><script type=\"text\/javascript\">!function(){\"use strict\";window.addEventListener(\"message\",(function(a){if(void 0!==a.data[\"datawrapper-height\"]){var e=document.querySelectorAll(\"iframe\");for(var t in a.data[\"datawrapper-height\"])for(var r=0;r<e.length;r++)if(e[r].contentWindow===a.source){var i=a.data[\"datawrapper-height\"][t]+\"px\";e[r].style.height=i}}}))}();\n<\/script><\/p>\n<p>Kansas City added 19,100 net jobs in the 12 months ending in April, for a 1.2% expansion. Unemployment stood at 3.5% in May, outperforming the national rate by 50 basis points. Three sectors contracted for 4,900 jobs combined\u2014professional and business services, information and construction. Gains were led by education and health services (8,200 jobs) and government (5,200 jobs). Several billion-dollar projects are underway in the metro, including the $2 billion redevelopment of Brookridge in Overland Park and the AdventHealth Sports Park at Bluhawk.<\/p>\n<p><iframe id=\"datawrapper-chart-bXw16\" style=\"width: 0; min-width: 100% !important; border: none;\" title=\"Kansas City Employment Share by Sector\" src=\"https:\/\/datawrapper.dwcdn.net\/bXw16\/1\/\" height=\"423\" frameborder=\"0\" scrolling=\"no\" aria-label=\"Table\" data-external=\"1\"><\/iframe><script type=\"text\/javascript\">!function(){\"use strict\";window.addEventListener(\"message\",(function(a){if(void 0!==a.data[\"datawrapper-height\"]){var e=document.querySelectorAll(\"iframe\");for(var t in a.data[\"datawrapper-height\"])for(var r=0;r<e.length;r++)if(e[r].contentWindow===a.source){var i=a.data[\"datawrapper-height\"][t]+\"px\";e[r].style.height=i}}}))}();\n<\/script><\/p>\n<p>During the first six months of 2024, developers delivered 1,134 units. While another 7,919 units were underway in June, the volume of new projects is dropping. Investment is also lagging, with just $71 million in multifamily assets trading during the first half, for a price per unit that decreased slightly, to $120,402.<\/p>\n<p>Read the full Yardi Matrix Kansas City Multifamily Market Report <a href=\"\/publications\/download\/file\/6076-MatrixMultifamilyKansasCityReport-August2024\" rel=\"\"><strong>August 2024<\/strong><\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Advertised Rents Improve, New Development Wanes Kansas City\u2019s multifamily market posted a healthy performance during the first half of 2024, surpassing the metro\u2019s Sun Belt counterparts. The average advertised asking rent picked up the pace during the second quarter, up 0.6% on a trailing three-month basis through June, to $1,292. That was double the national [&hellip;]<\/p>\n","protected":false},"author":436,"featured_media":7824,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[12,5,4],"tags":[113,511],"class_list":["post-8219","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-2024"],"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 August 2024 - Yardi Matrix Blog<\/title>\n<meta name=\"description\" content=\"Kansas City\u2019s average advertised asking rents picked up again during the second quarter, rising 0.6 percent, Yardi Matrix reports.\" \/>\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-august-2024\/\" \/>\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 August 2024\" \/>\n<meta property=\"og:description\" content=\"Kansas City\u2019s average advertised asking rents picked up again during the second quarter, rising 0.6 percent, Yardi Matrix reports.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.yardimatrix.com\/blog\/kansas-city-multifamily-market-report-august-2024\/\" \/>\n<meta property=\"og:site_name\" content=\"Yardi Matrix Blog\" \/>\n<meta property=\"article:published_time\" content=\"2024-09-10T08:04:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-01-09T08:11:40+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2024\/04\/Kansas-City-iStock-2162128989.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"628\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Adina Rogoz\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Anca Gagiuc\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Kansas City Multifamily Market Report \u2013 August 2024 - Yardi Matrix Blog","description":"Kansas City\u2019s average advertised asking rents picked up again during the second quarter, rising 0.6 percent, Yardi Matrix reports.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.yardimatrix.com\/blog\/kansas-city-multifamily-market-report-august-2024\/","og_locale":"en_US","og_type":"article","og_title":"Kansas City Multifamily Market Report \u2013 August 2024","og_description":"Kansas City\u2019s average advertised asking rents picked up again during the second quarter, rising 0.6 percent, Yardi Matrix reports.","og_url":"https:\/\/www.yardimatrix.com\/blog\/kansas-city-multifamily-market-report-august-2024\/","og_site_name":"Yardi Matrix Blog","article_published_time":"2024-09-10T08:04:00+00:00","article_modified_time":"2025-01-09T08:11:40+00:00","og_image":[{"width":1200,"height":628,"url":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2024\/04\/Kansas-City-iStock-2162128989.jpg","type":"image\/jpeg"}],"author":"Adina Rogoz","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Anca Gagiuc","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.yardimatrix.com\/blog\/kansas-city-multifamily-market-report-august-2024\/#article","isPartOf":{"@id":"https:\/\/www.yardimatrix.com\/blog\/kansas-city-multifamily-market-report-august-2024\/"},"author":{"name":"Adina Rogoz","@id":"https:\/\/www.yardimatrix.com\/blog\/#\/schema\/person\/1e376ba4add70694b922380ddbe946d8"},"headline":"Kansas City Multifamily Market Report \u2013 August 2024","datePublished":"2024-09-10T08:04:00+00:00","dateModified":"2025-01-09T08:11:40+00:00","mainEntityOfPage":{"@id":"https:\/\/www.yardimatrix.com\/blog\/kansas-city-multifamily-market-report-august-2024\/"},"wordCount":223,"commentCount":0,"publisher":{"@id":"https:\/\/www.yardimatrix.com\/blog\/#organization"},"image":{"@id":"https:\/\/www.yardimatrix.com\/blog\/kansas-city-multifamily-market-report-august-2024\/#primaryimage"},"thumbnailUrl":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2024\/04\/Kansas-City-iStock-2162128989.jpg","keywords":["Kansas City","Multifamily Outlook 2024"],"articleSection":["Metro Reports","Multifamily Market","Real Estate Trends"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.yardimatrix.com\/blog\/kansas-city-multifamily-market-report-august-2024\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.yardimatrix.com\/blog\/kansas-city-multifamily-market-report-august-2024\/","url":"https:\/\/www.yardimatrix.com\/blog\/kansas-city-multifamily-market-report-august-2024\/","name":"Kansas City Multifamily Market Report \u2013 August 2024 - Yardi Matrix Blog","isPartOf":{"@id":"https:\/\/www.yardimatrix.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.yardimatrix.com\/blog\/kansas-city-multifamily-market-report-august-2024\/#primaryimage"},"image":{"@id":"https:\/\/www.yardimatrix.com\/blog\/kansas-city-multifamily-market-report-august-2024\/#primaryimage"},"thumbnailUrl":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2024\/04\/Kansas-City-iStock-2162128989.jpg","datePublished":"2024-09-10T08:04:00+00:00","dateModified":"2025-01-09T08:11:40+00:00","description":"Kansas City\u2019s average advertised asking rents picked up again during the second quarter, rising 0.6 percent, Yardi Matrix reports.","breadcrumb":{"@id":"https:\/\/www.yardimatrix.com\/blog\/kansas-city-multifamily-market-report-august-2024\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.yardimatrix.com\/blog\/kansas-city-multifamily-market-report-august-2024\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.yardimatrix.com\/blog\/kansas-city-multifamily-market-report-august-2024\/#primaryimage","url":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2024\/04\/Kansas-City-iStock-2162128989.jpg","contentUrl":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2024\/04\/Kansas-City-iStock-2162128989.jpg","width":1200,"height":628,"caption":"Photo by franckreporter\/iStockphoto.com"},{"@type":"BreadcrumbList","@id":"https:\/\/www.yardimatrix.com\/blog\/kansas-city-multifamily-market-report-august-2024\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.yardimatrix.com\/blog\/"},{"@type":"ListItem","position":2,"name":"Kansas City Multifamily Market Report \u2013 August 2024"}]},{"@type":"WebSite","@id":"https:\/\/www.yardimatrix.com\/blog\/#website","url":"https:\/\/www.yardimatrix.com\/blog\/","name":"Yardi Matrix Blog","description":"Stay current with the latest commercial real estate market trends and forecasts","publisher":{"@id":"https:\/\/www.yardimatrix.com\/blog\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.yardimatrix.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.yardimatrix.com\/blog\/#organization","name":"Yardi Matrix","url":"https:\/\/www.yardimatrix.com\/blog\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.yardimatrix.com\/blog\/#\/schema\/logo\/image\/","url":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2020\/11\/Inline_Matrix_Color_es-1.jpg","contentUrl":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2020\/11\/Inline_Matrix_Color_es-1.jpg","width":200,"height":39,"caption":"Yardi Matrix"},"image":{"@id":"https:\/\/www.yardimatrix.com\/blog\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.linkedin.com\/company\/yardi-matrix\/","https:\/\/www.youtube.com\/channel\/UCRHgAZL4YoyeNEdiRN5uj0g"]},{"@type":"Person","@id":"https:\/\/www.yardimatrix.com\/blog\/#\/schema\/person\/1e376ba4add70694b922380ddbe946d8","name":"Adina Rogoz","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.yardimatrix.com\/blog\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/7708bca9e09cc5676d0f96a14b833143f233709c6888184035d1e1f75c05fabb?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/7708bca9e09cc5676d0f96a14b833143f233709c6888184035d1e1f75c05fabb?s=96&d=mm&r=g","caption":"Adina Rogoz"},"description":"Adina Rogoz is a Senior Associate Editor with Commercial Property Executive and Multi-Housing News. She joined the CPE-MHN team in 2016 and is writing real estate related news, blog articles, reports and Q&amp;As. \ud83d\udce7 You can reach out to her at adina.rogoz@cpe-mhn.com","url":""}]}},"jetpack_featured_media_url":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2024\/04\/Kansas-City-iStock-2162128989.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/posts\/8219","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/users\/436"}],"replies":[{"embeddable":true,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/comments?post=8219"}],"version-history":[{"count":1,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/posts\/8219\/revisions"}],"predecessor-version":[{"id":8223,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/posts\/8219\/revisions\/8223"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/media\/7824"}],"wp:attachment":[{"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/media?parent=8219"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/categories?post=8219"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/tags?post=8219"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}