Insights
Kansas
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VACANCY
Apartment
The average Vacancy Rate was 6.0% in the Kansas City metro
- No vacancy change since Q2 2024 in the Kansas City metro.
- The Kansas City metro had the highest vacancy level since year-end 2011.
- Vacancy is expected to finish 2024 at 6.1% in the Kansas City metro.
Distribution / Warehousing
The average Vacancy Rate was 5.2% in the Kansas City metro
- No vacancy change since Q2 2024 in the Kansas City metro.
- The Kansas City metro had the highest vacancy level since Q2 2022.
- Vacancy is expected to finish 2024 at 5.1% in the Kansas City metro.
Flex / R&D
The average Vacancy Rate was 6.6% in the Kansas City metro
- Vacancy in the Kansas City metro declined by 90 basis points.
- The Kansas City metro was among the 20 highest vacancies nationally.
- Vacancy is expected to finish 2024 at 6.5% in the Kansas City metro.
Office
The average Vacancy Rate was 17.0% in the Kansas City metro
- Vacancy in the Kansas City metro declined by 70 basis points.
- The Kansas City metro was among the 20 lowest vacancies nationally.
- Vacancy is expected to finish 2024 at 17.2% in the Kansas City metro.
Retail
The average Vacancy Rate was 11.2% in the Kansas City metro
- Vacancy in the Kansas City metro drifted downward by 20 basis points.
- The Kansas City metro had the lowest vacancy level since Q2 2017.
- Vacancy is expected to finish 2024 at 11.0% in the Kansas City metro.
RENT
Apartment
The average Asking Rent was $1,204 in the Kansas City metro
- Rent in the Kansas City metro was up 0.6% from Q2 2024.
- Rent is expected to finish 2024 at $1,208 in the Kansas City metro.
Distribution / Warehousing
The average Asking Rent was $4.77 in the Kansas City metro
- Rent in the Kansas City metro was up 0.8% from Q2 2024.
- Rent has risen in every quarter since Q1 2021 in the Kansas City metro.
- Rent is expected to finish 2024 at $4.81 in the Kansas City metro.
Flex / R&D
The average Asking Rent was $8.51 in the Kansas City metro
- Rent in the Kansas City metro was up 0.6% from Q2 2024.
- Rent has risen in every quarter since Q2 2020 in the Kansas City metro.
- Rent is expected to finish 2024 at $8.57 in the Kansas City metro.
Office
The average Asking Rent was $23.31 in the Kansas City metro
- The Kansas City metro remained flat rent since Q2 2024.
- Rent is expected to finish 2024 at $23.43 in the Kansas City metro.
Retail
The average Asking Rent was $14.75 in the Kansas City metro
- The Kansas City metro had the fastest rent growth in the Midwest region, third most rapid in the nation.
- Kansas City metro had its fastest rent rate of increase since Q3 2015.
- Rent is expected to finish 2024 at $14.84 in the Kansas City metro.
VACANCY
Apartment
The average Vacancy Rate was 3.3% in the Wichita metro
- The Wichita metro had the eighth lowest vacancy in the nation, and the second in the Midwest region, behind only Detroit.
- Vacancy in the Wichita metro drifted upward by 40 basis points.
- Vacancy is expected to finish 2024 at 3.4% in the Wichita metro.
Distribution / Warehousing
The average Vacancy Rate was 6.2% in the Wichita metro
- Vacancy in the Wichita metro fell by 100 basis points.
- The Wichita metro had the lowest vacancy level since Q1 2017.
- Vacancy is expected to finish 2024 at 5.9% in the Wichita metro.
Office
The average Vacancy Rate was 15.4% in the Wichita metro
- The Wichita metro had the ninth lowest vacancy in the nation, and the second in the Midwest region, behind only Omaha.
- No vacancy change since Q2 2024 in the Wichita metro.
- The Wichita metro had the lowest vacancy level since Q1 2007.
Retail
The average Vacancy Rate was 14.6% in the Wichita metro
- No vacancy change since Q2 2024 in the Wichita metro.
- The Wichita metro was among the 10 highest vacancies nationally.
- Vacancy is expected to finish 2024 at 14.3% in the Wichita metro.
RENT
Apartment
The average Asking Rent was $847 in the Wichita metro
- Rent in the Wichita metro was up 0.8% from Q2 2024.
- Rent Has risen for six consecutive quarters in the Wichita metro.
- Rent is expected to finish 2024 at $854 in the Wichita metro.
Distribution / Warehousing
The average Asking Rent was $7.60 in the Wichita metro
- Rent in the Wichita metro was up 0.4% from Q2 2024.
- Rent Has risen for nine consecutive quarters in the Wichita metro.
- Rent is expected to finish 2024 at $7.66 in the Wichita metro.
Office
The average Asking Rent was $15.66 in the Wichita metro
- The Wichita metro remained flat rent since Q2 2024.
- Rent is expected to finish 2024 at $15.72 in the Wichita metro.
Retail
The average Asking Rent was $12.73 in the Wichita metro
- Rent in the Wichita metro was up 0.2% from Q2 2024.
- Rent is expected to finish 2024 at $12.77 in the Wichita metro.