The Kansas City Report 2024
This year’s report will bring you up to speed on 8 major projects contributing to the exciting growth unfolding across the region.
Download the full report and you’ll see why we think these projects will make big waves throughout the region for decades to come.
In last year’s Kansas City Report, we highlighted the progress of landmark projects across the metro and shared, “Markets like Kansas City are poised for growth, and we are bullish on the potential for a bright future in our hometown.”
Well…. it’s here, and we have to confess, it’s unfolding sooner and faster than anyone anticipated.
From the opening of the $1 billion new airport, to exciting construction progress on the Streetcar Expansion and the Panasonic Battery Plant, to continued milestones on other major projects, the visible signs are bright and flashing.
Our team has heard from national real estate investors eager to invest in the Kansas City region and businesses expanding into our market. Of course, no discourse on Kansas City’s increasing popularity is complete without a nod to our beloved Kansas City Chiefs and our newest resident, proud Kansas Citian Taylor Swift!
Our market has consistently navigated economic headwinds relatively well with a community that continues to offer an excellent cost of living, quality housing options, and a well-educated, diverse workforce.
It’s not only the big projects garnering attention. The data is starting to mirror Kansas City’s strong trajectory:
2nd Fastest-growing Economy
Kansas City ranked as the second fastest-growing economy in the Midwest; nationally, Kansas City ranked 15 amongst the 50 most populous metros.
KC Business Journal via U.S. Bureau of Economic Analysis, December 2023
Kansas Economic Growth was #1 in the Nation Q3 2023
The Kansas economy grew by 9.7% in Q3 of 2023—the fastest rate in the nation. This follows Q2 growth of 7.4%, which was the second-fastest rate in the nation.
State of Kansas, December 2023
#2 Top Market to Watch
RentCafe named Kansas City #2 on its, “Top Market to Watch in 2024.” Overland Park ranked #10, making Kansas City the only MSA in the country with 2 of the top 10 markets. As multi-family rents have begun to recede nationally in the past year, Kansas City continues to experience increased demand and rising rents.
RentCafe Rental Activity Report, January 2024