Since Last Year, Missouri’s Rent Increases Have Been the Trendiest in The Country. It’s Not Far Behind Kansas!
CNS News– A big reason for the rise in the cost of living is that rents are going up all over the country. But a new report from the rental site Rent.com shows that these price hikes are hitting some states harder than others. For example, Missouri and Kansas have some of the highest prices in the country.
The median rent in Missouri went up by more than 13% between January 2023 and January 2024. This was the biggest rise of any state in the country. The average rent in Kansas went up by almost 9%, which was the sixth-highest increase. The site says that the median rent for all types of rentals in Missouri is now $1,209 per month and in Kansas, it is $1,218 per month.
The site found the state median rents by adding up the median rents in the cities in each state. The numbers also showed how much the median rent went up from one year to the next by metro area. With a rise of 7.4% since January, Kansas City was ranked seventh among the 50 biggest cities in the country. The metro area’s average rent is now $1,644 per month.
Over the last six months, the graph below shows how the median rent in Missouri, Kansas, and Kansas City has changed over time compared to the median rent across the whole country. When you move your mouse over a point on the graph, you can see the average monthly rent for that area.
Missouri leads the nation in rent increases since last year. Kansas isn’t far behind https://t.co/IyzSBhuFya
— The Kansas City Star (@KCStar) February 29, 2024
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Recently, groups working to make housing more affordable, such as the citywide renters’ union KC Tenants, have been pushing for city-level laws that will help lessen the effects of rising housing costs. The City Council banned sources of income discrimination just last month. Supporters of the law hope that this will make more housing available to low-income people with federal Section 8 housing vouchers.
People voted in favor of a bond measure in 2022 that gave $50 million to the city’s housing trust to pay for affordable housing for people making about 30% of the area’s mean income. The goal with this benchmark is to get rents for these cheap units to be between $550 and $700 per month.