Home Values in Kansas City: A Comprehensive Guide
3 min read
Curious about the current value of your Kansas City home? Whether you’re considering selling soon, looking to get rid of PMI, or just interested in the latest housing price trends in your neighborhood, knowing what your home is worth can help shape your future plans.
In this article, we’ll explore home price trends in the City of Fountains, offer tips on how to get a reliable home value estimate, and share simple strategies to boost your home’s value. We’ll also introduce helpful tools to ensure you get the best possible price when it’s time to sell your Kansas City property.
Editor’s note: This post is for educational purposes and is not intended to be construed as financial advice. HomeLight always encourages you to consult your own advisor.
Current home values in Kansas City
Since the summer of 2020, the median home value in Kansas City has increased by 37%. As reported by the Kansas City Regional Association of Realtors, the median home price in June of 2020 was just $230,000. As of June 2024, it’s risen to $315,000.
However, the Kansas City housing market is beginning to shift in favor of buyers, with longer days on market and higher levels of inventory than seen in previous years.
“As interest rates continue to fall, more buyers are able to enter the market and more sellers that were holding on to low interest rates will decide to sell their homes, creating even more inventory,” said Krishon Harris, a Kansas City Realtor with ReeceNichols, in a report by KCtoday.
The table below illustrates how home prices have climbed in the Kansas City region over the last five years:
Year
Median home price
Percent change year-over-year
2024 (June)
$315,000
+ 6.8%
2023
$300,000
0.0%
2022
$300,000
+14.9%
2021
$262,000
+13.9%
2020
$230,000
+4.6%
Source: Kansas City Regional Association of Realtors
This trend is not unique to the City of Fountains, but is instead reflective of a nationwide phenomenon. The S&P CoreLogic Case-Shiller National Home Price Index reveals that home prices across the United States have surged by over 50% since the start of 2020.
Because of this dramatic shift, homeowners across the country have seen substantial gains in their equity, which can be used to upgrade, invest, pay off debts, or even be put toward retirement savings. ICE’s Mortgage Monitor reports that as of early 2024, the average mortgage-holding homeowner now boasts about $299,000 in equity, which is only expected to increase.
For comparison, the table below shows median home prices in cities and suburbs near Kansas City:
City
Median home price
Distance from Kansas City
Merriam, KS
$300,000
14-20 min (10.7 miles)
Lee’s Summit, MO
$393,000
24-36 min (22.1 miles)
Gladstone, MO
$274,500
14-24 min (8.5 miles)
Liberty, MO
$320,000
21-37 min (15.6 miles)
Olathe, KS
$407,500
27-40 min (23.4 miles)
Lenexa, KS
$443,800
18-23 min (16.1 miles)
Blue Springs, MO
$309,500
22-30 min (19.0 miles)
Shawnee, MO
$183,100
15-21 min (10.6 miles)
Leawood, KS
$693,400
22-40 min (13.4 miles)
Overland Park, KS
$444,200
18-28 min (11.7 miles)
Home value averages of multiple public transaction sites
Typical travel times 8 a.m. midweek
In the next section, we’ll guide you through how to estimate the current value of your Kansas City-area home.
