Wichita rents increase sharply over the past month, decrease since last year

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Wichita Business Journal Wichita Business Journal

The cost of renting an apartment in Wichita has risen sharply over the last month but decreased slightly in comparison to the same time last year, according to the latest data from rental listing website ApartmentList.

As of April, rents overall were up 0.9% from the previous month for a median price of $560 for a one-bedroom unit and $740 for a two-bedroom, according to ApartmentList. Compared to the same time last year, rents are down 0.1%

"While rent decreases have been occurring in the city of Wichita over the past year, cities in the rest of the state are seeing the opposite trend," the report says. "Rents have risen in 8 of the largest 10 cities in Kansas for which we have data. The state as a whole logged rent growth of 0.8% over the past year."

The data show Wichita has the lowest median rent prices among the 10 cities, with Leawood the most expensive at $1,380 for a two-bedroom apartment.

(Related: Percentage of Wichita residents who rent skyrockets, study says)

Rents have increased the fastest in Shawnee, which has seen a 2.6 percent jump in median rents over the past year, while Manhattan has actually seen a 0.6% decrease year-over-year.

Below is a list of median two-bedroom rents in cities across Kansas' 10 largest cities.

Wichita: $740
Manhattan: $750
Topeka: $780
Kansas City, KS: $910
Lawrence: $930
Shawnee: $1,040
Olathe: $1,050
Lenexa: $1,060
Overland Park: $1,200
Leawood: $1,380

To read the full report, go to apartmentlist.com.

Contributing: KMGH

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