What is the Cost of Living in Kansas City?

Hello again friends! I’m here to talk about my favorite city, Kansas City of course! One of the best things about living in Kansas City is that it is very affordable compared to many other major cities in the US. I will break down several aspects of living in KC, from taxes to transportation to housing prices. I hope you’ll consider making Kansas City your new home!

As always, for a more in-depth review of this topic, check out my YouTube channel!

Comparing KC with Other Cities

One of the best ways to determine a city’s affordability is by comparing it with other cities throughout the US. A great resource that I found is a website called bestplaces.net. There, you can check out cities of all sizes throughout the world.

I decided to compare Kansas City with three major metropolitan areas: Austin, Chicago, and Los Angeles. I started with Austin because it’s one of the fastest-growing cities in the country. Then Chicago, because it’s a well-established major city in the Midwest. Lastly, Los Angeles, because it is widely regarded as one of our country’s most expensive metropolitan areas.

If you currently reside in Kansas City but plan on moving to Austin, you would need to bring in 40% more income to live the same quality of life. That means if you currently make $50,000 a year, you’d need to jump up to $70,000 to live that same lifestyle in Austin.

For Chicago, your income would need to increase by 25%, and for Los Angeles, you would need to increase your earnings by a whopping 100% to live the same lifestyle you currently have! This is what I’m talking about when I say that KC is very affordable.

I encourage you to check out bestplaces.net to compare Kansas City to any other community that you are considering.

Taxes in Kansas City

Taxes aren’t exactly the most exciting topic to discuss, but they can be an important factor when choosing a new home. In Kansas City, the taxes can vary significantly based on the county or suburb where you reside.

According to taxfoundation.org, Jackson County, MO residents pay on average about $2900 a year in taxes. However, if you cross over the state line to Johnson County, KS, you’ll find that taxes are higher. This is especially true in communities like Leawood and Overland Park.

Sales tax is also higher on the Kansas side of the state line. Overland Park’s sales tax is around 9.1% compared to only 8.85% in Kansas City, MO. Overall, the least expensive county for taxes on the Missouri side of the metro area is Cass County. On the Kansas side, Wyandotte County has the lowest tax rates.

Transportation Expenses in Kansas City

If you’ve read some of my past blogs or watched my previous videos, you’ve heard me talk multiple times about how Kansas City’s public transportation is very limited compared to other cities. The Kansas City metro area is very spread out, and the infrastructure just isn’t ideal for public transit.

We do have the KC StreetCar, which covers a two-mile stretch of Downtown KC, and a bus system that covers different parts of the metro area. These can be helpful for some people, but they are not as widely used as public transit systems in other major metropolitan areas.

Basically, you need a car if you’re going to live in KC; so let’s talk about gas prices. Overall, gas prices are incredibly high across the country, but prices in Kansas City are still below the national average. Even two years ago when gas prices were much more reasonable, Kansas City’s gas prices were still lower than many other major cities.

Housing Prices in Kansas City

Just like gas prices, housing prices have gone way up in the last year or so, but Kansas City remains affordable compared to other major US cities. As of May 2021, the median selling price for a house in the Kansas City metro area was $278,000. It’s important to know that housing prices will vary significantly depending on which suburb you live in.

For example, the median selling price for a home in Overland Park, KS is $420,000 compared to Blue Springs, MO where the median selling price is $265,000. As you can see, the price can vary significantly based on the suburb. The Kansas City metro area is considered very affordable on a national scale.

Contact Rach the Realtor Today!

If you are thinking about making Kansas City your next hometown, contact me, Rach the Realtor! I know the entire metro area very well, and together we’ll find an affordable home that’s perfect for you!

Call me at (816) 673-9723 or email me at Rachel.kilmer@reecenichols.com. I can’t wait to help you find your next home!

Ready to make the move? Contact Rach to set up a time to chat about the next steps!