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Kansas City’s Rent, Wage Gap Growth Over Five Year Period

A data report from Zillow and StreetEasy shows rent growth outpaced wage growth in 44 out of the 50 largest United States metros, including Kansas City.

Posted May 7, 2024

Since 2019, rent in the U.S. has grown 1.5 times faster than wages, according to a new analysis from Zillow and StreetEasy. Rents outpaced wages in 44 U.S. metro areas, including the Kansas City area.

Based on data from the Bureau of Labor Statistics, the analysis, Rents Grow Faster Than Wages Across the US – and NYC Feels the Brunt, found U.S. rents have grown 30.4%, while wages have grown 20.2% since 2019.

The largest gap among large metros was recorded in New York City. The area’s rents grew more than seven times faster than wages. Last year, New York City’s rent growth was 8.6% while the wage growth was 1.2%.

While not among the highest gaps found in U.S. metros, Kansas City, MO experienced rent growth of 6.1% and wage growth of 4.9% in 2023, a percentage point gap of 1.2. Additionally, the Kansas City area had a rent growth of 33.1% and wage growth of 10.1%, from 2019 to 2023

St. Louis rent growth of 5.4% and wage growth of 5.6% in 2023, a percentage point gap of negative 0.2.

The biggest gaps have been in San Francisco, San Jose and Houston, according to Zillow.