-->

Study: Missouri Rents Grew More Than Any Other State in Midwest

Posted March 5, 2024

Missouri's asking rent increased by 13.18 percent, larger than any other state in the Midwest and nationally, according to Rent.com.

A study from Rent.com shows Kansas City rent prices have increased more than 7 percent year-over-year and Missouri’s rent growth leads nationally.

From January 2023 to January 2024, rent prices rose by 1.13 percent, from $1,942 to $1,964. However, the country experienced the largest growth in rent prices in the Midwest and Northeast regions, according to the study. Midwest rental prices rose from $1,373 to $1,437, or 4.6 percent, year-over-year, the largest regional increase in the study.

Kansas City, MO., experienced a year-over-year change of 7.42 percent with a median rent of $1,644. Kansas City, in terms of rent price, compared well against other metro areas such as Milwaukee, WI; Columbus, OH; Cincinnati, OH; New Orleans, LA and Detroit, MI. However, the Kansas City metro held the seventh highest year-over-year change when compared to other metros in the country.

Missouri rents increased by 13.18 percent in January, the largest yearly percentage change among all states and states in the Midwest. The median rent in the state is $1,209.

In Kansas, rent prices increased by 8.74 percent. The median rent for Kansas is $1,218.

The highest rent asking price is $4,112 in New York, NY and the cheapest is $1,179 in Oklahoma City, OK.