Market Insights

August 1, 2024

What's The Average Rent In Wichita, KS

Zoe Harper

Marketing

In Wichita, KS, finding a place to live is both affordable and varied. The average monthly rent is $785. This is much cheaper than the national average of $1,535, showing how cost-effective Wichita is¹. The city offers many apartment sizes, with the average being around 668 square feet. This means there's something for everyone, no matter what you're looking for¹.

Last year, rent went up by 2.9%, or about $23 more each month¹. Most of the rental options, about 73%, are under $1,000 a month. A lot are even cheaper, costing less than $700 a month¹. To live comfortably without spending more than 30% of your income on rent, you should make around $31,392 a year¹.

If you're searching for a great place to rent, think about getting in touch with well-known property management companies. Companies like Monarch Investment and Management Group or Post Road Management can help find you a great apartment.

Key Takeaways

The average rent in Wichita, KS is $785 per month¹.
Apartments average around 668 square feet in size¹.
Rent prices have seen a 2.9% increase over the past year¹.
73% of rentals in Wichita are priced below $1,000/month¹.
Recommended annual income to afford average rent is approximately $31,392¹.

Introduction to Wichita's Rental Market

Wichita's rental market has a lot to offer, with many housing options for different budgets. Living costs here are 34.3 percent cheaper than the national average. This makes renting in Wichita very appealing for people and families². The rental market keeps growing because of the economy, new buildings, and changes in who is moving there.

Rents in Wichita are going up. The price for a one-bedroom apartment increased by 15 percent to $800. Two-bedroom places went up 12 percent to $964². This shows how demand is rising but there aren't enough places for everyone.

Wichita has all kinds of rental homes, from small studios to big three-bedroom places. Eastridge has many affordable options. Delano, however, has more expensive homes. This means you can find something that matches your budget and how you want to live.

It's smart to use a tool to see how much rent you can afford. Think about all living costs, too. For example, utility bills are cheaper here by 2.1 percent². The apartment market is doing well, with positive growth seen in the last six quarters³.

Wichia is also going through a lot of new construction and making downtown better. These changes make more people want to live here. New big projects, like the $1.8 billion semiconductor plant in Bel Aire, will make the economy even stronger³ ⁴.

In the end, the Wichita rental market is affordable and has lots of different places to live. With the economy growing and new buildings going up, the market keeps getting better. This makes Wichita a great place to rent.

Overall Average Rent in Wichita, KS

The current rent in Wichita helps people save money⁵.It is cheaper than the national average, with an overall rent of $937 a month⁵. This is much less than the U.S. median of $1,535 a month⁵.Living in Wichita is more affordable than in many other places⁶. Essential expenses here are lower than the national average. This makes Wichita a cost-effective place to live⁶.

Wichita's housing market has something for everyone⁵. For instance, studio apartments average $400 a month, which is great for those on a budget⁵. One-bedroom places go for about $800 a month, offering a good balance of price and space⁵.The cost increases with the size of the apartment. Two-bedrooms are around $937, and three-bedrooms near $1,200 a month⁵.

Even the larger four-bedroom apartments are reasonably priced at $1,600 a month⁵. In Wichita, 35.46% of homes are rented, showing a strong rental market⁶. This proves Wichita is committed to keeping living affordable for everyone.

Studio Apartment Rentals in Wichita, KS

Wichita is great for folks looking for small, affordable places to live. The average rent for a studio is $592, and they are about 430 square feet big. You can find different prices and sizes based on your budget¹.

Average Rent and Size

Living in small apartments in Wichita can vary in cost. In places like Eastridge, the rent for studios starts at $426 a month¹. But in fancier spots like Delano, they can go up to $1,234 a month¹. This means there’s something for everyone, no matter what you can afford while living in the city¹.

One-Bedroom Apartment Rentals in Wichita, KS

In Wichita, the standard cost for a one-bedroom apartment is about $785¹ a month. Each of these apartments usually covers 668 square feet. This size is just right for those looking for a cozy bedroom separate from their living space¹.

Lately, the rent in Wichita went up by 2.9%, making it $23 more expensive each month¹. Despite this rise, Wichita remains an affordable place to live when compared to many other cities. Most one-bedroom units fall in the $700 to $900 price range. This makes comfortable living accessible without going over budget⁷.

Looking for budget-friendly living? Neighborhoods like Eastridge, Sunflower, and Southeast Wichita are your best bet¹. On the other end, Delano, Glen, and Downtown Wichita are among the priciest areas. They offer premium amenities but at a higher cost¹.

Many places in Wichita also provide special deals, such as a month of rent for free or up to $280 off. These deals make one-bedroom apartments even more appealing⁷. Check out Apartments.com to find the latest offers and available apartments.

To comfortably afford an apartment in Wichita, you should make around $31,392 a year. This earning will help you live well, considering the average rental costs and living expenses in the city¹.

Two-Bedroom Apartment Rentals in Wichita, KS

Families and individuals looking for more space might look into two-bedroom apartments in Wichita. These are usually priced around $981 every month as of July 2024¹. The average size is 799 square feet¹, providing plenty of room for those needing more space.

Rent Prices and Sizes

The Wichita rental market has a wide range of prices for two-bedroom places. The middle price for a two-bedroom apartment in Wichita, KS, is $1,034, just above the average⁸. Rent in Wichita went up by 2.9% last year, about $23 more each month¹. Yet, 37% of the two-bedroom rentals in Wichita cost less than $700 a month. This helps keep options open for many¹. In the first half of 2024, rent in Wichita grew by 3.7%. This was slower compared to the same time in 2023⁸.

Neighborhood Variations

Rent prices can vary a lot depending on the area of Wichita. High-demand neighborhoods like Delano and Glen have rents at about $1,932 and $1,500 monthly¹. But, areas like Eastridge, Sunflower, and Southeast Wichita offer more wallet-friendly options for families¹. The cost of two-bedroom apartments in these areas is much lower compared to the more expensive neighborhoods. This highlights the price range within the spacious Wichita rental market.

The average rent for a two-bedroom apartment might seem doable, but it really depends on the neighborhood. It's important for renters to look into these cost differences. Some areas, like Delano, might have two-bedroom apartments for as much as $1,932. This shows how varied Wichita's rental scene can be¹ ⁸.

Three-Bedroom Apartment Rentals in Wichita, KS

Looking for a bigger place? Wichita has three-bedroom apartments that are perfect for families. These units combine space and affordability. As you look, think about what you're willing to spend and how much room you need.

Rental Costs

Renting a three-bedroom place in Wichita can cost between $895 and $2,380. This range means lots of choices for different budgets⁹. Most are priced from $1,000 to $1,500. This makes it easier for families or roommates to find something affordable⁹. You'll find apartments with cool features like air conditioning and dishwashers. Some even welcome pets and come furnished⁹. Check out more about these places⁹.

Size Considerations

Three-bedroom apartments in Wichita offer the space many are looking for. They're great for families or friends sharing a home. The starting price for these larger apartments is about $1,221¹. Wichita also has places that fit all budgets, from more affordable areas to upscale neighborhoods¹.

The average cost is around $1,008. This means Wichita's prices are quite a bit lower than other places in the country, by about 28.6%⁸. When choosing, consider both the size and cost. Wichita has lots of neighborhoods to explore, offering a good balance of space and price. The city's rental market is diverse, ensuring everyone finds the right spot at the right price.

Rent Ranges in Wichita, KS

Looking at Wichita's rent prices shows a lot of reasonable choices. We see that 37% of apartments cost less than $700 a month. Another 36% charge between $700 and $1,000. This highlights Wichita's affordable living costs¹.

Only 24% of the city's rentals are priced from $1,001 to $1,500. And a tiny 2% fall in the $1,501 to $2,000 bracket. There are no homes listed over $2,000 in Wichita¹.

A closer look tells us that budget-friendly housing in Wichita draws in those watching their spending. For 1-2 bedroom homes, the average rent is between $785 and $919. Most of these places ask for $900 to $919¹.

Homes with laundry inside are in big demand, making up 85% of the market¹⁰. Air conditioning is also quite common, seen in 70% of the places¹⁰.

About half the homes offer balconies¹⁰. Around 45% provide laundry facilities on-site¹⁰. Garage parking comes with about 25% of them¹⁰.

Regarding perks, some homes have pools and gyms, available in 20% and 10% of listings respectively¹⁰. This mix of benefits, combined with the attractive rent prices, makes Wichita a great place for many people to live.

What's The Average Rent In Wichita, KS By Neighborhood

Exploring Wichita's rent by neighborhood shows vast differences. It highlights affordable places and areas that offer a premium lifestyle. Eastridge, Southeast Wichita, and Sunflower are notably affordable. Studios there rent for around $426 monthly¹. These areas are great for anyone looking for economical living options.

In contrast, neighborhoods like Delano and Glen have higher rents. This shows the upscale living they provide. A studio in Delano, for example, rents for about $1,234 monthly¹. It reflects the high-quality amenities and lifestyle in these areas.

Wichita's rental trends show a mix of affordability and luxury. The city caters to various budgets and lifestyles. The average rent in Wichita is $785 per month. There’s a wide range of options, with 37% of rentals under $700/month and 36% between $700 to $1,000/month¹. This shows the diverse choices for renters.

To live comfortably in Wichita, you'd need an income of roughly $2,616 a month or $31,392 a year. This is based on the city's average rent¹. Wichita offers a good mix of inexpensive and pricier neighborhoods. This makes it an attractive place for many people.

Comparing Wichita's Rent with Nearby Cities

Looking at rent comparison Wichita against nearby cities shows Wichita has an edge. Compared to places like Tulsa, OK, and Fort Wayne, IN, living in Wichita costs less. Not just in rent, but in other expenses like healthcare and utilities, making Wichita a great choice.

Neighboring Cities and Their Rent

Wichita's median rent is 28.6% lower than the national average. In comparison, Kansas City, KS’s cost of living is 44% higher¹¹. Wichita stands out as a more affordable option for many.

Cost of Living Comparison

A regional rent analysis Wichita shows it's not just about low rent. The overall cost of living is also lower than in many nearby cities. Wichita offers varied housing options to match everyone's needs and budget¹².

Understanding surrounding cities rental costs reveals Wichita's advantages. It offers great rent prices, a manageable cost of living, and strong jobs. Add a lively cultural scene, and Wichita becomes even more inviting¹².

For detailed info on the best areas, amenities, and living standards in Wichita, check out affordable neighborhoods in Wichita blog¹².

Trends and Changes in Wichita's Rental Market

In the last year, the Wichita rental market has seen important trends. Rent prices have gone up by 1.0%. This shows a stable yet slight growth in Wichita's housing¹³. Even though it's a bit slower than the state's average, it's growing steadily.

Year-Over-Year Changes

Rent prices from January to June rose by 3.7% in 2024. This shows how the rent in Wichita is changing over time¹⁴. It reflects the broader economic factors and a growing demand for housing.

Monthly Growth Rates

Even with a growth rate that's a bit lower than the state's, Wichita's rental market is healthy and growing. For example, the median listing price for homes was $279.9K, up by 1.8% from the previous year¹³. This shows that as home prices go up, so do rental prices.

As of February 2024, there were 200 properties for sale. The median home price reached $279.9K in February 2024¹³. This highlights how sales and rental prices are linked.

Wichita's rental market is adapting to economic changes. It offers a variety of rentals like apartments, houses, and condos/townhomes. For a detailed look at finding and understanding rentals in Wichita, check out this complete guide.

Conclusion

In conclusion, Wichita offers a range of affordable homes for different budgets and ways of life. Rent prices went up a little, just by 1 percent to $652, in 2020¹⁵. This makes Wichita a budget-friendly option for a lot of renters. The city is also ready to welcome more people with 1,125 new homes needed¹⁵. This is because they're building to meet this growing need.

Wichita's empty homes are becoming fewer, with the vacancy rate dropping to 9.2 percent¹⁵. Back in April 2010, it was 10.4 percent. This shows the rental market is getting better. It's becoming a good choice for those looking for a bargain. Plus, Zillow Group says Wichita's mid-range rent makes living there affordable¹⁶. This helps make the city inviting for people looking to rent.

Renters should keep up with market trends and talk to experts about insurance and financial planning. This helps ensure a happy and balanced life. With a tight market for buying homes and constant demand for new ones¹⁵, Wichita remains a sought-after place. These insights highlight why Wichita is great for meeting different housing needs, while also offering a high quality of life.

FAQ

What's the average rent in Wichita, KS?

In July 2024, the average rent in Wichita, KS, was $785 a month.

How does Wichita's rent compare to the national average?

At $785, Wichita's average rent is 49% lower than the national average of $1,535.

What is the rental trend in Wichita over the past year?

Wichita's rent went up by 2.9% over the past year. This means the average monthly rent increased by $23.

What percentage of rentals in Wichita are priced below $1,000 per month?

A big 73% of Wichita rentals cost less than $1,000 each month.

What is the advised salary to afford the average rent in Wichita?

To comfortably afford $785 rent, you should earn about $31,392 a year. This keeps housing under 30% of your income.

What are the recommended property management companies in Wichita?

Monarch Investment and Management Group and Post Road Management are top picks in Wichita.

What is the size of the average apartment in Wichita?

The average size of an apartment in Wichita is 668 square feet.

What is the rent range for studio apartments in Wichita?

The average studio apartment in Wichita costs $592 a month. They are typically around 430 square feet. Some places like Eastridge have studios as low as $426/month.

How much does it cost to rent a one-bedroom apartment in Wichita?

A one-bedroom apartment in Wichita costs about $785 a month.

What is the typical rent for a two-bedroom apartment in Wichita?

Renting a two-bedroom apartment in Wichita usually costs $981 a month.

How do rent prices vary across different neighborhoods in Wichita for two-bedroom apartments?

Two-bedroom apartment rents differ by neighborhood. For example, Delano is pricier with rents above $1,618, while the city average is $981.

What are the rental costs for a three-bedroom apartment in Wichita?

Three-bedroom apartments in Wichita start at $1,221 monthly.

How do three-bedroom apartments in Wichita cater to space needs?

Three-bedroom apartments in Wichita offer enough room for families or roommates. They balance space and cost well.

What is the rent range for apartments in Wichita?

In Wichita, 37% of apartments rent for less than $700/month. Another 36% range from $700 to $1,000/month. This makes it a good market for those watching their budgets.