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Housing/Cost of Living

Reasonable overall cost-of-living (particularly moderate housing costs) are a particularly effective personnel recruiting and retention inducement.

Overall Cost-of-Living
Even with its many amenities, Wichita's overall cost-of-living index is a very moderate 90.6, roughly 10% below the national urban area average of 100.

Overall Cost of Living Index

 

Urban Area

Index

Oklahoma, OK

87.4

Omaha, NE

88.2

Wichita, KS

90.6

St. Louis, MO-IL 90.6
Dallas, TX 90.9
Des Moines, IA 91.0

Tulsa, OK

91.4

Cincinnati, OH 91.8
Indianapolis, IN 94.8
Colorado Springs, CO 95.0
Kansas City, MO-KS 96.5
National 100.0
Denver, CO 105.0
Seattle, WA 123.3
Orange County, CA 154.9
Source: ACCRA Cost-of-Living Survey (Q3-2007)
National = Average of 302 participating urban areas
 
 

Housing Costs
Housing is a particular bargain in the Wichita market. The median selling price of existing (previously owned) single-family homes in the Wichita metro area was $118,800 in the third quarter 2007 survey by the National Association of Realtors. Wichita ranked 16th lowest of 151 reporting metro areas; and $102,000 or 46% below the national median price of $220,800
 

Existing Single-Family Home Median Sales Price

 

Wichita, KS

$118,800

Indianapolis, IN

$123,500

Oklahoma City, OK

$130,000

Omaha, NE

$142,800

Cincinnati, OH $145,300
Dallas, TX $146,800
St. Louis, MO-IL $150,500
Des Moines, IA $153,900
Kansas City, MO-KS $157,000
Albuquerque, NM $204,800
National $220,800
Colorado Springs, CO $222,400
Denver, CO $254,100
Seattle, WA $394,700
Los Angeles Area, CA $588,400
Source: National Association of Realtors (Q3 - 2007)
 

Newly-built home prices are also quite reasonable. The 2006 median sale price of all newly-built single-family homes in the Wichita metro area was $170,000. That is $71,600 or 30% below the corresponding national figure of $241,600.

Wichita area apartment rent is also very reasonable. Average two-bedroom apartment rent was $654 in the third quarter 2007 ACCRA Survey. That is $139 or more than 18% lower than the national figure of $793.

Two-Bedroom Apartment Average Rent

 

Urban Areas

Rent

Tulsa, OK

$567

Des Moines, IA

$602

Wichita, KS

$654

Omaha, NE

$676

Oklahoma City, OK $693
Dallas, TX $704
Colorado Springs, CO $729
Cincinnati, OH $742
Kansas City, MO-KS $762
National $793
Denver, CO $820
St. Louis, MO $827
Indianapolis, IN $859
Seattle, WA $1,461
Orange County, CA $1,589
Source: ACCRA Cost-of-Living Survey (Q3 - 2007)
Unfinished 950 sq. ft., 1 1/2 or 2 bath, stove, refrigerator, water/sewer in rent
National=Average of 302 urban areas
 
Contacts:
Sarah Rooker
Greater Wichita Economic Development Coalition
350 W. Douglas
Wichita, KS 67202-2970
P: (316) 268-1133
info@gwedc.org
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