| | 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 90.8, roughly 9% below the national urban area average of 100.
|
Overall Cost of Living Index
|
|
|
Urban Area
|
Index
|
|
Tulsa, OK
|
87.0
|
|
Indianapolis, IN
|
87.6
|
|
Omaha, NE
|
88.8
|
| Oklahoma City, OK |
89.8 |
| St. Louis, MO-IL |
89.8 |
| Cincinnati, OH |
90.5 |
|
Wichita, KS
|
90.8
|
| Dallas, TX |
91.0 |
| Des Moines, IA |
91.0 |
| Colorado Springs, CO |
92.4 |
| Kansas City, MO-KS |
96.3 |
| National |
100.0 |
| Denver, CO |
104.3 |
| Seattle, WA |
121.7 |
| Orange County, CA |
146.7 |
Source: ACCRA Cost-of-Living Survey (Q3-2009)
National = Average of 315 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 $115,200 in the Fourth Quarter 2009 survey by the National Association of Realtors. Wichita ranked 30th lowest of 152 reporting metro areas; and $57,700 or 33% below the national median price of $172,900.
|
Existing Single-Family Home Median Sales Price
|
|
|
Indianapolis, IN
|
$111,500
|
|
Wichita, KS
|
$115,200
|
|
Cincinnati, OH
|
$125,000
|
|
St Louis, MO-IL
|
$126,800
|
| Omaha, NE |
$130,400 |
| Oklahoma City, OK |
$136,300 |
| Kansas City, MO-KS |
$139,500 |
| Dallas, TX |
$142,100 |
| Des Moines, IA |
$143,400 |
| National |
$172,900 |
| Albuquerque, NM |
$175,600 |
| Colorado Springs, CO |
$189,800 |
| Denver, CO |
$223,200 |
| Seattle, WA |
$305,500 |
| Los Angeles Area, CA |
$352,700 |
Source: National Association of Realtors (Q4-2009)
Newly-built home prices are also quite reasonable. The Q1-2009 median sale price of all newly-built single-family homes in the Wichita metro area was $200,561. That is $6,239 or 3% below the corresponding national figure of $206,800.
Wichita area apartment rent is also very reasonable. Average two-bedroom apartment rent was $646 in the Third Quarter 2009 ACCRA Survey. That is $171 or 21% lower than the national figure of $817.
|
Two-Bedroom Apartment Average Rent
|
|
|
Urban Area
|
Rent
|
|
Des Moines, IA
|
$575
|
|
Tulsa, OK
|
$585
|
|
Wichita, KS
|
$646
|
|
Omaha, NE
|
$681
|
| Dallas, TX |
$697 |
| Oklahoma City, OK |
$707 |
| Cincinnati, OH |
$745 |
| Kansas City, MO-KS |
$745 |
| St. Louis, MO-IL |
$746 |
| Denver, CO |
$774 |
| Indianapolis, IN |
$800 |
| Colorado Springs, CO |
$803 |
| National |
$817 |
| Seattle, WA |
$1,468 |
| Orange County, CA |
$1,647 |
Source: ACCRA Cost-of-Living Survey (Q3-2009)
Unfinished 950 sq. ft., 1 1/2 or 2 bath, stove, refrigerator, water/sewer in rent
National=Average of 315 urban areas
| | |
