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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 90.9, approximately 9% below the national urban area average of 100.

Overall Cost of Living Index

 

Urban Area

Index

Tulsa, OK

88.3

Omaha, NE

89.4

St. Louis, MO-IL

89.6

Oklahoma City, OK 90.5
Des Moines, IA 90.8
Wichita, KS 90.9

Cincinnati, OH

91.1

Dallas, TX 96.4
Colorado Springs, CO 96.7
National 100.0
Kansas City, MO-KS 100.2
Denver, CO 105.1
Seattle, WA 116.2
Orange County, CA 140.1
Source: ACCRA Cost-of-Living Survey (Q3-2012)
National = Average of 304 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 $123,600 in the Third Quarter 2012 survey by the National Association of Realtors. Wichita ranked 27th lowest of 154 reporting metro areas and $62,500 or 34% below the national median price of $186,100.

Existing Single-Family Home Median Sales Price

 

Wichita, KS

$123,600

St. Louis, MO-IL

$131,300

Indianapolis, IN

$134,000

Cincinnati, OH-KY-IN

$134,400

Omaha, NE $146,100
Kansas City, MO-KS $148,500
Dallas, TX $165,200
Des Moines, IA $165,500
Albuquerque, NM $172,900
National $186,100
Colorado Springs, CO $206,100
Denver, CO $260,300
Los Angeles Area, CA $355,700
Source: National Association of Realtors (Q3-2012)

Newly-built home prices are also quite reasonable. The Q3-2012 average sale price of newly built single-family homes in the Wichita metro area was $231,652. That is $56,293 or 20% below the corresponding national figure of $287,945.

Wichita area apartment rent is also very reasonable. Average two-bedroom apartment rent was $660 in the Third Quarter 2012 ACCRA Survey. That is $221 or 25% lower than the national figure of $881.

Two-Bedroom Apartment Average Rent

 

Urban Area

Rent

Tulsa, OK

$588

Des Moines, IA

$618

Wichita, KS

$660

Omaha, NE

$688

Oklahoma City, OK $742
Dallas, TX $792
St. Louis, MO-IL $795
Kansas City, MO-KS $800
Cincinnati, OH $828
Colorado Springs, CO $879
National $881
Denver, CO $931
Seattle, WA $1,417
Orange County, CA $1,725
Source: ACCRA Cost-of-Living Survey (Q3-2012)
Unfurnished 950 sq. ft., 1 1/2 or 2 bath, stove, refrigerator, water/sewer in rent
National=Average of 306 urban areas
 
Contacts:
Greater Wichita Economic Development Coalition
350 W. Douglas
Wichita, KS 67202-2970
P: (316) 268-1133
info@gwedc.org
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