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
 
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