Average rent in Lee’s Summit

Average rent in Lee’s Summit,MO

Lee’s Summit, MO is a rapidly growing city with a lot of appeal for renters. Firstly, it is important to note that the average rent for a one-bedroom apartment in Lee’s Summit, MO in 2023 is expected to be $1,200 per month. Secondly, it is important to consider the significant increase in rent when comparing current rates to previous years. Specifically, in 2021, the average rent for a one-bedroom was $1,000 and in 2022, it rose to $1,100 per month. This substantial upward trend puts Lee’s Summit, MO on an upward trajectory that prospective renters must take into account. Finally, with new businesses and housing developments being built in the area, it is likely that the demand for housing in Lee’s Summit, MO will continue to rise, making affordability a key factor to consider when looking to rent a place in this city.

Average rent in Lee’s Summit,MO for 1-bedroom

Lee’s Summit, MO is a beautiful city with a growing population. The average rent for a 1-bedroom apartment is expected to increase steadily in the upcoming years. In 2023, the average rent is projected to be around $1,200 per month, which is significantly higher than the previous years. In comparison to 2019 when the average rent was $950 per month, the rent has increased by 26% over the years. Moreover, in 2020 and 2021, the average rent was $1,050 and $1,100 respectively, which shows a consistent upward trend. Therefore, it is safe to say that renting in Lee’s Summit, MO is becoming more expensive with each passing year, and one should consider the increase while planning their budget.

Average rent in Lee’s Summit,MO for 2-bedroom

In 2023, the average rent in Lee’s Summit, MO for a 2-bedroom apartment is expected to increase to $1,400 per month. This represents a steep rise from the previous year’s average of $1,200, which marks a 16.67% increase in rental costs. Moreover, compared to the rates in 2021, which were $1,000 per month, this represents an astounding 40% jump in just a couple of years. Therefore, it is clear that Lee’s Summit’s rental market is experiencing a significant surge, making it an expensive option for those looking for two-bedroom homes in the city.

Average rent in Lee’s Summit,MO for 3-bedroom

As of 2023, the average rent for a 3-bedroom apartment in Lee’s Summit, MO is $1,500 per month. This represents a gradual increase in rent from 2020, where the average rent was $1,300 per month. Despite this steady growth, however, the rent hike has been somewhat inconsistent year over year. In 2021, the rate of rent increased by $100 per month, while in 2022, the increase was only $50. Nevertheless, the jump to $1,500 in 2023 is projected to be the largest yet, with experts predicting that the upward trend will continue over the next several years.

Average rent in Lee’s Summit,MO for studio

In 2019, the average rent for a studio in Lee’s Summit, MO was $785. However, in 2020 the average rent dropped by 2% to $768. Fast forward to 2023, and the average rent for a studio apartment in Lee’s Summit, MO is projected to increase to $865, representing a 13% increase since 2019. Additionally, in comparison to the 2020 average rent of $768, renters can expect to pay 13% more for their studio apartments in just three years. Despite the projected increase in the average rent, Lee’s Summit, MO remains an attractive and affordable option for those looking to move to the area.

Average rent in Lee’s Summit,MO for townhouse

Over the past few years, the average rent for a townhouse in Lee’s Summit, MO has fluctuated. In 2020, the average rent was $1,200 per month, which increased slightly to $1,250 in 2021. By 2023, it is estimated that the average rent for a townhouse in Lee’s Summit will reach $1,300 per month. Despite this increase, it is important to note that this is still lower than the average rent for a townhouse in many other cities in the United States. Furthermore, the city’s cost of living and quality of life make it an attractive place to live for many people. Overall, while there have been fluctuations in the average rent in Lee’s Summit for townhomes over the past few years, it remains an affordable and desirable place to live.

Most expensive neighborhoods in Lee’s Summit,MO

Lee’s Summit, MO is home to several upscale neighborhoods that offer luxurious living and high-end amenities to their residents. The most expensive neighborhoods in Lee’s Summit, MO include Raintree Lake, Winterset, and Lakewood. These neighborhoods provide exclusive waterfront properties, private golf courses, and lavish homes with spacious interiors and beautiful outdoor spaces. The average home prices in these upscale neighborhoods range from $600,000 to $1.5 million, making them some of the most sought-after communities in the area. Despite the high cost of living, residents enjoy a peaceful and tranquil setting, access to top-rated schools, and close proximity to shopping, dining, and entertainment options.

Most affordable neighborhoods in Lee’s Summit,MO

Lee’s Summit, MO is a great place to live, but some neighborhoods can be pricey. If you are looking for an affordable place to call home, there are several options to consider. The most affordable neighborhoods in Lee’s Summit, MO include places like the Southeast Industrial and Fredric Acres areas. These neighborhoods offer lower housing costs and are ideal for families or individuals on a budget. They may not have all the bells and whistles of more expensive neighborhoods, but they are still great places to live with plenty of amenities nearby.

Most popular neighborhoods in Lee’s Summit,MO

Lee’s Summit, MO has several popular neighborhoods that offer a variety of amenities and attractions for residents. One of the most sought-after neighborhoods is the Raintree Lake community, which boasts a 235-acre lake, community clubhouse, and swimming pool. Another popular neighborhood is Lakewood, known for its beautiful homes, well-manicured lawns, and proximity to shopping and dining. The downtown area of Lee’s Summit is also highly sought after, with its charming historic district, trendy restaurants, and boutique shops. Other popular neighborhoods include Bridlewood, Windemere, and Winterset. No matter which neighborhood you choose, Lee’s Summit has something great to offer its residents.

Comparison with other cities

1. New York, NY – $3,103
2. Los Angeles, CA – $2,524
3. Chicago, IL – $1,792
4. Houston, TX – $1,108
5. Philadelphia, PA – $1,582
6. Phoenix, AZ – $1,191
7. San Antonio, TX – $1,031
8. San Diego, CA – $2,493
9. Dallas, TX – $1,214
10. San Jose, CA – $2,488
11. Austin, TX – $1,428
12. Jacksonville, FL – $1,056
13. Fort Worth, TX – $1,063
14. Columbus, OH – $1,014
15. San Francisco, CA – $3,547

FAQ

Q: What is the average rent in Lee’s Summit, MO?
A: The average rent in Lee’s Summit, MO as of 2023 is $1,450 per month.

Q: Is the rent in Lee’s Summit, MO expensive?
A: Lee’s Summit’s average rent is considered moderately priced compared to the national average.

Q: What type of rental properties are available in Lee’s Summit, MO?
A: There is a variety of rental properties available in Lee’s Summit, MO, including apartments, townhouses, single-family homes, and duplexes.

Q: How much do apartments cost to rent in Lee’s Summit, MO?
A: The average cost of an apartment in Lee’s Summit, MO ranges from $800 to $1,600 per month, depending on the size and location.

Q: What is the cost of renting a single-family home in Lee’s Summit, MO?
A: The average cost of renting a single-family home in Lee’s Summit, MO is around $1,800 to $2,000 per month.

Q: Are there any fees associated with renting in Lee’s Summit, MO?
A: Yes, most property managers require an application fee and a security deposit upon signing a lease agreement.

Q: How do I search for rental properties in Lee’s Summit, MO?
A: There are several ways to search for rental properties in Lee’s Summit, MO. You can use online rental websites or work with a local real estate agent. You can also check local classifieds or ask for recommendations from friends and family.

Q: Can I negotiate the rent with the landlord in Lee’s Summit, MO?
A: It is possible to negotiate the rent with the landlord in Lee’s Summit, MO, but it ultimately depends on their policies and the current market demand. It’s always a good idea to communicate openly with the landlord and discuss any concerns you may have about the rent.





Author – Stan Huxley

Passionate about real estate, Stan Huxley brings a wealth of experience to our articles. With a lifelong career in the industry, Stan’s insights, tips, and expert advice empower readers to navigate the world of real estate confidently. Whether you’re a homebuyer, seller, or investor, Stan is your trusted guide to making informed decisions.

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