Reasonable overall cost-of-living (particularly moderate housing costs) are a particularly effective personnel recruiting and retention inducement
Even with its many amenities, Wichita's overall cost-of-living index is a very moderate 92.2 -- or about 8% below the national urban area average of 100.
Overall Cost of Living Index
|Oklahoma City, OK||84.9|
|St. Louis, MO-IL||90.6|
|Kansas City, MO-KS||91.5|
|Colorado Springs, CO||95.7|
|Orange County, CA||152.6|
Source: C2ER Cost-of-Living Survey (Annual Average 2017)
Existing Single-Family Homes
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 $147,700 in third quarter 2018; according to the National Association of Realtors. Wichita ranked 28th lowest of 178 reporting metro areas and $119,200 or 45% below the national median price of $266,900.
Existing Single-Family Home Median Sales Price
|Oklahoma City, OK||$164,700|
|Saint Louis, MO-IL||$182,000|
|Omaha-Council Bluffs, NE-IA||$193,900|
|Kansas City, MO-KS||$204,900|
|Des Moines-West Des Moines, IA||$208,200|
|Dallas-Fort Worth-Arlington, TX||$262,100|
|Colorado Springs, CO||$315,700|
|Los Angeles-Long Beach-Glendale, CA||$628,900|
Newly Built Single-Family Homes
Newly-built home prices are also quite reasonable. The annual average 2017 sale price of newly built single-family homes in the Wichita metro area was $249,208. That is $87,240 or 26% below the corresponding national figure of $336,448.
Wichita area apartment rent is also very reasonable. Average two-bedroom apartment rent was $694 in the 2017 annual average (C2ER survey.) That is $350 or 34% lower than the national figure of $1,044.
Two-Bedroom Apartment Average Rent
|Oklahoma City, OK||$797|
|St. Louis, MO-IL||$877|
|Kansas City, MO-KS||$957|
|Colorado Springs, CO||$1,201|
|Orange County, CA||$2,233|
Greater Wichita Partnership
The Greater Wichita Partnership works to align and focus organizations, industries, businesses, and leaders to cultivate the environment for businesses to succeed and grow in order to fast forward economic growth in the greater Wichita region.
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