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 90.7, 9.3% below the national urban area average of 100.
Overall Cost of Living Index
|Oklahoma City, OK||84.6|
|St. Louis, MO-IL||90.4|
|Kansas City, MO-KS||93.1|
|Colorado Springs, CO||94.0|
|Orange County, CA||151.6|
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 $135,700 in the third quarter 2016, according to the National Association of Realtors. Wichita ranked 27th lowest of 179 reporting metro areas and $105,500 or 44% below the national median price of $240,900.
Existing Single-Family Home Median Sales Price
|Saint Louis, MO-IL||$160,800|
|Kansas City, MO-KS||$179,200|
|Des Moines, IA||$184,300|
|Dallas-Fort Worth-Arlington, TX||$230,600|
|Colorado Springs, CO||$257,900|
|Los Angeles-Long Beach-Santa Ana, CA||$503,400|
Newly Built Single-Family Homes
Newly-built home prices are also quite reasonable. The annual average 2016 sale price of newly built single-family homes in the Wichita metro area was $231,316. That is $95,683 or 29% below the corresponding national figure of $326,999.
Wichita area apartment rent is also very reasonable. Average two-bedroom apartment rent was $700 in the 2016 annual average (ACCRA survey). That is $308 or nearly 30.6% lower than the national figure of $1,008.
Two-Bedroom Apartment Average Rent
|Oklahoma City, OK||$818|
|St. Louis, MO-IL||$864|
|Kansas City, MO-KS||$884|
|Colorado Springs, CO||$1,104|
|Orange County, CA||$2,190|
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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