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Business Community - Cost of Living

The overall cost of living in Kansas City is less than the national average. The overall index is 96.3 compared to the national norm of 100. Cost of living in Kansas City is above Oklahoma City, Memphis and Houston, but less than in many larger midwestern and western metro areas including Denver, Chicago, Minneapolis, San Jose and Phoenix.

The median value of a home in eastern Jackson County in 2009 was $129,929, which is 15 percent less than the metro area median of $142,585, and 2.5 percent higher than the Jackson County median of $117,422. Home values in the area have increased by roughly three percent annually since 2000. About 27 percent of housing units in eastern Jackson County have a value of less than $100,000, which is comparable to the metro area as a whole. However, the share of homes in the $100,000 to $149,999 range in eastern Jackson County (33.9 percent) is substantially higher than the metro area share of 26.7 percent. The share of units in the $300,000 and over range in eastern Jackson County is notably less than the share of units in the similar value range for the metro area.

In general, eastern Jackson County as a region appears to be more affluent than Jackson County, but less affluent than the metro area in terms of housing values. However, there is wide variation in housing values among the communities in eastern Jackson County, with median values ranging from a high of $181,680 in Lee's Summit to a low of $102,771 in Independence. In the 2000 Census, median rent in eastern Jackson County was estimated at $569, compared to $536 for Jackson County and $577 in the metro area. The majority of units (42.6 percent) in eastern Jackson County have rents in the range of $500 to $749. Similarly high percentages of units in this range can be found in Jackson County and the metro area as a whole.