Lee's Summit, Missouri Rental Market Trends
Any shifts in rent prices brought forth by the COVID-19 pandemic are not yet reflected in the statistics on this page. Please bear this in mind when referencing the data below, as it may not accurately describe the current context of the Lee's Summit, Missouri rental market.
Lee's Summit, Missouri
Average Apartment Rent in March 2022
$1,287
Y-o-Y Change in Average
Apartment Rent
9.1%
Compared to a year ago, Lee's Summit, Missouri apartments have recorded a 9.1% rent increase.
Lee's Summit, Missouri |Average apartment rent trend
Lee's Summit, Missouri| Average apartment rent
Lee's Summit, Missouri | Apartment rent ranges
At 41.41%, apartments priced $1,000 - $1,500 represent the bulk of Lee's Summit, Missouri rentals, while condos priced $500 - $700 hold the lowest share of the market – 2.26%.
Lee's Summit, Missouri | Housing tenure**
Renters take up 23% of Lee's Summit, Missouri real estate, occupying a total of 8,385 units, while homeowners live in 28,424 properties.
Median number of rooms of renter-occupied housing units**
4.2
Renter median household income**
$47,182
Average household size of renter-occupied housing units**
2.06
Rental vacancy rate**
6.5%
Lee's Summit, Missouri | Renter-occupied housing units by no. of bedrooms**
There are 3,591 rentals in Lee's Summit, Missouri with 2 beds making up the highest share of the market, at 43%. Units with No bedrooms, on the other hand, hold the lowest percentage (5%), amounting to 378 units. Overall, the median number of rooms in Lee's Summit, Missouri homes for rent is 4.2.
Lee's Summit, Missouri |Renter-occupied units by age of householder**
Most condos for rent in Lee's Summit, Missouri are occupied by residents in the 25 - 34 years age group (26%), followed by those in the 35 - 44 years age group (14%). At the same time, people in the 55 - 59 years age group make up the lowest share of the local rental market – 5%.
Lee's Summit, Missouri | Renter-occupied housing units by family type**
Lee's Summit, Missouri | Renter-occupied housing units by the presence of own children**
A total of 3,874 apartments for rent in Lee's Summit, Missouri, or 46% of all rentals are family households. Additionally, 28% of rental homes include children under the age of 18 – that’s 2,318 units. All in all, the median size of a renter-occupied household in Lee's Summit, Missouri is 2.06.
Lee's Summit, Missouri | Renter-occupied housing units by educational attainment**
In terms of education, renters holding bachelor degrees or higher make up 29% of the rental market. In contrast, residents with less than a high school degree reside in 7% of the homes for rent in Lee's Summit, Missouri.
Lee's Summit, Missouri | Renter-occupied units by year structure built**
The highest share of Lee's Summit, Missouri apartment rentals, namely 20% or 1,647 units, were Built 1970 - 1979, followed by those Built 1980 - 1989 (17%, 1,455 units), and the ones Built 2000 - 2009 (17%, 1,453 units).
Lee's Summit, Missouri | Renter-occupied units by year householder moved in**
Median year renter moved into unit2015
Most Lee's Summit, Missouri renters (36%) moved in 2010 to 2014, while only 1% of them moved in 1989 or earlier. Overall, the median year renters have occupied their Lee's Summit, Missouri condos for rent is 2015.
Lee's Summit, Missouri | Renter-occupied housing units by vehicles available**
When it comes to transportation options, 51% of Lee's Summit, Missouri renters have 1 vehicle available per household, 29% of them have 2 vehicles available, and 13% have No vehicle available.
Lee's Summit, Missouri | Means of transportation to work of householders living in renter-occupied housing units**
Lee's Summit, Missouri |Geographical mobility in the past year for householders living in renter-occupied housing units**
Lee's Summit, Missouri | Average apartment rent by zip codes
The rental statistics on this page were compiled using data provided by our sister company, Yardi Matrix, an apartment market intelligence solution which offers comprehensive information on all Lee's Summit, Missouri apartment buildings 50 units or larger. Yardi Matrix covers ~80% of the U.S. metro area population, including over 80,000 properties and 15.2 million apartments across 124 U.S. markets.
*Average single-family rent calculated from point2homes.com data.
**Data sourced from U.S. Census Bureau; American Community Survey, 2019 American Community Survey 5-Year Estimates
