Lenexa, KS Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Lenexa, KS Housing Market Trends

With 55,625 people, 21,683 houses or apartments, and a median cost of homes of $321,716, Lenexa real estate is some of the most expensive in Kansas, although Lenexa home values aren't among America's most expensive.

Single-family detached homes are the single most common housing type in Lenexa, accounting for 56.94% of the city's housing units. Other types of housing that are prevalent in Lenexa include large apartment complexes or high rise apartments ( 28.84%), row houses and other attached homes ( 9.33%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 4.70%).

The most prevalent building size and type in Lenexa are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 60.50% owning and 39.50% renting.

There is a lot of housing in Lenexa built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Lenexa built between 2000 and later ( 28.66%). A lesser amount of the housing stock also hails from between 1940-1969 ( 7.05%). There's also some housing in Lenexa built before 1939 ( 1.16%).

Lenexa Home Appreciation Rates

Appreciation rates for homes in Lenexa have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 49.09%, which ranks in the top 30% nationwide. This equates to an annual average Lenexa house appreciation rate of 4.07%.

NeighborhoodScout's data show that during the latest twelve months, Lenexa's appreciation rate, at 6.22%, has been at or slightly above the national average. In the latest quarter, Lenexa's appreciation rate has been 1.77%, which annualizes to a rate of 7.28%.

Relative to Kansas, our data show that Lenexa's latest annual appreciation rate is higher than 50% of the other cities and towns in Kansas.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Lenexa differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Lenexa - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Lenexa real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$321,716

Lenexa, KS HOME PRICES

> $1,221,000
0.5%
0.5%
$916,001 - $1,221,000
1.0%
1.0%
$610,001 - $916,000
5.7%
5.7%
$488,001 - $610,000
8.2%
8.2%
$366,001 - $488,000
17.3%
17.3%
$244,001 - $366,000
40.3%
40.3%
$122,001 - $244,000
23.7%
23.7%
$61,001 - $122,000
1.0%
1.0%
$0 - $61,000
2.4%
2.4%
0.0% 100.0%
% OF HOMES
Value Relative To State

High for Nation

Very High for KS

Value Relative To Nation

Number Of Homes And Apartments:
21,683

Lenexa Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
KS*
Compared To
America*
Latest Quarter:
2020 Q4 - 2021 Q1
Last 12 Months:
2020 Q1 - 2021 Q1
Last 2 Years:
2019 Q1 - 2021 Q1
Last 5 Years:
2016 Q1 - 2021 Q1
Last 10 Years:
2011 Q1 - 2021 Q1
Since 2000:
2000 Q1 - 2021 Q1
69.78% 2.52%
5
5
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,509 / per month

Homeownership Rate

Owners
60.5%
60.5%
Renters
39.5%
39.5%
Vacant
6.1%
6.1%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
28.7%
28.7%
1970 - 1999
63.1%
63.1%
1940 - 1969
7.1%
7.1%
1939 or Older
1.2%
1.2%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
56.9%
56.9%
Townhomes
9.3%
9.3%
Small Apt. Buildings
4.7%
4.7%
Apt. Complexes
28.8%
28.8%
Mobile Homes
0.2%
0.2%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
0.7%
0.7%
1 Bedroom
15.3%
15.3%
2 Bedrooms
19.0%
19.0%
3 Bedrooms
23.6%
23.6%
4 Bedrooms
34.3%
34.3%
5 or more bedrooms
7.2%
7.2%
0.0% 100.0%
% OF HOMES