If Amazon's new headquarters come to KC, rent prices could potentially rise

Posted at 4:18 PM, Oct 17, 2017
and last updated 2017-10-17 17:29:14-04

KANSAS CITY, Mo. -- If Kansas City was to become Amazon's new location for headquarters, it could bring a $5 billion investment and 50,000 jobs, most of which are six-figure salaries.

But are there potential downsides to becoming Amazon's second home?

As city leaders compete with others to sell their beloved towns to Amazon, 41 Action News has learned a second headquarters might not be the only thing to go up.   

Senior Broker Associate for ReeceNichols Charles Wilson said the cost of living will also increase.  

He told 41 Action News the addition would mean apartment vacancies will fill up quickly.  

“The bad thing is those people there will be forced to pay higher rent, because it’s Amazon and that’s the backside of their branding and who they are. You’re going to pay a little more probably. The landlord or whoever are going to try to charge you more because of Amazon’s position in their head," Wilson said.

Experts said the economic injection could be huge, but the rent increase could translate into tens of thousands of dollars over a ten-year period.  

Wilson said that could be a concern for those already on a tight budget.  

“[They would be] forced to move, absolutely. It comes down to everybody’s individual situation. I think Kansas City may be, if I may say so, a good facility for that. It just depends on the transition,” Wilson said.


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