KSHB 41 News reporter Lauren Schwentker covers stories in Platte County. Have a story idea? Send her an email.
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A new build-to-rent community is coming to the Northland near Barry Road and Prospect this summer, raising questions about what the trend means for housing affordability in the Kansas City metro.
For some families, the shift toward rental communities is adding another obstacle to an already difficult homebuying search.
Kyler Cox is helping his mother find a home in Clay County — a process that has taken longer than expected.
"It's frustrating," Cox said.
Cox said the available inventory isn't matching what his mother needs from a home.
"Essentially, everything we can find is $800,000 and million dollar big homes," Cox said. "She's a single grandma, and she needs a smaller home."
On top of limited inventory, Cox said rental properties are crowding out houses for sale.
"What we are finding more and more of is that it's all for rent," Cox said.
That trend is playing out on a national scale, according to Brent Never, an associate professor of public affairs at the University of Missouri-Kansas City.
"Rental communities are, on a national level, becoming a hot thing," Never said.
One example taking shape locally is the Bungalows at Maple Woods, a 153-unit single-story home community planned off Highway 152.
Never said shifting economics are driving more people toward renting.
"It's an interesting time we're finding that the economics of ownership aren't quite as clear cut as they were previously," Never said.
A recent LendingTree analysis shows it is easier to rent than own in the Kansas City metro. Median rent in the area is just over $1,300 a month, while median housing costs for homes with a mortgage are about $2,000 a month — a difference of roughly $600.
Never said that gap could make renting a financially strategic choice for some.
"If you take those savings and put them in some sort of investment, that gives you a return more than what you would get in a real estate market," Never said.
KSHB 41 spoke to a realtor in the Northland who said more infrastructure is a positive to all locations nearby.
Michael Morris said many buyers are on the sidelines.
“A lot of stagnation is going on," Morris said.
Morris also said he thinks the rental community is putting a band-aid on a bigger problem.
"I think we need to have a lot more units installed," Morris said. "I know nobody wants to see these big apartment complexes, but it's (that) we don't have enough living."
Still, Cox said his mother is not interested in renting, even as the market looks increasingly different from when she last bought a home.
"She doesn't want to rent, and she hasn't rented in the past," Cox said. "She also hasn't bought anything in 20 years so it's a whole different market," Cox said.
This story was reported on-air by a journalist and has been converted to this platform with the assistance of AI. Our editorial team verifies all reporting on all platforms for fairness and accuracy.
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