Because inventory is low, homes sell above their list price and market value. Carlson said the price buyers will pay for a home is exceeding what appraisers call the appraised value. Today I'd like to introduce you to the pros and cons of living in Kansas. Because where you choose to live has a big impact on your life and your finances.
Maybe you're thinking about moving to Kansas for work? Or are you retiring in Kansas? Regardless of your situation, there are many benefits to living in Kansas. Also, Some Not-So-Great Things You Should Know About Kansas. And dive into the pros and cons of living in Kansas right away. Since I want to answer this very important question for you.
Is Kansas a good state to live in? Here are 5 good things about Kansas. Plus, 5 Bad Things When Considering “The Sunflower State. Next, let's look at each of these pros and cons of living in Kansas in greater detail. And since this is a personal finance site.
We'll take a closer look at the cost of living in Kansas. And other great state characteristics of living in Kansas that can affect your finances. Because most of us want a satisfying place to live. Providing an Affordable Lifestyle.
Then check out the pros and cons of living in each state here. Why Move to Kansas? This is the first good reason. Housing Costs Are Low In This State. And this expense is one of the most important parts of a household's budget.
But there's no need to worry about that when you move to Kansas. Because the average cost of a home in Kansas is about 40% lower than the national average. This makes Kansas housing one of the cheapest states in the U.S. UU.
House prices in Kansas are similar to another state I know. So, if low housing costs are a priority for you. Then you might also want to consider living in Iowa. In Kansas, demand for housing has been strong in recent years.
But available-for-sale home inventories are low. This has limited the number of transactions that occur each year. Around 40,000 homes change hands in Kansas every year. And even with a limited offer that increases prices.
The state still ranks easily in the top 10 of all states for low housing prices. In addition, higher prices have brought builders to market. Therefore, stimulating the growth of new housing construction. Mainly in the most populated areas.
Finally, do you need a mortgage for that new home you're thinking about in Kansas? Then consider LendingTree. They have fast and affordable online options. And make sure you keep your credit rating in good shape. Because your lender or landlord will review your credit rating.
And probably your new employer too. That's if you move to Kansas for a job opportunity. I check my credit rating for free. And use Credit Karma to do it.
You can learn more about Credit Karma here. Another reason to move to Kansas? It's one of the cheapest states to live in. The other big-budget categories that most of us encounter are food and transportation. Along with housing, they complete the “big three” budgets of most people.
First, Kansas grocery bills are about 7% below the national average. Plus, we save even more on our food bill by using the Ibotta app. Finally, car ownership is nearly 20% below average in the U.S. Because gasoline, insurance, and vehicle maintenance are quite cheap in Kansas.
Because there aren't many public transport options. More on that a little later. And here's one more way to keep your cost of living low in Kansas. Saving on all your online purchases.
We use the cashback app, Rakuten. And get refunds for everything we buy online. This little secret works anywhere you choose to live. But why not make it even cheaper to live in Kansas, once you get there?.
Can you believe it? In Kansas, there's a place that pays you to live there. Applicants must move to the capital of the state of Kansas, Topeka, for employment. And rent or buy a house in the county within a year. There is also a cash incentive for remote workers who qualify.
Another of my favorite things about Kansas? Specifically, the state has some nice, but modestly sized cities. Here's a quick rundown of some of the best places to live in Kansas. Wichita is located in the south-central part of the state. It is the largest city by population, with almost 400,000 inhabitants.
And home to Wichita State University. Overland Park is located in the richest county in Kansas. This city is routinely recognized as one of the best places in the U.S. Making Overland Park, Kansas, a Destination for Many Young Professionals.
Also, don't forget about the other great college cities in Kansas. If you like the atmosphere and cultural amenities offered by this type of place. The University of Kansas is located in Lawrence. While Kansas State University is located in Manhattan.
Along with Topeka and Kansas City, these 6 small and medium-sized cities are the largest in the state of Kansas. If you choose to live in any of these metropolitan areas. Your average commute will be short. If desired, cross the state line east.
Then, the opportunities offered in Missouri await you. If you like to eat, you could gain a few pounds living in Kansas. Because there are some popular “stick to your ribs” specialties that Kansas is known for. Kansas barbecue is usually cooked at a low temperature.
Burnt ends are considered a local specialty. They are the tasty and tasty ends of a smoked brisket. Other featured barbecue dishes include beef brisket, shredded pork, ribs, chicken, turkey, and sausage. Because Kansas barbecue sauce has its own personality.
It's something thick and sweet. Then we have fried chicken fillet. What is it? Chicken or steak? Well, it's crispy and fried breaded around cubes of meat covered with creamy sauce. That would put a few kilos on anyone.
The bragging rights of this classic dish can get a little irritating in the south-central region of the U.S. Texas, Louisiana and Kansas demand fried chicken fillet. As part of their regional culinary traditions. Finally, we have steaks and hamburgers.
Since Kansas is one of the top producers of cattle in the U.S. Therefore, it is not difficult to find a good hamburger. Or, a tender and juicy cut of your favorite steak roasted to perfection. This is another of the best things about Kansas.
You can enjoy the 4 weather stations in this state. During the summer, conditions are warm and humid. But the state gets plenty of sunshine. Daytime temperatures are usually in the 80s and 90s.
At the other extreme, January is the coldest month. Temperatures range from teens at night to 30 degrees for most days. Snowfall is most common in February and early March. Especially in the western part of the state.
Spring flowers begin to bloom in late March. Mark the start of warmer temperatures. And the beginning of the autumn season. With different regions of the state experiencing beautiful fall foliage.
Finally, it's important to understand that weather can vary significantly depending on your location in the state. From wetlands and subtropics in the south. So, choose your destination in Kansas wisely. If a specific type of climate is important to you.
Southern parts of the state can be very hot in summer. Wichita and the surrounding area can be difficult to manage. Where the heat index reaches life-threatening levels sometimes. So keep this in mind if you're considering the Wichita area.
Besides, tornadoes are one of the bad things about Kansas. The state resides in Tornado Alley. Recordings of nearly 100 of these storms a year are not uncommon. May, June and November tend to be the busiest months.
Offset Kansas's mostly low cost of living? Plan to pay a little more for your home insurance. To protect you from these natural disasters. Outside the metropolitan areas I mentioned above. This state has vast rural areas.
And it's OK if you prefer the relaxed lifestyle and wide open countryside. Without much to do that comes with it. Some Things You'll Want to Keep in Mind. Especially, if you plan to end up in the less populated western part of the state.
These traits are similar to living in Wyoming. The state with the lowest population. If a more urban environment is important to you in Kansas. Or, the Kansas City metropolitan area.
Because air travel options are limited here. Residents typically travel to Tulsa, Oklahoma, Denver, Colorado, or Missouri. Just to catch a flight to your chosen destination. Finally, the largest airport is located in Wichita.
While Manhattan is home to the next. However, it mainly caters to regional travel options. The state is mainly known for its vast, mostly flat plains. A plain is just another word for a grassland or grassland without forests.
The plains extend west and southwest to the state of New Mexico. For a bit of variety, rolling hills, pastures, and forests can be found in the northeastern part of the state. Finally, the western half of Kansas is covered by the Great Plains. They continue to increase in elevation as you move to the Colorado mountains.
Therefore, there are no ocean beaches to enjoy. So, if you like the abundance of rolling plains and grasslands. So Kansas is a good state to live in. On the other hand, if you want mountains, oceans, beaches and forests.
Don't think about moving to Kansas. Try another state in the Midsouth. For beautiful landscapes, you may want to consider living in Tennessee. Next, in a couple of areas that partially offset the low cost of living in Kansas.
Kansas doesn't compare to the state with the highest taxes. However, the tax burden is something that must be taken into account. Even though the cost of living is low here. Sales Taxes Are Very High in Kansas.
The state ranks in the top 10 in all of the United States when it comes to collecting sales tax on purchases you make. First, the state evaluates 6.5%. County and local governments then place their sales taxes above that. With some local sales tax rates exceeding 4%, then depending on where you spend your money in Kansas.
Sales taxes can easily range from 7 to 12%. The State Uses a Progressive Income Tax System. Where rates range from 3.1% to 5.7%. Therefore, a little income is needed for the upper marginal tax rate to take effect.
But once you get there, it's a fairly high upper marginal tax category, at almost 6%. So if you plan to make a lot of money in Kansas. And spend the money you earn. Then know that this state has high taxes.
Because it will hit you when you make money. Also, maybe you need to adjust your finances before the big move to Kansas? I use Personal Equity to manage my total financial situation online. So, don't forget to consider living in Texas. Finally, one more reason why you might not want to move to Kansas.
There is a downside to choosing a state that has not experienced the effects of urbanization. And that's the lack of public transport. To Get Around Kansas, You'll Probably Need A Car. While larger metropolitan areas have public bus transportation options.
They may not meet all of a person's transportation needs. On the other hand, even more populated states have limited public transportation. The population of the Sunshine State is growing rapidly. However, public transport options have not been maintained.
Making Bad Traffic One of the Negative Aspects of Living in Florida. You won't find traffic problems in Kansas. Is Kansas a good state to live in? As with most options in life, it depends on what you're looking for. If you want affordable housing and a low cost of living.
Set in small and medium-sized cities with a slow pace. And you like to eat meat and barbecue while you enjoy the 4 seasons. Kansas is a good state to live in. Not sure yet? But do you like some of the features Kansas Living has to offer? Then you might also want to consider living in Oklahoma.
The neighboring state of Kansas to the south. Here is a summary list of the pros and cons of living in Kansas. Whether you live, work, or retire in Kansas. Here are some of the main pros and cons you should consider before moving to “The Sunflower State”.
I mentioned several money-saving tools, apps, and resources throughout the article. They are summarized here for your convenience. How to Become an Investment Millionaire Tennessee Living and Your Taxes Florida Life and Your Finances I like to invest in dividend growth stocks for passive income. And find the best ways to make the most of my money and yours.
The sole purpose of this site is information & entertainment. Nothing presented constitutes investment advice. Kansas City's real estate market is intense, with sky-high prices and limited availability that challenge the city's reputation for affordability. According to a March study by First American Financial, Kansas City, Missouri, was among the top five housing markets that experienced the largest year-on-year decline in affordability.
With home prices and rents high, more people in Kansas City are left without any affordable housing options. We received quite a few calls from the owner of the property who was dazzled by the pitcher who sold them the house. In other houses that interested them, the house sold before they could even talk about making an offer. Kansas is a very cheap state because the cost of living is low, the median income is high, and because houses are cheap.
Andy Scoates says the couple have seen at least 20 Kansas City homes in their search so far and have looked at hundreds more online. At an open house this weekend in the Lee's Summit area, the couple said the money they made from the sale of their last home doesn't extend as long as they hoped. . .