MARKET SNAPSHOT

2026 Kansas City Forecast

2025

FORECASTED ANNUAL CHANGE

2026

$1,354

Q4 AVG. EFFECTIVE RENT

2.0%

ANNUAL CHANGE

$1,382

Q4 Avg. Effective Rent

92.4%

Q4 AVG. OCCUPANCY

-10 BPS

ANNUAL CHANGE

92.3%

Q4 Avg. Occupancy

4,289

2025 COMPLETIONS

4,193

10 Yr. Avg. Annual Completions

3,397

2026 COMPLETIONS

2,971

2025 NET ABSORPTION

3,746

10 Yr. Avg. Annual Absorption

2,792

2026 NET ABSORPTION

Source: CoStar
Key Market Themes for 2026
  • Kansas City’s multifamily outlook for 2026 is best framed as healthy and improving at the margin, supported by a steady economic base and a supply cycle that is clearly moving past its peak.

  • Looking ahead, rent growth is projected to strengthening during the prime spring and summer leasing season. As supply pressures continue to ease and job growth gradually improves, Kansas City is positioned to regain pricing power later in the year, with rent growth expected to surpass 2.0% by Q3 2026.

  • Net rental demand is projected to remain resilient at roughly 2,800 units this year, which is in line with 2025 performance and broadly consistent with a market operating in a more normalized phase.

MARKET OUTLOOK

as City’s multifamily outlook for 2026 is best framed as healthy and improving at the margin, supported by a steady economic base and a supply cycle that is clearly moving past its peak...

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