MARKET SNAPSHOT

Kansas City q1 2026

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AVERAGE RENT

$1,382 Q1 2026

OCCUPANCY RATE

92.4% Q1 2026

NET ABSORPTION

3,096 T4Q

ANNUAL RENT CHANGE

1.2% Q1 2026

ANNUAL OCCUPANCY CHANGE

-50 BPS

UNIT COMPLETIONS

2,564 T4Q

KEY TAKEAWAYS

Demand is firming with net absorption rising throughout 2025 and outpacing new deliveries in the past two quarters, pointing to broader momentum across key growth corridors.

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Supply pressures are easing as deliveries fall to the lowest level since 2021 and the construction pipeline shrinks to decade-low levels, improving the path back to balance.

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Pricing and occupancy remain soft but are stabilizing with a stronger retention and a gradual rent recovery expected as new supply is absorbed.

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MARKET OUTLOOK

Kansas City is navigating a constructive transition in its supply cycle. Trailing 12-month completions have fallen roughly 50% from the prior year, starts have pulled back to 3,400 units, and...

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