Prairie Village, KS Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q2 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Prairie Village, KS Housing Market Trends

With 22,295 people, 9,813 houses or apartments, and a median cost of homes of $363,454, Prairie Village real estate is some of the most expensive in Kansas, although Prairie Village home values aren't among America's most expensive.

Single-family detached homes are the single most common housing type in Prairie Village, accounting for 86.46% of the city's housing units. Other types of housing that are prevalent in Prairie Village include large apartment complexes or high rise apartments ( 8.12%), row houses and other attached homes ( 2.93%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 2.41%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Prairie Village. Owner-occupied housing accounts for 76.83% of Prairie Village's homes, and 69.51% have either three or four bedrooms, which is average sized relative to America.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Prairie Village's housing was primarily built during this period, from the '40s through the '60s. A full 79.21% of the city's housing hails from this era. Other housing ages represented in Prairie Village include homes built between 1970-1999 ( 16.70%) and housing constructed before 1939 ( 2.06%). There's also some housing in Prairie Village built between 2000 and later ( 2.03%).

Prairie Village Home Appreciation Rates

In the last 10 years, Prairie Village has experienced some of the highest home appreciation rates of any community in the nation. Prairie Village real estate appreciated 73.36% over the last ten years, which is an average annual home appreciation rate of 5.66%, putting Prairie Village in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Prairie Village definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Over the last year, Prairie Village appreciation rates have trailed the rest of the nation. In the last twelve months, Prairie Village's appreciation rate has been 8.33%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Prairie Village were at 2.46%, which equates to an annual appreciation rate of 10.21%.

Relative to Kansas, our data show that Prairie Village's latest annual appreciation rate is higher than 60% of the other cities and towns in Kansas.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Prairie Village differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Prairie Village - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Prairie Village real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$363,454

Prairie Village, KS HOME PRICES

> $1,290,000
3.2%
3.2%
$967,001 - $1,290,000
5.9%
5.9%
$645,001 - $967,000
8.7%
8.7%
$516,001 - $645,000
9.5%
9.5%
$387,001 - $516,000
20.3%
20.3%
$258,001 - $387,000
27.8%
27.8%
$129,001 - $258,000
22.0%
22.0%
$64,001 - $129,000
1.6%
1.6%
$0 - $64,000
0.9%
0.9%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very High for Nation

Very High for KS

Value Relative To Nation

Number Of Homes And Apartments:
9,813

Prairie Village Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
KS*
Compared To
America*
Latest Quarter:
2021 Q1 - 2021 Q2
Last 12 Months:
2020 Q2 - 2021 Q2
Last 2 Years:
2019 Q2 - 2021 Q2
Last 5 Years:
2016 Q2 - 2021 Q2
Last 10 Years:
2011 Q2 - 2021 Q2
Since 2000:
2000 Q1 - 2021 Q2
117.18% 3.67%
10
8
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,971 / per month

Homeownership Rate

Owners
76.8%
76.8%
Renters
23.2%
23.2%
Vacant
6.5%
6.5%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
2.0%
2.0%
1970 - 1999
16.7%
16.7%
1940 - 1969
79.2%
79.2%
1939 or Older
2.1%
2.1%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
86.5%
86.5%
Townhomes
2.9%
2.9%
Small Apt. Buildings
2.4%
2.4%
Apt. Complexes
8.1%
8.1%
Mobile Homes
0.1%
0.1%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
0.8%
0.8%
1 Bedroom
4.2%
4.2%
2 Bedrooms
17.7%
17.7%
3 Bedrooms
44.5%
44.5%
4 Bedrooms
25.0%
25.0%
5 or more bedrooms
7.8%
7.8%
0.0% 100.0%
% OF HOMES