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There's a the age old question everyone thinks about when they decide to move to a city in Kansas:
Should I buy a place or rent? Well, we aren't here today to solve that problem for you exactly. We are just assuming you'll do the right thing and a buy a place. And while we are happy to tell you the best place to live in Kansas, this analysis is going to tackle the question of the best place to buy a house as an investor. That is we are going to try and determine the up and coming cities in the Sunflower State.
To do that we are going to look at places in Kansas that are growing faster than average, but where home prices are below average. In every day terms, the "deals". The best deal in Kansas at the moment? That would be Tonganoxie according to our analysis.
Here's a look at the top ten places to buy a home in kansas for 2020:
- Tonganoxie (Homes For Sale)
- Concordia (Photos | Homes For Sale)
- Iola (Photos | Homes For Sale)
- Colby (Photos | Homes For Sale)
- Paola (Photos | Homes For Sale)
- Ulysses (Photos | Homes For Sale)
- Basehor (Homes For Sale)
- Mulvane (Photos | Homes For Sale)
- De Soto (Photos | Homes For Sale)
- Spring Hill (Homes For Sale)
What's the best place to buy a home in Kansas for 2020? According to our analysis, would the the ideal place to buy a home looking into the future.
The methodology that wen't into this can be a bit complicated, so we'll break it down for you in as much detail as we can below. If you're not worried about finding a deal on good places to live, check out the most expensive places to live in kansas and, for those of you on a budget, the cheapest places to live in kansas.
For more Kansas reading, check out:
- These Are The 10 Best Counties To Live In Kansas
- These Are The 10 Best Places To Retire In Kansas
- These Are The 10 Richest Cities In Kansas
The 10 Best Cities To Buy A House In Kansas For 2020
Concordia holds the distinction of being elected the county seat before the town was created. The founder of the town, James M. Hagaman had created a complete layout of the town on paper including streets, blocks, courthouse, and parks. The name "Concordia" was chosen because a member of the early group of promoters had once lived in Concordia, Missouri.
The history of Iola began in 1859. After the location of the county seat at Humboldt, by the legislature of 1858, there was a great deal of dissatisfaction among the residents of the central and northern parts of the county, and a number of citizens selected the present site of Iola, with the intention of ultimately securing the county seat. On January 1, 1859, a large meeting was held at the Deer Creek schoolhouse. It was determined to organize a town company, which was immediately done, and a constitution was then adopted and officers elected. The officers of the company after due consideration of different points selected a site for the proposed town, about two miles north of Cofachique, at the confluence of Elm Creek and the Neosho River. The site was owned in part by J.F. Colborn and W.H. Cochrane. The claims on two quarter-sections were bought, and were soon after surveyed into lots.
In 1882, a post office was established near the center of Thomas County. Area homesteaders lived under harsh conditions in sod houses, creating demand for a town to provide lumber and other provisions to incoming settlers. J.R. Colby, a local land assessor and preacher, obtained a patent to establish the town in April 1884, and land was acquired for the town site three miles north of the post office in March 1885. The following month, the Kansas Secretary of State issued the Town Charter. Kansas Gov. John Martin named Colby the county seat in 1885, and the city was incorporated in 1886. The Union Pacific Railroad reached the city in 1887, and the Rock Island Railroad followed the next year.
Native Americans, then Spanish explorers such as Francisco Vsquez de Coronado in 1541, and French missionary explorers in 1673 lived and traveled throughout the area of what is now Paola. Despite these early European incursions at the start of the 19th century, the area was largely controlled by the Osage people.
In 1831, south of the future site of Ulysses, Kansas, then a part of Northern Mexico Territory, mountain man and explorer, Jedediah Smith, was killed by Commanche warriors, on May 27, 1831. The first Ulysses, town, founded in June 1885, was located approximately two miles east of present-day Ulysses. Approximately six weeks later Ulysses' first newspaper, The Grant County Register, began publication.
In exchange for extensive Delaware holdings in the state of Indiana, on September 24, 1829, the United States Government ceded a large tract of land to the Delaware Indians. Basehor is built on a small part of this tract. The Delawares held this land, or at least parts of it, until the 1860s. On July 4, 1866, the Secretary of the Interior of the United States was offered for sale what was left of the Delaware lands, then referred to as the Delaware Diminished Reserve, for not less than $2.50 per acre. The Leavenworth, Pawnee, and Western Railroad Company subsequently bought all of the remaining land on January 7, 1886.
Mulvane was laid out in 1879 at the junction of five Santa Fe rail lines. It is named for Joab R. Mulvane, a railroad official who was instrumental in bringing the Atchison, Topeka, and Santa Fe Railroad to Mulvane.
De Soto began in the spring of 1857, named for sixteenth-century Spanish explorer, Hernando De Soto. In 1858, John Possum, a Shawnee Indian, and Hattie Possum sold 80 acres to John F. Legate, S. Todd and Stratton and Williams for $1,200. The next sale was 80 acres to the De Soto Town Company in July 1861 for $1,176. Major James B. Abbott is remembered as one of the town's pioneer landowners and the builder of Abbot Hall. Today, Abbot Hall is one of two town museums.
In 1856, James B. Hovey named the community after a town near Mobile, Alabama. -Being somewhat enthusiastic in my estimation of its future, it having all advantages of timber and water, and on a line that must be traveled between Olathe and Paola, I concluded to myself, as there was no one else to conclude with, that this was a good place for a town.- - J.B. Hovey, 1857 The town was incorporated in 1857, and Hovey then served as the town-s first postmaster. Also that year, Hovey built the first building in town, the Spring Hill Hotel. The two-story structure, also known as the -Old Traveler-s Rest- was located on the highest elevation in town.
How do you determine the best places to buy a home in kansas for 2020?
We were in real estate for almost five years and have been working on this site for another three. Suffice is to say, we've put a lot of thought into what goes into finding a good place to buy a home.
So all that thinking has come to this moment where we get to spell out how we'd approach finding an up-and-coming place to live in Kansas. Put differently, the analysis will try to find places in Kansas with undervalued homes relative to pent up demand.
To do that we looked at the most recent American Community Survey Census data for 2014-2018 and compared it to the previous vintage (2012-2016). Specifically, we used the following criteria:
- Y-o-Y Change In Population (People want to live here)
- Y-o-Y Change In Median Home Prices (People are willing to pay for it)
- Home Prices Relative To The State Average (It's still kinda cheap)
We want places that are growing, have seen home prices increase in recent years, and are still "cheap" for Kansas with the following caveats:
- Home prices had to be within 20% of the state average (Much lower than that and you get to some of the more dangerous places)
- Home prices increased in the last year, and
- Above 5,000 people (Bigger cities have more data points)
So of the 0 cities and towns in Kansas, only 61 places made it through our initial filters to even be considered.
We then ranked each place from 1 to 61 for the criteria mentioned above with 1 being the best for that criteria. We averaged the rankings to create a "best place to buy" index with the place having the lowest index being the best. You can download the data here.
Turns out that Tonganoxie is the best potential gem in the not-so-rough in the Sunflower State.
Read on for more on these places.
There You Have It - The Best Places To Purchase A House In kansas for 2020
There's our analysis of the best places to buy a house in Kansas. And, to be clear, we aren't necessarily saying these places are the best places to live, just that it looks like they might be in a couple of years based on the data.
In fact, every place in the following table meets our criteria, so even though it may not look super long, remember we started off with all 0 places in the state.
So if we'd could rent or buy in these cities, we'd definitely buy.
For more kansas reading, check out:
Detailed List Of The Best Places To Buy A Home In Kansas