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The Odds of Owning a Home in Kansas
Owning property and being able to call your home your own is something many of us dream of. But with one of the most affordable costs of living in the US, what are your odds of being able to buy a home in Kansas, and how do your chances here compare to neighboring states?
To determine your odds of owning property in the Sunflower State, we considered a series of factors including the state’s income-house value ratio, Kansas house price growth, the number of households here per 1,000 people, and the home ownership rate across the state.
Ranking each US state for each factor, we were able to reveal where Kansas places among the easiest regions to purchase property.
Clearly, we cover more than just Kansas sports betting sites here.
How Easy is it to Buy Property in Kansas?
According to our research, with an overall index score of 61.8 out of 100, Kansas is among the easiest states to buy property in, ranking sixth behind only West Virginia (77.3), Iowa (68.8), Maine (67.8), Michigan (65.3), and Indiana (61.8).
Kansas’ high ranking is helped in-part by the favorable income-house value rate, 39.82%, lower than just West Virginia (47.59%), Iowa (41.71%), and Oklahoma’s (40.86%), and far better than in neighboring Nebraska (34.32%), Missouri (33.84%) and Colorado (16.69%).
To work this out, we considered the average income across the state ($82,103) and the average house value ($206,176).
Notably, there’s also a significant number of households per 1,000 Kansas residents — just under four for every 10 people. Although, despite this, the state has a relatively low rate of home ownership, with just 69.70% of people owning property here, ranking Kansas 20th across all US states.
House prices across Kansas are also some of the slowest-rising in America, with the average property worth just 52.60% more in 2022 than five years ago. That’s below the national average (58.62%), and a slower acceleration than nearby Colorado (70.60%), Missouri (57.30%), and Nebraska (53.80%).
What are Your Odds of Buying a Home in Kansas?
Kansas does rank among the top half of easiest states to buy a home in, with a home ownership rate of 69.70%, level with Missouri and just ahead of Oklahoma (69.60%).
This means your chances of becoming a Kansas homeowner are generally favorable, with moneyline odds of -230.
While Kansas mobile betting apps won't veer into homeowner odds, those stakes are generous for residents of the Sunflower State.
Methodology
To determine the how easy it is to buy property in Kansas, we considered four different factors for each US state:
• Income-house value ratio: The average household income divided by the average house value.
• House price growth: The percentage increase in price of an average house over the past five years.
• Households per 1,000 people: Calculated by dividing the number of households by the population, and then multiplying by 1,000.
• Home ownership rate: The percentage of homes in each state that are owner-occupied.
Data for these factors was collected and normalized, to give each factor an indexed value between 0 and 1. These values were then summed, to provide a total score out of four for each state. The states were then ranked from highest to lowest based on this score.
To determine your odds of owning a home in Kansas, we looked at the home ownership implied percentage and equivalent moneyline odds.
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