WHAT MAKES KANSAS CITY’S ECONOMY GREAT?
The Kansas City metro has a population of 2.39 million people, and has had one of the highest growth rates in the Midwest. The region has experienced phenomenal corporate attraction and business growth, with companies across a range of economic sectors calling Kansas City home. The common thread has been the excellent value each company derived from the metro’s talented and deep workforce, diverse operating environments, low cost of living, and amazing work-life balance.
Kansas City’s economy is recognized as one of the nation’s most diverse with no economic sector comprising more than 15% of overall employment and is a national leader of several durable industries which are integral to regional economic growth. Furthermore, Kansas City has increasingly become a hub for startups and entrepreneurs that are attracted to the metro’s abundant talent pool and low office space costs.
KC AREA ACCOLADES
- Kansas City #1 – Best City in the U.S. for Remote Work, 2021 Lonely Planet, 2021
- Kansas City #3 – in the Nation for High Paying Occupations News & World Report, 2022
- Kansas City #3 – Cities for Tech Industry Growth KC Tech Council, 2021
- Kansas City #3 – Best-Paying Metros for Recent College Grads, Self Financial, 2021
- Kansas City #8 – America’s Hottest Job Markets, The Wall Street Journal, 2022
- Kansas City #10 – Best Cities to Visit in the World, Lonely Planet, 2024
- Kansas City – Best Places to Travel in the world for Big City Thrills, Travel & Leisure, 2024
- Overland Park #1 – Best Cities to Buy a House in America, Niche, 2022
- Overland Park #2 – Best Places to Raise a Family, Wallet Hub, 2022
- Overland Park #4 – Best Cities to Live in America, Niche, 2021
- Overland Park #7 – Best places to live in America, Money.com, 2021
- Overland Park #8 – Cities with the Best Public Schools in America, Niche, 2022
- Prairie Village #1 – Most Popular Market in the US, Zillow Group Inc., 2021
KC METRO STATISTICS
- 2,392,035 – Population (2024)
- 8.9% – Population Growth (2010-2021)
- 2,281,512 – Estimated 2026 Population
- 38.2 years old – Median Resident Age (2022)
- $324,307 – Avg. Current Home Price (2/2024)
- 42 – Colleges & Universities in the KC Area
- 3.1% – Unemployment Rate (2024)
- 45,000 – Acres of Metro Parks
- 25 million – Visitors Annually (2024)
HOUSING ECONOMIC OVERVIEW
2023 KC METRO AREA REAL ESTATE STATS
- 2,654 – Average Number of Home Sales Per Month
- 3.28 – Average Months’ Home Supply
- $346,433 – Average Home Sales Price
- $293,429 – Median Home Sales Price
- 37 – Average Number of Days on Market
- 98.66% – Average Percent of Original List Price Received
- 34,380 – Total Number of Home Sales
Housing data courtesy of KCRAR and the WSU Center for Real Estate.
INDUSTRY STRENGTH
- Biosciences – The Kansas City region is a proven global leader in animal health, drug development, diagnostics and clinical research, and its central location provides access to a vast network of companies, organizations and resources that support further growth in the industry.
- Distribution & E-commerce – The Kansas City region has successfully attracted eCommerce and distribution companies pledging to create more than 10,650 jobs. Current eCommerce and distribution companies in the Kansas City region include Amazon, Chewy, Malaleuca, Niagra Bottling, and Walgreens.
- Data Centers & Tech – Kansas City is an excellent market for technology services and data centers with an exceptionally deep talent pool, world-leading network infrastructure and a diverse operating environment. With over 5.5 million miles of fiber deployed, KC is the most connected region in the U.S.
- Financial Services – Kansas City has become a highly popularized region for corporate attraction and business growth. This growth has sparked demand for high-end financial support services making Kansas City an active Midwestern hub for banking, accounting, audit, taxes, billing, and advisory services.
- Architecture, Engineering & Building – A well-established culture of innovation and robust infrastructure has put Kansas City on the map as a nerve center for architecture, engineering, and construction services.
BIGGEST PRIVATE-SECTOR EMPLOYERS
- AventHealth – Health care system with two hospitals in the Kansas City area
- Amazon – Internet retailer, cloud computing giant and owner of Whole Foods Market
- Black & Veatch – Engineering, procurement, consulting, and construction company
- Burns & McDonnell – Engineering, construction, and architecture firm
- Children’s Mercy Kansas City – Nonprofit pediatric hospital providing care for children from birth through age 21
- Commerce Bank – Bank offering full line of banking services, including mortgage, payment solutions, investment management & securities brokerage
- FedEx Corp. – Multinational delivery services company
- Ford Kansas City Assembly Plant – Production facility for F-150 pickup, Ford Transit, and E-Transit vans
- Garmin LTD. – Provider of smartwatches and GPS-enabled products across diverse markets
- Hallmark Cards Inc. – Conglomerate of businesses, including Hallmark Global, Crown Media Family Networks, Crayola, and Crown Center
- HCA Midwest Health – Health care system consisting of hospitals, trauma centers, ERs, pediatrics, urgent care, surgery centers, and physicians’ offices
- Honeywell Federal Manufacturing & Technologies LLC – Manager & operator of the National Nuclear Security Administration’s Kansas City National Security Plant
- Hy-Vee Inc. – Grocery store chain
- Oracle Cerner – Health care technology, services, and support company
- Saint Luke’s Health System – Health care system consisting of 16 area hospital locations plus several primary and specialty care practices
- T-Mobile US Inc. – Wireless carrier, network provider, and telecommunications company
- UnitedHealth Group – Diversified health care company
- University Health – Academic medical center, two acute-care hospital health systems, centers for specialist, surgery, women’s & primary health
- UPS – Shipping and logistics company
- Walmart Inc. – Retailer
CONNECTIVITY & COMMUTING
- Air – The Kansas City International Airport made a $1.5 billion terminal renovation project. The new terminal, opened in 2023, and supports more efficient airline operations. The new airport also added many new seats and destinations, including many new nonstop destinations for passengers coming to and from KC.
- Fiber – The first city in the world to receive Google Fiber, Greater Kansas City enjoys the benefit of one of the world’s most advanced telecommunications networks. With over 5.5 million miles of fiber deployed, KC is the most connected region in the U.S.
- Highways – With 30% more interstate miles per capita than any other city in the world, the Kansas City metro area’s traffic flow offers drivers an efficient commute that average only 23 minutes, placing Kansas City among the nation’s top 10 cities for best commutes.
- KC Streetcar – Since opening in 2016, the Kansas City Streetcar has completed more than 10 million passenger trips, won numerous state and national awards, and has been credited with stimulating over $3 billion in active economic development in Downtown Kansas City.
