Reasonable overall cost-of-living (particularly moderate housing costs) are a particularly effective personnel recruiting and retention inducement
Even with its many amenities, Wichita's overall cost-of-living index is a very moderate 90.7, 9.3% below the national urban area average of 100.
Overall Cost of Living Index
|Oklahoma City, OK||84.6|
|St. Louis, MO-IL||90.4|
|Kansas City, MO-KS||93.1|
|Colorado Springs, CO||94.0|
|Orange County, CA||151.6|
Existing Single-Family Homes
Housing is a particular bargain in the Wichita market. The median selling price of existing (previously owned) single-family homes in the Wichita metro area was $135,700 in the third quarter 2016, according to the National Association of Realtors. Wichita ranked 27th lowest of 179 reporting metro areas and $105,500 or 44% below the national median price of $240,900.
Existing Single-Family Home Median Sales Price
|Saint Louis, MO-IL||$160,800|
|Kansas City, MO-KS||$179,200|
|Des Moines, IA||$184,300|
|Dallas-Fort Worth-Arlington, TX||$230,600|
|Colorado Springs, CO||$257,900|
|Los Angeles-Long Beach-Santa Ana, CA||$503,400|
Newly Built Single-Family Homes
Newly-built home prices are also quite reasonable. The annual average 2016 sale price of newly built single-family homes in the Wichita metro area was $231,316. That is $95,683 or 29% below the corresponding national figure of $326,999.
Wichita area apartment rent is also very reasonable. Average two-bedroom apartment rent was $700 in the 2016 annual average (ACCRA survey). That is $308 or nearly 30.6% lower than the national figure of $1,008.
Two-Bedroom Apartment Average Rent
|Oklahoma City, OK||$818|
|St. Louis, MO-IL||$864|
|Kansas City, MO-KS||$884|
|Colorado Springs, CO||$1,104|
|Orange County, CA||$2,190|