This Kansas City neighborhood ranked as one of the most affordable in the US, study says
Is Kansas City really affordable?
Well, it is home to one of the most affordable neighborhoods for renters in the United States, according to one new study.
Joybird, a blog and online shopping website for home decor, analyzed rental listing data by neighborhood across the 50 most populated U.S. cities by finding the lowest and highest average rent costs. The blog then compared each city's most and least expensive neighborhood to the local median income from the American Community Survey to find the rent-to-income ratio.
Kansas City's Broadway Gillham neighborhood was the fifth-most affordable neighborhood in the country, according to Joybird's data. The neighborhood spans from Broadway Boulevard to Gillham Road through 31st Street and West Armour Boulevard. Notable businesses inside the neighborhood include Costco, 241 Linwood Boulevard, and Gates Bar-B-Q, 3205 Main St.
The average monthly rent in Broadway Gillham is $1,016 and the rent-to-income ratio is 15.27%. The standard is 30%, meaning no more than 30% of a tenant's gross income should go to rent.
The most expensive neighborhood in Kansas City is the Crossroads, spanning from Broadway Boulevard and Oak Street through Truman Road, West 22nd Street and East 20th Street, near Jack Stack Barbecue's Freight House location. The average monthly rent in the Crossroads is $1,874.
Here's how the rest of the top 10 most affordable neighborhoods in the United States compare:
Milwaukee – Clarke Square, average monthly rent of $905 (14.10% rent-to-income ratio)
Minneapolis – Whittier, average monthly rent of $1,168 (14.74% rent-to-income ratio)
St. Louis – Dutchtown South, average monthly rent of $970 (14.88% rent-to-income ratio)
Jacksonville, Florida – Mid Westside, average monthly rent of $1,023 (15.93% rent-to-income ratio)
Cincinnati – West Price Hill, average monthly rent of $1,040 (16.03% rent-to-income ratio)
San Francisco – Tenderloin, average monthly rent of $1,740 (16.34% rent-to-income ratio)
Indianapolis – Near Northwest Riverside, average monthly rent of $1,067 (16.43% rent-to-income ratio)
Louisville, Kentucky – Old Louisville, average monthly rent of $951 (16.56% rent-to-income ratio)
Detroit – Durfee, average monthly rent of $1,018 (16.83% rent-to-income ratio)
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