Around the Nation -- Residential Real Estate Update - Kansas
By Jeff Adolph
State-by-state
Kansas is a Midwestern state situated in the central region of the United States, and is often referred to as the American Heartland. With a population of 2,688,418 this state is ranked as the 33rd largest in the U.S.
The economy of this region of the nation relies heavily on its agricultural outputs of sheep, cattle, wheat, hog, corn, cotton, salt and soybeans. Along with, industrial outputs of aircraft, chemicals, machinery, petroleum and mining. In fact, Kansas ranks 8th in the U.S for oil production.
Income tax in Kansas is separated into three taxation brackets and ranges from 3.5% through to 6.45%, and the state has a sales tax of 5.3%. Property tax is assessed at market value and as of the first day of January each year, with 'market value' being the value a well-informed buyer would pay for a property and a well-informed seller would expect to receive.
Kansas City
The median price for this region is around $125,000 and Kansas City represents a buyers market, with sellers having to be very competitive to get their desired price.
Homes in this area are typically on the market for 90-120 days and there are currently more sellers than buyers. Prices are up by 5% compared to last year and buyers are getting 80-85% of their asking price, with multiple offers being given.
LGBT Real Estate Facts: There are some 3,397 same-sex couples residing in this state, making it the 35th gayest state in the U.S.A. The gayest zip codes in this area are 66044 University - Lawrence; 67203 Downtown/Twin Lake - Wichita; 67401 Salina; 67208 Munger - Wichita; and 66102 Kansas City. -- gaydemographics.com
Main Story Source: House Hunt (2008) Real Estate Market Trends; available online at http://www.househunt.com
Picture Source: wikipedia.org
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