Lee's Summit, Missouri Housing Market Prices
Lee's Summit Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 124% above the Missouri median$325,570
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Median rent 36% above the Missouri median$1,407
Housing Market Overview
| Metric | Lee's Summit | Missouri Avg | US Average |
|---|---|---|---|
| Median Home Price | $325,570 | $145,462 | $248,835 |
| Price Trend (Annual %) | 13.5% | 5.2% | 7.5% |
| Median Gross Rent | $1,407 | $1,033 | $1,407 |
| Rent Trend (Annual %) | 4.6% | 4.0% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Lee's Summit is about 124% higher than in Missouri. Rent is about 36% higher than the Missouri average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Lee's Summit, up about 13.5% and 4.6% a year respectively. Home prices are changing faster.
Median rent in Lee's Summit rose about 42.1% between 2015 and 2024, from $990 to $1,407. Over the same span, rent in Missouri rose about 38.6%.
Affordability
On average, housing unit costs 3.2 yearly household incomes in Lee's Summit.
Buying the median-priced home in Lee's Summit costs roughly 19.3 years of rent at the median monthly rate. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Lee's Summit. The price-to-rent ratio in Missouri is about 11.7.
| Metric | Lee's Summit | Missouri Avg | US Average |
|---|---|---|---|
| Median Home Price | $325,570 | $145,462 | $248,835 |
| Median Household Income | $100,652 | $70,801 | $80,455 |
| Price-to-Income Ratio | 3.2 | 2.1 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Lee's Summit rose about 116.5%, while median household income rose about 38.3% between 2009 and 2025 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Lee's Summit | Missouri Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 69.3% | 60.5% | 58.5% |
| Rental Rate | 26.3% | 28.3% | 31.2% |
| Vacancy Rate | 4.4% | 11.2% | 10.2% |
| Median Tenure (years) | 13.0 | 15.0 | 15.0 |
| Median Year Moved In | 2013 | 2011 | 2011 |
Lee's Summit has a homeownership rate of 69.3%, higher than the Missouri average of 60.5%. Its housing vacancy rate is 4.4%, compared with 11.2% in Missouri.
Housing Stock
| Metric | Lee's Summit | Missouri Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.50 people | 2.40 people | 2.53 people |
| Median Structure Built Year | 1992 | 1978 | 1978 |
| Median Number of Rooms | 6.3 | 5.7 | 5.5 |
The typical housing unit in Lee's Summit was built around 1992. On average, 2.5 people live in a home with about 6.3 rooms, staying for about 13.0 years on average.
Lee's Summit, MO Housing Compared With Nearby Cities
How Lee's Summit, MO compares with the 1 cities closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Lee's Summit, MO | 96,025 | $325,570 #1/2 | $1,407 #1/2 | 72.5% #1/2 |
| Raytown, MO | 28,527 | $190,789 | $1,215 | 65.0% |
Frequently Asked Questions
Common questions about the housing market in Lee's Summit, Missouri.
What is the median home price in Lee's Summit, Missouri?
The median home price in Lee's Summit, Missouri is $325,570, higher than the Missouri average of $145,462.
What is the average home price in Lee's Summit, Missouri?
The typical home price in Lee's Summit, Missouri, reported as the median sale price, is $325,570. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Lee's Summit, Missouri?
The median gross rent in Lee's Summit, Missouri is $1,407 per month, higher than the Missouri average of $1,033.
What was the median gross rent in Lee's Summit in 2020?
In 2020, the median gross rent in Lee's Summit, Missouri was $1,056 per month.
What is the price-to-rent ratio in Lee's Summit, Missouri?
The price-to-rent ratio in Lee's Summit, Missouri is about 19.3, meaning it would take roughly 19.3 years of rent payments at the median rent to equal the median home price. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Lee's Summit.
Are home prices or rent rising faster in Lee's Summit, Missouri?
Both home prices and rent are rising in Lee's Summit, up about 13.5% and 4.6% a year respectively. Home prices are changing faster.
What is the homeownership rate in Lee's Summit, Missouri?
69.3% of households in Lee's Summit, Missouri own their home, higher than the Missouri average of 60.5%.
What is the vacancy rate in Lee's Summit, Missouri?
The housing vacancy rate in Lee's Summit, Missouri is 4.4%, lower than the Missouri average of 11.2%.
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