Market Report
Kansas City Multifamily Market Report
1Q 2026
Third Straight Year of Vacancy Decline
Prompts Greater Attention From Investors
Manufacturing and healthcare projects buttress favorable multifamily outlook. Kansas City’s suburban apartments have seen increased demand over the past two years, with vacancy in Platte and Clay counties and the greater Grandview area dropping by more than 200 basis points in that time. In 2026, multiple in-place tailwinds are poised to sustain rental demand in these submarkets. Panasonic’s battery manufacturing plant in De Soto has already generated around a quarter of its planned 4,000 permanent jobs, supporting current and future housing needs in certain western suburbs. The planned mixed-use redevelopment of Black & Veatch’s headquarters also stands to generate future housing demand in south Overland Park while also adding to multifamily inventory. This year, however, fewer units will open in total than in 2025, which will aid operations. Even in settings like Clay County, where local deliveries will pick up year-over-year, vacancy will likely remain relatively stable amid recent population gains.
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