Renter percentages in Leawood have shown a slight increase, rising from 10% in 2013 to 12% in 2022. Concurrently, average rent prices have also increased. In 2013, the average rent was $1,529, which grew to $1,811 by 2022, marking an 18.4% increase over nine years. This rise in both renter percentages and rent prices could be attributed to the city's growing population, which increased from 36,417 in 2013 to 39,184 in 2022, potentially creating more demand for rental properties.

Looking at the most recent data, the average home price in Leawood reached $689,220 in 2023 and further increased to $718,866 in 2024. This represents a significant jump of 11% from 2022 to 2024. Interestingly, this rapid price growth occurred despite a substantial increase in federal interest rates, which rose from 1.68% in 2022 to 5.02% in 2023 and 5.33% in 2024. This suggests that Leawood's housing market remains robust even in the face of higher borrowing costs.

Applying predictive models to forecast 5-year trends, we anticipate that average home prices in Leawood will continue to rise, albeit at a potentially slower rate due to higher interest rates. We project that by 2029, the average home price could reach approximately $850,000 to $900,000. For rent prices, the upward trend is likely to continue, with average rents potentially reaching $2,100 to $2,300 by 2029.

In summary, Leawood's real estate market has demonstrated strong growth in both home values and rent prices over the past decade. While homeownership rates have remained high, there has been a slight shift towards renting. The city's desirability, coupled with population growth, has contributed to rising property values even in the face of increasing interest rates. As Leawood continues to evolve, it is likely to maintain its status as an attractive, albeit increasingly expensive, suburban community.