When you're thinking about moving to a new city, it can be difficult to choose which one is the best fit for you. Obviously you want the best value you can manage on your budget, but how do you tell which city can provide it? How does a house for sale in Scarborough, Ontario compare with a house for sale in Ontario, California? Therefore if you are considering buying Wichita real estate you may be interested in looking at how the housing market compares to other cities. Rather than making you do all the research yourself, we've compiled this article on how Wichita compares to several other major markets in the US and Canada.
Before we venture into other markets, let us establish a base line by outlining the state of Wichita's real estate market with the help of statistics. That way when we start speaking of prices on homes in Brampton you'll have something to relate it to.
The average prices for homes in Wichita, Kansas are as follows:
For all homes taken together: $131,467
For all single family detached homes: $137, 583
For all town houses: $100,893
For all duplexes: $108,349
For all condos: $94,624
For all monthly rents: $756
When compared to the rest of Kansas as a whole, Wichita comes out at about average, though far below the value of Erin Homes in Ontario. The per capita income of Wichita residents is only about $200 below the per capita income for Kansas itself and the average price of a house or condo in Wichita is about $20,000 less than the average price of a house or condo in greater Kansas. When compared to Overland Park, the next largest city in Kansas, average home values in Wichita trail its more prosperous neighbor by over $132,000.
Here is how Wichita stacks up against major US markets. Prices are the combined average of every home sale. Whitby and other Canadian markets do not appear on this list.
Buffalo, New York: $89,387. Trails Wichita by 35%.
Fremont, California: $719,037. Leads Wichita by over 80%.
Arlington, Texas: $147, 622. Leads Wichita by less than 7%.
Spokane, Washington: $193,826. Leads Wichita by about 30%.
Tampa, Florida: $313, 130. Leads Wichita by 56%.
Worcester, Massachusetts: $266,892. Leads Wichita by 48%.
Norfolk, Virginia: $265,642. Leads Wichita by 48%.
Minneapolis, Minnesota: $281,128. Leads Wichita by 51%.
When we get into Canadian markets there are additional factors to consider. For example, a house for sale in Mississauga cannot be directly compared to a house for sale in Wichita because of the difference between the two currencies, which fluctuates on a regular basis. Keeping in mind this factor, however, here are some markets in Canada to which you can compare Wichita's market. Prices are in Canadian dollars on a standard sized two-storey house, which means 3 bedrooms and detached garage with small yard.
Halifax, Nova Scotia: $210,000
Moncton, New Brunswick: $134,200
Montreal, Quebec: $277,000
Mississauga, Ontario: $331,000
Winnipeg, Manitoba: $250,000
Calgary, Alberta: $350,000
Surrey, British Columbia: $390,000
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