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Old 02-01-2017, 08:30 AM
 
28 posts, read 14,115 times
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Quote:
Originally Posted by Bluefox View Post
I live in an upscale suburban-style apartment by Zona Rosa and I pay as much to live up here as I would in any comparable apartment complex in Overland Park.

For me, as a single person with no kids and not concerned about schools, it's really a wash between here and JoCo. I choose to live up here because it's very close to work and I avoid double taxation by living and working in MO. But I will say that controlling for those things, I would probably choose OP all things considered because it would be nice to be closer to Whole Foods and REI and JoCo has better restaurants overall than up here, even though traffic is far worse in JoCo than anywhere else in the metro. But really, the best part of the metro is the downtown area IMO.
FYI, there is no "double" taxation.

Kansas credits you for the taxes you pay toward Missouri and vice versa.
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Old 02-02-2017, 02:23 PM
 
Location: The Windy City
5,163 posts, read 2,843,175 times
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Rent prices in the Plaza and downtown areas have started to approach Chicago prices!
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Old 02-02-2017, 03:54 PM
 
Location: Washington, DC area
10,705 posts, read 18,488,746 times
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Quote:
Originally Posted by lepoisson View Post
Rent prices in the Plaza and downtown areas have started to approach Chicago prices!
I hope not ,or KC's urban core residential boom will be over before the first wave of new construction apartments open finish leasing.

KC is where Denver was about 15-20 years ago. It will be interesting to see if urban KCMO maintains the same momentum. If so, there will be a lot of tower cranes in KC in another 5-7 years.

As much as I would love to see KC keep their current momentum and see the numbers continue to go up ever year, there are some pretty huge obstacles that may keep it from being a short term growth spurt.

Downtown-Plaza corridor KC lacks jobs. You will eventually run low on people that are willing to drive to the suburbs for jobs.

KC lacks a fully functioning urban core transit system. The streetcar is a start, but till it's expanded to the Plaza and other major improvements are made that would make urban KC less car dependent and more walkable, residential growth could begin to stall.

Babyboomers are getting too old. It's not college kids driving most of the tower construction in cities, it's the older generations. KC is pretty late to the game of providing downtown housing for the large population of baby boomers. By the time KC gets were many cities were ten years ago, that demand will be much lower.

Will people in KC pay prices 2-3 times what they were paying just a few year ago? So far they are absorbing the huge increases, but without jobs, solid transit etc, I'm not sure rents can go much higher in KC without some push back.

2017-2018 will be VERY interesting for KC. There will be 1000's of high end apartments coming online in urban KC that will be renting for far above average KC rents. If kc people snap those up, the city will have a least a few years of ultra robust growth (larger, more expensive towers etc) like you see in Denver, Nashville, Austin, San Diego, Charlotte etc at least till things catch up with the problems above. Or the city could correct some of those problems and keep the growth going. Gonna need a lot more downtown jobs, more hotel rooms, better transit, more recreation etc though. That will take public investment and private company urban commitment which is not easy to get in KC.
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Old 02-02-2017, 05:10 PM
 
Location: First Hill, Seattle
5,468 posts, read 5,771,813 times
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Quote:
Originally Posted by Emissary View Post
FYI, there is no "double" taxation.

Kansas credits you for the taxes you pay toward Missouri and vice versa.
Yes, I know. But you have to wait until you file taxes to get that $$ back, at least that's the case for me as a W-2 employee.
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Old 02-02-2017, 08:31 PM
 
48,881 posts, read 39,370,650 times
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I've been told it's because of the schools by many people.

Those that really want education for their kids are willing to pay the higher rents.
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Old 02-02-2017, 08:33 PM
 
48,881 posts, read 39,370,650 times
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Quote:
Originally Posted by lepoisson View Post
Rent prices in the Plaza and downtown areas have started to approach Chicago prices!
Yes, but that's due to boomers and dinks and is a-typical.

Heck, I've looked at some of those recently.

But then again, I won't have kids in school and won't have to consider private school payments.
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Old 02-02-2017, 10:12 PM
 
Location: The Windy City
5,163 posts, read 2,843,175 times
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Quote:
Originally Posted by Mathguy View Post
Yes, but that's due to boomers and dinks and is a-typical.

Heck, I've looked at some of those recently.

But then again, I won't have kids in school and won't have to consider private school payments.
Yeah, it's very strange! I've been looking at apartments around the Plaza area and most 2br are around $1500. Units in the Western Auto building are around $1200 for a 1br and $1400 for 2br. That's pretty much on par with Chicago prices outside of downtown. It's also around the same price as the desirable areas in Dallas.
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Old 02-02-2017, 10:43 PM
 
48,881 posts, read 39,370,650 times
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Quote:
Originally Posted by lepoisson View Post
Yeah, it's very strange! I've been looking at apartments around the Plaza area and most 2br are around $1500. Units in the Western Auto building are around $1200 for a 1br and $1400 for 2br. That's pretty much on par with Chicago prices outside of downtown. It's also around the same price as the desirable areas in Dallas.
Chicago must have a weaker renter market. I've seen condo prices there via a friend working in real estate and they seem pretty robust.

Property taxes (passed along) and fees might be the big difference maker?
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Old 02-03-2017, 07:24 AM
 
Location: The Windy City
5,163 posts, read 2,843,175 times
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Quote:
Originally Posted by Mathguy View Post
Chicago must have a weaker renter market. I've seen condo prices there via a friend working in real estate and they seem pretty robust.

Property taxes (passed along) and fees might be the big difference maker?
I think the main difference is selection and location. In KC, there are very few areas where you can have a safe "city" living experience. The River Market, Downtown, Westport ("city" to a certain degree), and Plaza offer a "city" living experience. What I mean by "city" is access to shops, restaurants, and other places on foot.

Most of the units are newer and luxury style, so they will demand premium prices. All of the other choices are suburbia, or neighborhoods where safety might be a concern.

Chicago is a larger city, has many more neighborhoods to choose from, has both older and newer units, and will therefore have rent prices that are more competitive.
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Old 02-05-2017, 11:20 AM
 
12,607 posts, read 14,605,815 times
Reputation: 14096
Quote:
Originally Posted by Bluefox View Post
Yes, I know. But you have to wait until you file taxes to get that $$ back, at least that's the case for me as a W-2 employee.
No different than people living in Kansas and working in Missouri who have to file and get $$ back from Missouri.
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