Airbnb City Guide: The Best Places To Invest in Kansas City, Missouri

Airbnb Rules and Regulations in Kansas City, Missouri

As of 2024, Kansas City has implemented stricter regulations on short-term rentals to balance the interests of hosts and residents. Non-resident short-term rentals are no longer permitted in residential districts, although previously approved ones can continue operating. All short-term rentals must obtain an annual permit from the city, meet zoning and density requirements, and certify compliance with safety standards.

Hosts are required to keep records of complaints and collect the city's 7.5% transient boarding tax and $3 per night occupancy fee from guests. Failure to comply can result in fines of up to $1,000 per violation and permit revocation. The city has also moved oversight of short-term rentals to the Neighborhoods Department to improve enforcement of the new rules.

Kansas City Airbnb Market Data:

• Average Revenue – $22.7K per year
• Average Daily Rate – $131.8 per night
• Average Occupancy Rate – 57%
• Average RevPAR – $76.7
• Average Home Prices – $230,526

1. Top Place to Invest in Kansas City, Missouri - Midtown

Midtown, the heart of Kansas City, is a vibrant and eclectic neighborhood that seamlessly blends history, culture, and modern amenities. This diverse area attracts a wide range of residents and visitors, making it an ideal location for Airbnb investors seeking a profitable venture in the heart of the city.

Midtown Airbnb Market Data:

• Average Revenue – $23.2K per year
• Average Daily Rate – $136.7 per night
• Average Occupancy Rate – 54%
• Average RevPAR – $75.3

Convenience - 8/10

Midtown's central location offers unparalleled convenience, with easy access to public transportation, major highways, and a plethora of shops, restaurants, and services. The neighborhood's walkability and bike-friendly streets make it easy for residents and visitors to navigate the area without relying on a car.

Tourist Attractions - 7/10

While Midtown may not boast as many iconic tourist attractions as some other areas of Kansas City, it still offers a unique charm that draws visitors. The Nelson-Atkins Museum of Art, Kemper Museum of Contemporary Art, and the historic Westport district are just a few of the notable attractions in the area.

Things to Do - 9/10

Midtown is a hub of activity, offering a wide range of entertainment options for all ages and interests. From trendy cafes and bars to live music venues and theaters, there's always something happening in this lively neighborhood. The area also boasts numerous parks, including the popular Penn Valley Park, which offers stunning city skyline views.

Average Home Prices - 6/10

According to Zillow data for 2024, the median home value in Midtown is $325,000, which represents a modest 2.5% appreciation rate over the past year. While this may not be the most affordable area in Kansas City, the potential for strong rental income and long-term appreciation makes it an attractive option for investors.

Proximity to Work-Related Travel - 9/10

Midtown's strategic location makes it an ideal base for work-related travel. The neighborhood is just minutes away from major employers, including hospitals, universities, and corporate offices, making it a great location for a corporate rental. Additionally, the Kansas City Convention Center and numerous sports venues are easily accessible from Midtown, making it a convenient choice for business travelers and event attendees.

X-Factor - 8/10

What sets Midtown apart is its unique blend of history, diversity, and community spirit. The neighborhood's architecture spans from grand historic homes to modern apartments, creating a visually stunning and eclectic landscape. Midtown's diverse population and strong sense of community make it a welcoming and inclusive place to live and visit.

2. Top Place to Invest in Kansas City, Missouri - River Market

Nestled along the Missouri River, the River Market neighborhood is a thriving urban community combining a rich history and modern amenities. This vibrant area has undergone significant revitalization in recent years, making it an attractive option for starting an Airbnb for investors seeking a unique and profitable investment opportunity in Kansas City.

River Market Airbnb Market Data:

• Average Revenue – $24.3K per year
• Average Daily Rate – $136.4 per night
• Average Occupancy Rate – 54%
• Average RevPAR – $68.1

Convenience - 9/10

River Market's location is one of its greatest assets, offering easy access to downtown Kansas City, major highways, and public transportation. The neighborhood is highly walkable, with a variety of shops, restaurants, and services within easy reach. The City Market, a year-round farmers market, is a popular destination for both locals and visitors.

Tourist Attractions - 8/10

The River Market area boasts several notable tourist attractions, including the Arabia Steamboat Museum, which showcases artifacts from a sunken steamboat, and the Berkley Riverfront Park, which offers stunning views of the Missouri River and downtown skyline. The neighborhood's proximity to downtown Kansas City also makes it easy for visitors to access other popular attractions.

Things to Do - 7/10

While the River Market may not have as many entertainment options as some other Kansas City neighborhoods, it still offers a unique charm and plenty of things to do. The City Market is a hub of activity, with live music, events, and a variety of vendors selling fresh produce, crafts, and prepared foods. The neighborhood also has a growing number of restaurants, bars, and shops.

Average Home Prices - 7/10

According to Zillow data for 2024, the median home value in the River Market is $350,000, which represents a 3.5% appreciation rate over the past year. While this may be slightly higher than some other areas of Kansas City, the potential for strong rental income and long-term appreciation makes it a solid investment option.

Proximity to Work-Related Travel - 8/10

The River Market's proximity to downtown Kansas City makes it ideal for work-related travel. The neighborhood is just minutes away from major employers, including government offices, financial institutions, and corporate headquarters. The Kansas City Convention Center is also easily accessible from the River Market.

X-Factor - 9/10

What sets the River Market apart is its unique blend of history, culture, and community. The neighborhood's architecture includes beautifully restored warehouses and new developments, creating a visually stunning and eclectic landscape. The River Market's strong sense of community and commitment to sustainability make it a welcoming and forward-thinking place to live and visit.

3. Top Place to Invest in Kansas City, Missouri - Scarritt Point

Scarritt Point, a historic neighborhood in Kansas City's Northeast area, offers a unique blend of architectural charm, convenient location, and community spirit. This hidden gem is an attractive option for establishing a short-term rental and presents a distinctive and profitable investment opportunity in a neighborhood that's on the rise.

Scarritt Point Airbnb Market Data:

• Average Revenue – $20.8K per year
• Average Daily Rate – $145.4 per night
• Average Occupancy Rate – 46%
• Average RevPAR – $68

Convenience - 8/10

Scarritt Point's proximity to downtown Kansas City is one of its greatest assets, providing easy access to major highways, public transportation, and a variety of dining, shopping, and entertainment options. The neighborhood's walkability and stunning views of the Missouri River and Cliff Drive make it an appealing choice for both residents and visitors.

Tourist Attractions - 6/10

While Scarritt Point itself may not boast many iconic tourist attractions, its location near notable landmarks such as the Kansas City Museum and the historic Northeast area provides visitors with plenty of opportunities to explore the city's rich history and culture. The neighborhood's architectural beauty and unique character also serve as a draw for those seeking an authentic Kansas City experience.

Things to Do - 5/10

Scarritt Point's charm lies in its residential character, but the neighborhood still offers a few notable attractions. The Kansas City Museum, housed in a stunning Beaux-Arts mansion, is a must-visit for history buffs. The nearby Cliff Drive State Scenic Byway provides a picturesque setting for outdoor enthusiasts. However, the area may not have as many entertainment options as some other Kansas City neighborhoods.

Average Home Prices - 7/10

According to Zillow data for 2024, the average home value in the 64124 zip code, which includes Scarritt Point, is $249,900. This represents a modest appreciation rate of 4.8% over the past year. While home prices in Scarritt Point may be slightly higher than some other areas of Kansas City, the neighborhood's historic charm and potential for strong rental income make it a solid investment option.

Proximity to Work-Related Travel - 6/10

Scarritt Point's location near downtown Kansas City provides relatively easy access to major employers, hospitals, and the Kansas City Convention Center. However, the neighborhood's distance from some of the city's key sports venues and other major work-related travel destinations may be a slight drawback for some investors.

X-Factor - 9/10

What sets Scarritt Point apart is its unique blend of history, architecture, and community spirit. The neighborhood's stunning Victorian homes, many of which have been lovingly restored, create a visually striking and inviting atmosphere. Scarritt Point's strong sense of community and pride in its historic character make it a welcoming and desirable place to live and visit.

4. Top Place to Invest in Kansas City, Missouri - Hyde Park

Nestled in the heart of midtown Kansas City, Hyde Park is a historic neighborhood that seamlessly blends old-world charm with modern amenities. This vibrant community boasts diverse architectural styles, a strong sense of community, and a prime location, making it an attractive option for establishing a short-term rental business.

Hyde Park Airbnb Market Data:

• Average Revenue – $24.7K per year
• Average Daily Rate – 153.8$ per night
• Average Occupancy Rate – 57%
• Average RevPAR – $86.4

Convenience - 9/10

One of Hyde Park's greatest assets is its unbeatable location. Situated between the Country Club Plaza and downtown Kansas City, residents and visitors alike enjoy easy access to the city's best shopping, dining, and entertainment options. The neighborhood's walkability and proximity to public transportation make it a breeze to navigate without a car.

Tourist Attractions - 7/10

While Hyde Park may not be a major tourist destination, its central location is within minutes of Kansas City's top attractions. The nearby Nelson-Atkins Museum of Art, Kemper Museum of Contemporary Art, and the historic Westport district are just a few of the notable points of interest that draw visitors to the area.

Things to Do - 8/10

Hyde Park offers a plethora of activities for residents and visitors alike. The neighborhood's eponymous park features tennis courts, playgrounds, and picturesque picnic spots, perfect for enjoying the warmer months. The area also boasts diverse local shops, restaurants, and cafes, each contributing to the neighborhood's unique charm.

Average Home Prices - 7/10

According to Zillow data for 2024, the median home value in Hyde Park is $325,000, representing a modest 3.2% appreciation rate over the past year. While prices may be slightly higher than some other Kansas City neighborhoods, the area's historic homes and strong rental potential make it a solid investment opportunity for Airbnb investors.

Proximity to Work-Related Travel - 8/10

Hyde Park's central location makes it an ideal base for work-related travel. The neighborhood is just a short drive from major employers, hospitals, and the Kansas City Convention Center. Additionally, the nearby Crown Center and Union Station offer even more options for business travelers.

X-Factor - 9/10

What truly sets Hyde Park apart is its unique blend of history, architecture, and community spirit. The neighborhood's stunning array of historic homes, ranging from Victorian and Queen Anne to Craftsman and Tudor styles, creates a visually striking and inviting atmosphere. Hyde Park's strong sense of community and pride in its heritage make it a welcoming and desirable place to live and visit.

5. Top Place to Invest in Kansas City, Missouri - Willow Creek

Willow Creek, a charming suburban neighborhood in southern Kansas City, offers a tranquil and family-friendly atmosphere with easy access to the city's amenities. This well-established community features spacious homes, excellent schools, and plenty of green spaces, making it an attractive option for Airbnb investors targeting families and long-term stays.

Willow Creek Location Airbnb Market Data:

• Average Revenue – $27.3K per year
• Average Daily Rate – $138 per night
• Average Occupancy Rate – 66%
• Average RevPAR – $92.1

Convenience - 7/10

While Willow Creek may not have the same level of walkability as some urban neighborhoods, it still offers a convenient location. The area is just minutes from major highways, providing easy access to downtown Kansas City and other parts of the metro area. Residents can also find plenty of shopping, dining, and service options within a short drive.

Tourist Attractions - 4/10

As a primarily residential neighborhood, Willow Creek itself does not boast many tourist attractions. However, its proximity to some of Kansas City's top destinations, such as the Kansas City Zoo and Starlight Theatre, makes it a convenient base for exploring the city's offerings.

Things to Do - 6/10

Willow Creek's main appeal lies in its quiet, suburban lifestyle. The neighborhood features several parks and walking trails, perfect for outdoor enthusiasts and families. While the area may not have a bustling nightlife or a wide variety of entertainment options, it does offer a selection of local restaurants and shops that cater to the community's needs.

Average Home Prices - 8/10

According to Zillow data for 2024, the median home value in Willow Creek is $285,000, representing a steady 2.8% appreciation rate over the past year. This relatively affordable price point, combined with the neighborhood's spacious homes and strong rental potential for families, makes it an attractive investment opportunity for Airbnb investors.

Proximity to Work-Related Travel - 6/10

While Willow Creek may not be as centrally located as some other Kansas City neighborhoods, it still offers reasonable access to work-related travel destinations. Depending on traffic, the area is within a 20-30 minute drive of major employers, hospitals, and the Kansas City Convention Center.

X-Factor - 7/10

Willow Creek's main draw is its family-friendly atmosphere and suburban charm. The neighborhood's well-maintained homes, excellent schools, and a strong sense of community make it an appealing choice for families looking for a safe and comfortable place to stay. For Airbnb investors targeting this demographic, Willow Creek offers a unique opportunity to provide a home-away-from-home experience in a tranquil setting.