This article was originally published by the Wichita Business Journal newspaper on December 5, 2017

Wichita rents remain flat, Apartment List report shows

By Bryan Horwath

Wichita rents remained basically flat in November, according to a monthly report from search website Apartment List.

The website reports that rents in Wichita remained flat month-over-month in November, jumped about 1 percent from the same month in 2016.

Apartment List shows Wichita's median monthly rent for a two-bedroom unit as $740, about $400 less than the national average. In San Francisco, the median monthly price for a two-bedroom apartment is $3,050, according to the website.

"Negative rent growth is typical this time of year," says Sydney Bennet, an Apartment List research analyst. "Rents decreased in 66 of the 100 largest U.S. cities over the past month."

Wichita apartment developer Jason Van Sickle says the Wichita rental market is in a good place, despite the stagnant growth of rents.

"We've had about a 60-year trend of a 90-to-100 percent occupancy rate in Wichita," Van Sickle says. "The market has been kind of shifting, but it's still very healthy, I think. Any increase in rents has flattened out partly because of incentives being offered by developers."