By Bob Ross, Greater Topeka Chamber of Commerce
The Topeka, Kansas, housing market continues to distinguish itself as one of the most competitive and resilient markets in the Midwest — offering a compelling case for developers seeking opportunity in a high-demand, undersupplied environment.
New data from the Sunflower Association of Realtors underscores that strength. In February, the Topeka metropolitan area recorded 166 home sales, matching the pace from the same period last year, with total sales volume reaching $33.9 million. The median home price stood at $184,000 (compared with the national average of $360,591), while homes sold in an average of just 13 days (compared with the national average of 39 days) — an exceptionally fast turnaround compared with peer markets.
Perhaps most notably, homes in Topeka sold for 100 percent of their list price and 98.7 percent of their original list price, a clear signal of strong buyer competition. By contrast, homes in the Greater Kansas City market took an average of 57 days to sell and closed at just 96.3 percent of original list price.
Taken together, the data paints a clear picture: Demand in Topeka is not only strong — it is accelerating.
Area employers frequently note that people move here for strong job opportunities, and GO Topeka is working closely with current developers to actively recruit new partners to keep pace with the demand for more housing.
That demand is driven by the region’s unique combination of affordability and economic growth. Topeka offers a significantly lower price point than many nearby metros, while still providing access to jobs, quality of life and regional connectivity. Additionally, the city sits at the center of a 500,000-person regional market spanning Topeka, Manhattan, Lawrence and Emporia, with more than 60,000 college students living within a 45-minute drive attending several key universities — an important pipeline of talent and potential future residents.
Recent national recognition reinforces these trends. In 2023, The Wall Street Journal and Realtor.com ranked Topeka as the nation’s top emerging housing market, citing its resilience amid rising interest rates and its relative affordability compared with larger metro areas. We have remained one of the top housing markets in the country for more than five years.
But while demand continues to rise, supply has not kept up.
Data from the Federal Reserve Bank of St. Louis shows that Shawnee County has experienced a roughly 66 percent decline in average annual housing permits compared with pre-2008 levels. Peer markets such as Johnson and Sedgwick counties have rebounded more strongly, highlighting a significant gap between demand and new construction in Topeka.
These numbers highlight the importance of creating developer-friendly policies that encourage homebuilders to continue increasing supply.
Local real estate professionals are seeing that need in real time, noting that homes priced appropriately move quickly and often have multiple interested buyers.
Development activity
One of the most significant projects underway is Union at Tower District, a $60 million affordable housing development led by The Annex Group. Located on Southeast Quincy Street near downtown, the project will deliver 250 units serving households earning between 30 and 60 percent of the area median income.
The development will include a mix of one-, two- and three-bedroom units across three buildings, along with amenities such as a community center, fitness center, playground, dog park and courtyard. With financing support from partners including Citi Community Capital, the Kansas Housing Resources Corp. and the City of Topeka, the project represents a major investment in housing.
Union at Tower District is expected to open in early 2027 and will play a key role in addressing affordability challenges, as more than one-third of local renters are currently considered cost-burdened.
At the same time, market-rate development is gaining traction — particularly downtown.
Flaherty & Collins Properties is advancing plans for The Hutch, a $50 million, 192-unit apartment community that will bring a new level of residential product to Topeka’s urban core. Located between Southwest Sixth and Seventh streets, the four-story development is designed as a “best-in-class” offering, featuring amenities like a rooftop lounge overlooking the Kansas Statehouse, a resort-style pool, fitness center and integrated retail space.
Construction is expected to begin in late 2026, with a phased opening anticipated approximately 20 months later.
The Hutch is designed to appeal to a broad demographic, including young professionals and empty nesters — further diversifying Topeka’s housing mix and supporting continued population growth.
Beyond residential development, broader commercial investment is reinforcing confidence in the market. Plans for the redevelopment of West Ridge Mall — spanning more than 1 million square feet — signal a major reimagining of one of the city’s key commercial corridors. The project will introduce new retail, green space and community-oriented design elements, helping to enhance the overall livability and attractiveness of the area.
For developers, these trends point to a market with strong fundamentals and clear opportunities.
For those looking to invest, Topeka offers a rare combination of affordability, demand and momentum. And as recent projects demonstrate, developers are taking notice.
Bob Ross is president of the Greater Topeka Chamber of Commerce. This article originally appeared in the May 2026 issue of Heartland Real Estate Business magazine.