Dodge City, KS Housing Market

Market Overview

Dodge City, KS has a PropertyIQ Score of 12 out of 100, positioning it as a weak housing market. The top score drivers include 12-month home value momentum of 0.78%, 3-month home value momentum of -2.54%, a median days on market of 80 days, and a 16.4% share of listings with a price cut. The median home value is $207,860, which is $41,743 below the Kansas state average of $249,603. Median household income is $70,781, or $3,494 below the state average of $74,275. The unemployment rate is 3.8%, matching the state average.

The rental side shows more relative strength. The rent index is $1,174, which is $114 above the Kansas state average of $1,060. This means rents in Dodge City are higher than the state benchmark even though home values are lower. At the same time, the for-sale market appears slow: there are 119 homes for sale, the median days on market is 80 days, and 16.4% of listings have had a price cut. Home value year over year is essentially flat at -$4. Overall, the combination of weak price momentum, slower selling conditions, and a low PropertyIQ score points to a soft market for sellers and short-term appreciation.

Key Trends

One trend is cooling home value momentum. The 12-month momentum is positive at 0.78%, but the 3-month momentum is -2.54%. The year-over-year home value change is -$4, indicating that annual price movement is basically flat while the most recent quarter has turned negative. A second trend is relative rental strength. The rent index of $1,174 is $114 above the state average of $1,060, suggesting that rental pricing in Dodge City is holding up better than home values relative to Kansas benchmarks. A third trend is slower sales conditions. With a median days on market of 80 days and 16.4% of listings showing a price cut, the market is not moving quickly. The 119 homes for sale also give buyers more options and time. A fourth trend is mixed affordability. The median home value is $207,860, well below the state average of $249,603, while median household income is $70,781, below the state average of $74,275. The dollar gap between local and state home values is larger than the dollar gap between local and state incomes, which may help local affordability, but the unemployment rate is the same as the state at 3.8%, so labor market conditions are not a differentiator.

Who Is This Market For

This market may suit buyers and investors who prioritize affordability or rental income over rapid price growth. The median home value of $207,860 is $41,743 below the Kansas average, making it a lower-priced entry point for first-time buyers or budget-conscious owner-occupants. At the same time, the rent index of $1,174 is $114 above the state average, which may appeal to buy-and-hold investors interested in rental income. Because median household income is $70,781, below the state average, local buyers may face some income constraints, but the lower home values may help offset that. The market is less suited for short-term flippers or move-up buyers who need to sell quickly. The PropertyIQ Score of 12/100, the 3-month home value momentum of -2.54%, the 80-day median days on market, and the 16.4% share of listings with a price cut all suggest slow selling conditions and limited pricing power. Population growth data is not available, so buyer and investor expectations tied to population trends cannot be evaluated.

Outlook

The near-term outlook for Dodge City is cautious. The 3-month home value momentum of -2.54% and the 80-day median days on market indicate that demand is soft or that homes are taking longer to sell. The 16.4% share of listings with a price cut shows that some sellers are adjusting prices. However, the 12-month home value momentum is still slightly positive at 0.78%, and the year-over-year home value change is nearly flat at -$4, so the data does not point to a sharp decline. The unemployment rate of 3.8 matches the state average, and the rent index of $1,174 above the state average may provide some stability through rental demand. Without population growth data, longer-term demand trends remain unclear. Based on the current numbers, the market is likely to stay soft until price momentum improves or days on market shortens.