Cost of living is higher than the rest of the shitty towns in Kansas because the quality of life is better. Median income is lower than Manhattan because Lawrence is nearly twice the size and has a higher low income population. It's more of a city as opposed to some shitty little podunk college town with a mall and zero character.
Lowrents population - 87k per wiki
MHK population - 56k per wiki
Not only is that not "nearly twice the size", but it's nowhere near being a "city".
Not surprisingly, Manhattan is currently growing four times faster than Lawrence, with that growth rate in MHK expected to increase over next 4-5 years as NBAF and related scientific industry get up and running. Growth rate in Lawrence has been declining steadily. All economic and demographic trends indicate Manhattan becoming the larger city within 5-10 years. K-State already has the largest on-campus student body in Kansas, and if enrollment trends at both KSU and KU hold, K-State will be the largest university in the state within 5 years. These are factual statements.
Scientific proof that Manhattan and K-State are the most popular places to be in Kansas.
Hopefully KU administration agrees with Beems that everything is great, that Lawrence/KU will always be "bigger and better", and they don't need to change a thing.