Housing Market Overview
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Anderson County | Kansas Avg | US Average |
|---|---|---|---|
| Median Home Price | $312,963 | $104,507 | $242,182 |
| Price Trend (Annual %) | 51.4% | 5.0% | 8.2% |
| Median Gross Rent | $792 | $1,029 | $1,342 |
| Rent Trend (Annual %) | 4.4% | 4.2% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Anderson County is about 199% higher than in Kansas. Rent is about 23% lower than the Kansas average.
Median Home and Rent Price Trends
Median Home Prices, 2016-2023
Median Rent Prices, 2015-2023
Both home prices and rent are rising in Anderson County, up about 51.4% and 4.4% a year respectively. Home prices are changing faster.
Median rent in Anderson County rose about 29.9% between 2015 and 2023, from $609 to $792. Over the same span, rent in Kansas rose about 35.9%.
Affordability
On average, housing unit costs 4.7 yearly household incomes in Anderson County.
Buying the median-priced home in Anderson County costs roughly 32.9 years of rent at the median monthly rate. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Anderson County. The price-to-rent ratio in Kansas is about 8.5.
| Metric | Anderson County | Kansas Avg | US Average |
|---|---|---|---|
| Median Home Price | $312,963 | $104,507 | $242,182 |
| Median Household Income | $66,399 | $72,682 | $78,145 |
| Price-to-Income Ratio | 4.7 | 1.4 | 3.1 |
Home Prices vs Income Over Time
Between 2016 and 2023, the median home price in Anderson County rose about 388.0%, while median household income rose about 65.0% between 2009 and 2023 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Anderson County | Kansas Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 74.7% | 60.4% | 58.2% |
| Rental Rate | 17.4% | 29.9% | 31.3% |
| Vacancy Rate | 7.9% | 9.7% | 10.6% |
| Median Tenure (years) | 17.0 | 14.0 | 15.0 |
| Median Year Moved In | 2009 | 2012 | 2011 |
Anderson County has a homeownership rate of 74.7%, higher than the Kansas average of 60.4%. Its housing vacancy rate is 7.9%, compared with 9.7% in Kansas.
Housing Stock
| Metric | Anderson County | Kansas Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.35 people | 2.45 people | 2.54 people |
| Median Structure Built Year | 1965 | 1974 | 1978 |
| Median Number of Rooms | 6.3 | 6.0 | 5.5 |
The typical housing unit in Anderson County was built around 1965. On average, 2.3 people live in a home with about 6.3 rooms, staying for about 17.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Anderson County, Kansas.
What is the median home price in Anderson County, Kansas?
The median home price in Anderson County, Kansas is $312,963, higher than the Kansas average of $104,507.
What is the average home price in Anderson County, Kansas?
The typical home price in %s, reported as the median sale price, is %s. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Anderson County, Kansas?
The median gross rent in Anderson County, Kansas is $792 per month, lower than the Kansas average of $1,029.
What was the median gross rent in Anderson County in 2020?
In 2020, the median gross rent in Anderson County, Kansas was $686 per month.
What is the price-to-rent ratio in Anderson County, Kansas?
The price-to-rent ratio in Anderson County, Kansas is about 32.9, meaning it would take roughly 32.9 years of rent payments at the median rent to equal the median home price. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Anderson County.
Are home prices or rent rising faster in Anderson County, Kansas?
Both home prices and rent are rising in Anderson County, up about 51.4% and 4.4% a year respectively. Home prices are changing faster.
What is the homeownership rate in Anderson County, Kansas?
74.7% of households in Anderson County, Kansas own their home, higher than the Kansas average of 60.4%.
What is the vacancy rate in Anderson County, Kansas?
The housing vacancy rate in Anderson County, Kansas is 7.9%, lower than the Kansas average of 9.7%.