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 | Hodgeman County | Kansas Avg | US Average |
|---|---|---|---|
| Median Home Price | $70,714 | $104,507 | $242,182 |
| Price Trend (Annual %) | 15.7% | 5.0% | 8.2% |
| Median Gross Rent | $900 | $1,029 | $1,342 |
| Rent Trend (Annual %) | 6.0% | 4.2% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Hodgeman County is about 32% lower than in Kansas. Rent is about 13% 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 Hodgeman County, up about 15.7% and 6.0% a year respectively. Home prices are changing faster.
Median rent in Hodgeman County rose about 58.9% between 2015 and 2023, from $566 to $900. Over the same span, rent in Kansas rose about 35.9%.
Affordability
On average, housing unit costs 1.1 yearly household incomes in Hodgeman County.
Buying the median-priced home in Hodgeman County costs roughly 6.5 years of rent at the median monthly rate. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Hodgeman County. The price-to-rent ratio in Kansas is about 8.5.
| Metric | Hodgeman County | Kansas Avg | US Average |
|---|---|---|---|
| Median Home Price | $70,714 | $104,507 | $242,182 |
| Median Household Income | $64,322 | $72,682 | $78,145 |
| Price-to-Income Ratio | 1.1 | 1.4 | 3.1 |
Home Prices vs Income Over Time
Between 2016 and 2023, the median home price in Hodgeman County fell about 1.8%, while median household income rose about 54.1% between 2009 and 2023 — income grew faster than the home price.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Hodgeman County | Kansas Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 66.3% | 60.4% | 58.2% |
| Rental Rate | 15.5% | 29.9% | 31.3% |
| Vacancy Rate | 18.2% | 9.7% | 10.6% |
| Median Tenure (years) | 21.0 | 14.0 | 15.0 |
| Median Year Moved In | 2005 | 2012 | 2011 |
Hodgeman County has a homeownership rate of 66.3%, higher than the Kansas average of 60.4%. Its housing vacancy rate is 18.2%, compared with 9.7% in Kansas.
Housing Stock
| Metric | Hodgeman County | Kansas Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.48 people | 2.45 people | 2.54 people |
| Median Structure Built Year | 1960 | 1974 | 1978 |
| Median Number of Rooms | 6.6 | 6.0 | 5.5 |
The typical housing unit in Hodgeman County was built around 1960. On average, 2.5 people live in a home with about 6.6 rooms, staying for about 21.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Hodgeman County, Kansas.
What is the median home price in Hodgeman County, Kansas?
The median home price in Hodgeman County, Kansas is $70,714, lower than the Kansas average of $104,507.
What is the average home price in Hodgeman 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 Hodgeman County, Kansas?
The median gross rent in Hodgeman County, Kansas is $900 per month, lower than the Kansas average of $1,029.
What was the median gross rent in Hodgeman County in 2020?
In 2020, the median gross rent in Hodgeman County, Kansas was $750 per month.
What is the price-to-rent ratio in Hodgeman County, Kansas?
The price-to-rent ratio in Hodgeman County, Kansas is about 6.5, meaning it would take roughly 6.5 years of rent payments at the median rent to equal the median home price. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Hodgeman County.
Are home prices or rent rising faster in Hodgeman County, Kansas?
Both home prices and rent are rising in Hodgeman County, up about 15.7% and 6.0% a year respectively. Home prices are changing faster.
What is the homeownership rate in Hodgeman County, Kansas?
66.3% of households in Hodgeman County, Kansas own their home, higher than the Kansas average of 60.4%.
What is the vacancy rate in Hodgeman County, Kansas?
The housing vacancy rate in Hodgeman County, Kansas is 18.2%, higher than the Kansas average of 9.7%.