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 | Miami County | Kansas Avg | US Average |
|---|---|---|---|
| Median Home Price | $77,678 | $104,507 | $242,182 |
| Price Trend (Annual %) | 1.6% | 5.0% | 8.2% |
| Median Gross Rent | $1,101 | $1,029 | $1,342 |
| Rent Trend (Annual %) | 4.7% | 4.2% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Miami County is about 26% lower than in Kansas. Rent is about 7% higher than the Kansas average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2023
Median Rent Prices, 2015-2023
Both home prices and rent are rising in Miami County, up about 1.6% and 4.7% a year respectively. Rent is changing faster.
Median rent in Miami County rose about 42.1% between 2015 and 2023, from $775 to $1,101. Over the same span, rent in Kansas rose about 35.9%.
Affordability
On average, housing unit costs 0.9 yearly household incomes in Miami County.
Buying the median-priced home in Miami County costs roughly 5.9 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 Miami County. The price-to-rent ratio in Kansas is about 8.5.
| Metric | Miami County | Kansas Avg | US Average |
|---|---|---|---|
| Median Home Price | $77,678 | $104,507 | $242,182 |
| Median Household Income | $89,912 | $72,682 | $78,145 |
| Price-to-Income Ratio | 0.9 | 1.4 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Miami County fell about 36.7%, while median household income rose about 50.1% 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 | Miami County | Kansas Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 74.5% | 60.4% | 58.2% |
| Rental Rate | 21.5% | 29.9% | 31.3% |
| Vacancy Rate | 4.0% | 9.7% | 10.6% |
| Median Tenure (years) | 16.0 | 14.0 | 15.0 |
| Median Year Moved In | 2010 | 2012 | 2011 |
Miami County has a homeownership rate of 74.5%, higher than the Kansas average of 60.4%. Its housing vacancy rate is 4.0%, compared with 9.7% in Kansas.
Housing Stock
| Metric | Miami County | Kansas Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.50 people | 2.45 people | 2.54 people |
| Median Structure Built Year | 1981 | 1974 | 1978 |
| Median Number of Rooms | 6.0 | 6.0 | 5.5 |
The typical housing unit in Miami County was built around 1981. On average, 2.5 people live in a home with about 6.0 rooms, staying for about 16.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Miami County, Kansas.
What is the median home price in Miami County, Kansas?
The median home price in Miami County, Kansas is $77,678, lower than the Kansas average of $104,507.
What is the average home price in Miami 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 Miami County, Kansas?
The median gross rent in Miami County, Kansas is $1,101 per month, higher than the Kansas average of $1,029.
What was the median gross rent in Miami County in 2020?
In 2020, the median gross rent in Miami County, Kansas was $954 per month.
What is the price-to-rent ratio in Miami County, Kansas?
The price-to-rent ratio in Miami County, Kansas is about 5.9, meaning it would take roughly 5.9 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 Miami County.
Are home prices or rent rising faster in Miami County, Kansas?
Both home prices and rent are rising in Miami County, up about 1.6% and 4.7% a year respectively. Rent is changing faster.
What is the homeownership rate in Miami County, Kansas?
74.5% of households in Miami County, Kansas own their home, higher than the Kansas average of 60.4%.
What is the vacancy rate in Miami County, Kansas?
The housing vacancy rate in Miami County, Kansas is 4.0%, lower than the Kansas average of 9.7%.