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 | Morris County | Kansas Avg | US Average |
|---|---|---|---|
| Median Home Price | $63,500 | $104,507 | $242,182 |
| Price Trend (Annual %) | 2.3% | 5.0% | 8.2% |
| Median Gross Rent | $711 | $1,029 | $1,342 |
| Rent Trend (Annual %) | 4.3% | 4.2% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Morris County is about 39% lower than in Kansas. Rent is about 31% lower 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 Morris County, up about 2.3% and 4.3% a year respectively. Rent is changing faster.
Median rent in Morris County rose about 14.9% between 2015 and 2023, from $618 to $711. Over the same span, rent in Kansas rose about 35.9%.
Affordability
On average, housing unit costs 1.1 yearly household incomes in Morris County.
Buying the median-priced home in Morris County costs roughly 7.4 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 Morris County. The price-to-rent ratio in Kansas is about 8.5.
| Metric | Morris County | Kansas Avg | US Average |
|---|---|---|---|
| Median Home Price | $63,500 | $104,507 | $242,182 |
| Median Household Income | $57,512 | $72,682 | $78,145 |
| Price-to-Income Ratio | 1.1 | 1.4 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Morris County fell about 50.6%, while median household income rose about 45.7% 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 | Morris County | Kansas Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 66.1% | 60.4% | 58.2% |
| Rental Rate | 17.4% | 29.9% | 31.3% |
| Vacancy Rate | 16.4% | 9.7% | 10.6% |
| Median Tenure (years) | 16.0 | 14.0 | 15.0 |
| Median Year Moved In | 2010 | 2012 | 2011 |
Morris County has a homeownership rate of 66.1%, higher than the Kansas average of 60.4%. Its housing vacancy rate is 16.4%, compared with 9.7% in Kansas.
Housing Stock
| Metric | Morris County | Kansas Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.12 people | 2.45 people | 2.54 people |
| Median Structure Built Year | 1953 | 1974 | 1978 |
| Median Number of Rooms | 6.4 | 6.0 | 5.5 |
The typical housing unit in Morris County was built around 1953. On average, 2.1 people live in a home with about 6.4 rooms, staying for about 16.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Morris County, Kansas.
What is the median home price in Morris County, Kansas?
The median home price in Morris County, Kansas is $63,500, lower than the Kansas average of $104,507.
What is the average home price in Morris 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 Morris County, Kansas?
The median gross rent in Morris County, Kansas is $711 per month, lower than the Kansas average of $1,029.
What was the median gross rent in Morris County in 2020?
In 2020, the median gross rent in Morris County, Kansas was $606 per month.
What is the price-to-rent ratio in Morris County, Kansas?
The price-to-rent ratio in Morris County, Kansas is about 7.4, meaning it would take roughly 7.4 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 Morris County.
Are home prices or rent rising faster in Morris County, Kansas?
Both home prices and rent are rising in Morris County, up about 2.3% and 4.3% a year respectively. Rent is changing faster.
What is the homeownership rate in Morris County, Kansas?
66.1% of households in Morris County, Kansas own their home, higher than the Kansas average of 60.4%.
What is the vacancy rate in Morris County, Kansas?
The housing vacancy rate in Morris County, Kansas is 16.4%, higher than the Kansas average of 9.7%.