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 | Morton County | Kansas Avg | US Average |
|---|---|---|---|
| Median Home Price | $92,941 | $104,507 | $242,182 |
| Price Trend (Annual %) | 8.1% | 5.0% | 8.2% |
| Median Gross Rent | $636 | $1,029 | $1,342 |
| Rent Trend (Annual %) | 1.9% | 4.2% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Morton County is about 11% lower than in Kansas. Rent is about 38% 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 Morton County, up about 8.1% and 1.9% a year respectively. Home prices are changing faster.
Median rent in Morton County rose about 6.3% between 2015 and 2023, from $598 to $636. Over the same span, rent in Kansas rose about 35.9%.
Affordability
On average, housing unit costs 1.5 yearly household incomes in Morton County.
Buying the median-priced home in Morton County costs roughly 12.2 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 Morton County. The price-to-rent ratio in Kansas is about 8.5.
| Metric | Morton County | Kansas Avg | US Average |
|---|---|---|---|
| Median Home Price | $92,941 | $104,507 | $242,182 |
| Median Household Income | $63,139 | $72,682 | $78,145 |
| Price-to-Income Ratio | 1.5 | 1.4 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Morton County rose about 70.1%, while median household income rose about 50.9% 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 | Morton County | Kansas Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 56.6% | 60.4% | 58.2% |
| Rental Rate | 15.6% | 29.9% | 31.3% |
| Vacancy Rate | 27.8% | 9.7% | 10.6% |
| Median Tenure (years) | 20.0 | 14.0 | 15.0 |
| Median Year Moved In | 2006 | 2012 | 2011 |
Morton County has a homeownership rate of 56.6%, lower than the Kansas average of 60.4%. Its housing vacancy rate is 27.8%, compared with 9.7% in Kansas.
Housing Stock
| Metric | Morton County | Kansas Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.71 people | 2.45 people | 2.54 people |
| Median Structure Built Year | 1970 | 1974 | 1978 |
| Median Number of Rooms | 6.0 | 6.0 | 5.5 |
The typical housing unit in Morton County was built around 1970. On average, 2.7 people live in a home with about 6.0 rooms, staying for about 20.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Morton County, Kansas.
What is the median home price in Morton County, Kansas?
The median home price in Morton County, Kansas is $92,941, lower than the Kansas average of $104,507.
What is the average home price in Morton 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 Morton County, Kansas?
The median gross rent in Morton County, Kansas is $636 per month, lower than the Kansas average of $1,029.
What was the median gross rent in Morton County in 2020?
In 2020, the median gross rent in Morton County, Kansas was $603 per month.
What is the price-to-rent ratio in Morton County, Kansas?
The price-to-rent ratio in Morton County, Kansas is about 12.2, meaning it would take roughly 12.2 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 Morton County.
Are home prices or rent rising faster in Morton County, Kansas?
Both home prices and rent are rising in Morton County, up about 8.1% and 1.9% a year respectively. Home prices are changing faster.
What is the homeownership rate in Morton County, Kansas?
56.6% of households in Morton County, Kansas own their home, lower than the Kansas average of 60.4%.
What is the vacancy rate in Morton County, Kansas?
The housing vacancy rate in Morton County, Kansas is 27.8%, higher than the Kansas average of 9.7%.