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 | Norton County | Kansas Avg | US Average |
|---|---|---|---|
| Median Home Price | $177,500 | $104,507 | $242,182 |
| Price Trend (Annual %) | 16.6% | 5.0% | 8.2% |
| Median Gross Rent | $641 | $1,029 | $1,342 |
| Rent Trend (Annual %) | -0.4% | 4.2% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Norton County is about 70% higher than in Kansas. Rent is about 38% lower than the Kansas average.
Median Home and Rent Price Trends
Median Home Prices, 2019-2023
Median Rent Prices, 2015-2023
Home prices and rent are moving in opposite directions in Norton County: home prices rose about 16.6% a year while rent fell about 0.4% a year. That is an unusual pattern worth watching.
Median rent in Norton County fell about 0.8% between 2015 and 2023, from $646 to $641. Over the same span, rent in Kansas rose about 35.9%.
Affordability
On average, housing unit costs 3.5 yearly household incomes in Norton County.
Buying the median-priced home in Norton County costs roughly 23.1 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 Norton County. The price-to-rent ratio in Kansas is about 8.5.
| Metric | Norton County | Kansas Avg | US Average |
|---|---|---|---|
| Median Home Price | $177,500 | $104,507 | $242,182 |
| Median Household Income | $50,395 | $72,682 | $78,145 |
| Price-to-Income Ratio | 3.5 | 1.4 | 3.1 |
Home Prices vs Income Over Time
Between 2019 and 2023, the median home price in Norton County rose about 9.6%, while median household income rose about 44.3% 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 | Norton County | Kansas Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 63.6% | 60.4% | 58.2% |
| Rental Rate | 14.5% | 29.9% | 31.3% |
| Vacancy Rate | 21.9% | 9.7% | 10.6% |
| Median Tenure (years) | 17.0 | 14.0 | 15.0 |
| Median Year Moved In | 2009 | 2012 | 2011 |
Norton County has a homeownership rate of 63.6%, higher than the Kansas average of 60.4%. Its housing vacancy rate is 21.9%, compared with 9.7% in Kansas.
Housing Stock
| Metric | Norton County | Kansas Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.30 people | 2.45 people | 2.54 people |
| Median Structure Built Year | 1952 | 1974 | 1978 |
| Median Number of Rooms | 6.8 | 6.0 | 5.5 |
The typical housing unit in Norton County was built around 1952. On average, 2.3 people live in a home with about 6.8 rooms, staying for about 17.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Norton County, Kansas.
What is the median home price in Norton County, Kansas?
The median home price in Norton County, Kansas is $177,500, higher than the Kansas average of $104,507.
What is the average home price in Norton 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 Norton County, Kansas?
The median gross rent in Norton County, Kansas is $641 per month, lower than the Kansas average of $1,029.
What was the median gross rent in Norton County in 2020?
In 2020, the median gross rent in Norton County, Kansas was $604 per month.
What is the price-to-rent ratio in Norton County, Kansas?
The price-to-rent ratio in Norton County, Kansas is about 23.1, meaning it would take roughly 23.1 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 Norton County.
Are home prices or rent rising faster in Norton County, Kansas?
Home prices and rent are moving in opposite directions in Norton County: home prices rose about 16.6% a year while rent fell about 0.4% a year. That is an unusual pattern worth watching.
What is the homeownership rate in Norton County, Kansas?
63.6% of households in Norton County, Kansas own their home, higher than the Kansas average of 60.4%.
What is the vacancy rate in Norton County, Kansas?
The housing vacancy rate in Norton County, Kansas is 21.9%, higher than the Kansas average of 9.7%.