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 | Reno County | Kansas Avg | US Average |
|---|---|---|---|
| Median Home Price | $78,571 | $104,507 | $242,182 |
| Price Trend (Annual %) | 3.8% | 5.0% | 8.2% |
| Median Gross Rent | $856 | $1,029 | $1,342 |
| Rent Trend (Annual %) | 3.5% | 4.2% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Reno County is about 25% lower than in Kansas. Rent is about 17% 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 Reno County, up about 3.8% and 3.5% a year respectively. Home prices are changing faster.
Median rent in Reno County rose about 28.6% between 2015 and 2023, from $666 to $856. Over the same span, rent in Kansas rose about 35.9%.
Affordability
On average, housing unit costs 1.3 yearly household incomes in Reno County.
Buying the median-priced home in Reno County costs roughly 7.6 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 Reno County. The price-to-rent ratio in Kansas is about 8.5.
| Metric | Reno County | Kansas Avg | US Average |
|---|---|---|---|
| Median Home Price | $78,571 | $104,507 | $242,182 |
| Median Household Income | $60,724 | $72,682 | $78,145 |
| Price-to-Income Ratio | 1.3 | 1.4 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Reno County rose about 21.5%, while median household income rose about 46.7% 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 | Reno County | Kansas Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 62.0% | 60.4% | 58.2% |
| Rental Rate | 27.6% | 29.9% | 31.3% |
| Vacancy Rate | 10.5% | 9.7% | 10.6% |
| Median Tenure (years) | 16.0 | 14.0 | 15.0 |
| Median Year Moved In | 2010 | 2012 | 2011 |
Reno County has a homeownership rate of 62.0%, higher than the Kansas average of 60.4%. Its housing vacancy rate is 10.5%, compared with 9.7% in Kansas.
Housing Stock
| Metric | Reno County | Kansas Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.30 people | 2.45 people | 2.54 people |
| Median Structure Built Year | 1964 | 1974 | 1978 |
| Median Number of Rooms | 5.9 | 6.0 | 5.5 |
The typical housing unit in Reno County was built around 1964. On average, 2.3 people live in a home with about 5.9 rooms, staying for about 16.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Reno County, Kansas.
What is the median home price in Reno County, Kansas?
The median home price in Reno County, Kansas is $78,571, lower than the Kansas average of $104,507.
What is the average home price in Reno 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 Reno County, Kansas?
The median gross rent in Reno County, Kansas is $856 per month, lower than the Kansas average of $1,029.
What was the median gross rent in Reno County in 2020?
In 2020, the median gross rent in Reno County, Kansas was $741 per month.
What is the price-to-rent ratio in Reno County, Kansas?
The price-to-rent ratio in Reno County, Kansas is about 7.6, meaning it would take roughly 7.6 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 Reno County.
Are home prices or rent rising faster in Reno County, Kansas?
Both home prices and rent are rising in Reno County, up about 3.8% and 3.5% a year respectively. Home prices are changing faster.
What is the homeownership rate in Reno County, Kansas?
62.0% of households in Reno County, Kansas own their home, higher than the Kansas average of 60.4%.
What is the vacancy rate in Reno County, Kansas?
The housing vacancy rate in Reno County, Kansas is 10.5%, higher than the Kansas average of 9.7%.