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 | Russell County | Kansas Avg | US Average |
|---|---|---|---|
| Median Home Price | $69,399 | $104,507 | $242,182 |
| Price Trend (Annual %) | 34.4% | 5.0% | 8.2% |
| Median Gross Rent | $721 | $1,029 | $1,342 |
| Rent Trend (Annual %) | 3.2% | 4.2% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Russell County is about 34% lower than in Kansas. Rent is about 30% 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 Russell County, up about 34.4% and 3.2% a year respectively. Home prices are changing faster.
Median rent in Russell County rose about 34.5% between 2015 and 2023, from $536 to $721. Over the same span, rent in Kansas rose about 35.9%.
Affordability
On average, housing unit costs 1.2 yearly household incomes in Russell County.
Buying the median-priced home in Russell County costs roughly 8.0 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 Russell County. The price-to-rent ratio in Kansas is about 8.5.
| Metric | Russell County | Kansas Avg | US Average |
|---|---|---|---|
| Median Home Price | $69,399 | $104,507 | $242,182 |
| Median Household Income | $55,861 | $72,682 | $78,145 |
| Price-to-Income Ratio | 1.2 | 1.4 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Russell County rose about 27.0%, while median household income rose about 54.9% 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 | Russell County | Kansas Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 64.3% | 60.4% | 58.2% |
| Rental Rate | 19.8% | 29.9% | 31.3% |
| Vacancy Rate | 15.9% | 9.7% | 10.6% |
| Median Tenure (years) | 16.0 | 14.0 | 15.0 |
| Median Year Moved In | 2010 | 2012 | 2011 |
Russell County has a homeownership rate of 64.3%, higher than the Kansas average of 60.4%. Its housing vacancy rate is 15.9%, compared with 9.7% in Kansas.
Housing Stock
| Metric | Russell County | Kansas Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.13 people | 2.45 people | 2.54 people |
| Median Structure Built Year | 1953 | 1974 | 1978 |
| Median Number of Rooms | 6.2 | 6.0 | 5.5 |
The typical housing unit in Russell County was built around 1953. On average, 2.1 people live in a home with about 6.2 rooms, staying for about 16.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Russell County, Kansas.
What is the median home price in Russell County, Kansas?
The median home price in Russell County, Kansas is $69,399, lower than the Kansas average of $104,507.
What is the average home price in Russell 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 Russell County, Kansas?
The median gross rent in Russell County, Kansas is $721 per month, lower than the Kansas average of $1,029.
What was the median gross rent in Russell County in 2020?
In 2020, the median gross rent in Russell County, Kansas was $650 per month.
What is the price-to-rent ratio in Russell County, Kansas?
The price-to-rent ratio in Russell County, Kansas is about 8.0, meaning it would take roughly 8.0 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 Russell County.
Are home prices or rent rising faster in Russell County, Kansas?
Both home prices and rent are rising in Russell County, up about 34.4% and 3.2% a year respectively. Home prices are changing faster.
What is the homeownership rate in Russell County, Kansas?
64.3% of households in Russell County, Kansas own their home, higher than the Kansas average of 60.4%.
What is the vacancy rate in Russell County, Kansas?
The housing vacancy rate in Russell County, Kansas is 15.9%, higher than the Kansas average of 9.7%.