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 | Andrew County | Missouri Avg | US Average |
|---|---|---|---|
| Median Home Price | $225,000 | $136,017 | $242,182 |
| Price Trend (Annual %) | 25.2% | 5.0% | 8.2% |
| Median Gross Rent | $944 | $995 | $1,342 |
| Rent Trend (Annual %) | 3.7% | 4.0% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Andrew County is about 65% higher than in Missouri. Rent is about 5% lower than the Missouri 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 Andrew County, up about 25.2% and 3.7% a year respectively. Home prices are changing faster.
Median rent in Andrew County rose about 30.2% between 2015 and 2023, from $725 to $944. Over the same span, rent in Missouri rose about 33.6%.
Affordability
On average, housing unit costs 3.0 yearly household incomes in Andrew County.
Buying the median-priced home in Andrew County costs roughly 19.9 years of rent at the median monthly rate. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Andrew County. The price-to-rent ratio in Missouri is about 11.4.
| Metric | Andrew County | Missouri Avg | US Average |
|---|---|---|---|
| Median Home Price | $225,000 | $136,017 | $242,182 |
| Median Household Income | $74,139 | $69,051 | $78,145 |
| Price-to-Income Ratio | 3.0 | 2.0 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Andrew County rose about 109.6%, while median household income rose about 39.6% 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 | Andrew County | Missouri Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 71.1% | 60.1% | 58.2% |
| Rental Rate | 21.3% | 28.4% | 31.3% |
| Vacancy Rate | 7.6% | 11.6% | 10.6% |
| Median Tenure (years) | 15.0 | 15.0 | 15.0 |
| Median Year Moved In | 2011 | 2011 | 2011 |
Andrew County has a homeownership rate of 71.1%, higher than the Missouri average of 60.1%. Its housing vacancy rate is 7.6%, compared with 11.6% in Missouri.
Housing Stock
| Metric | Andrew County | Missouri Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.57 people | 2.42 people | 2.54 people |
| Median Structure Built Year | 1967 | 1977 | 1978 |
| Median Number of Rooms | 5.9 | 5.7 | 5.5 |
The typical housing unit in Andrew County was built around 1967. On average, 2.6 people live in a home with about 5.9 rooms, staying for about 15.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Andrew County, Missouri.
What is the median home price in Andrew County, Missouri?
The median home price in Andrew County, Missouri is $225,000, higher than the Missouri average of $136,017.
What is the average home price in Andrew County, Missouri?
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 Andrew County, Missouri?
The median gross rent in Andrew County, Missouri is $944 per month, lower than the Missouri average of $995.
What was the median gross rent in Andrew County in 2020?
In 2020, the median gross rent in Andrew County, Missouri was $796 per month.
What is the price-to-rent ratio in Andrew County, Missouri?
The price-to-rent ratio in Andrew County, Missouri is about 19.9, meaning it would take roughly 19.9 years of rent payments at the median rent to equal the median home price. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Andrew County.
Are home prices or rent rising faster in Andrew County, Missouri?
Both home prices and rent are rising in Andrew County, up about 25.2% and 3.7% a year respectively. Home prices are changing faster.
What is the homeownership rate in Andrew County, Missouri?
71.1% of households in Andrew County, Missouri own their home, higher than the Missouri average of 60.1%.
What is the vacancy rate in Andrew County, Missouri?
The housing vacancy rate in Andrew County, Missouri is 7.6%, lower than the Missouri average of 11.6%.