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 | Bates County | Missouri Avg | US Average |
|---|---|---|---|
| Median Home Price | $95,918 | $136,017 | $242,182 |
| Price Trend (Annual %) | 7.5% | 5.0% | 8.2% |
| Median Gross Rent | $760 | $995 | $1,342 |
| Rent Trend (Annual %) | 3.1% | 4.0% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Bates County is about 29% lower than in Missouri. Rent is about 24% 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 Bates County, up about 7.5% and 3.1% a year respectively. Home prices are changing faster.
Median rent in Bates County rose about 25.1% between 2015 and 2023, from $608 to $760. Over the same span, rent in Missouri rose about 33.6%.
Affordability
On average, housing unit costs 1.7 yearly household incomes in Bates County.
Buying the median-priced home in Bates County costs roughly 10.5 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 Bates County. The price-to-rent ratio in Missouri is about 11.4.
| Metric | Bates County | Missouri Avg | US Average |
|---|---|---|---|
| Median Home Price | $95,918 | $136,017 | $242,182 |
| Median Household Income | $56,850 | $69,051 | $78,145 |
| Price-to-Income Ratio | 1.7 | 2.0 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Bates County fell about 33.6%, while median household income rose about 45.1% 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 | Bates County | Missouri Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 60.1% | 60.1% | 58.2% |
| Rental Rate | 23.0% | 28.4% | 31.3% |
| Vacancy Rate | 16.9% | 11.6% | 10.6% |
| Median Tenure (years) | 18.0 | 15.0 | 15.0 |
| Median Year Moved In | 2008 | 2011 | 2011 |
Bates County has a homeownership rate of 60.1%, about the same as the Missouri average of 60.1%. Its housing vacancy rate is 16.9%, compared with 11.6% in Missouri.
Housing Stock
| Metric | Bates County | Missouri Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.64 people | 2.42 people | 2.54 people |
| Median Structure Built Year | 1978 | 1977 | 1978 |
| Median Number of Rooms | 5.7 | 5.7 | 5.5 |
The typical housing unit in Bates County was built around 1978. On average, 2.6 people live in a home with about 5.7 rooms, staying for about 18.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Bates County, Missouri.
What is the median home price in Bates County, Missouri?
The median home price in Bates County, Missouri is $95,918, lower than the Missouri average of $136,017.
What is the average home price in Bates 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 Bates County, Missouri?
The median gross rent in Bates County, Missouri is $760 per month, lower than the Missouri average of $995.
What was the median gross rent in Bates County in 2020?
In 2020, the median gross rent in Bates County, Missouri was $630 per month.
What is the price-to-rent ratio in Bates County, Missouri?
The price-to-rent ratio in Bates County, Missouri is about 10.5, meaning it would take roughly 10.5 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 Bates County.
Are home prices or rent rising faster in Bates County, Missouri?
Both home prices and rent are rising in Bates County, up about 7.5% and 3.1% a year respectively. Home prices are changing faster.
What is the homeownership rate in Bates County, Missouri?
60.1% of households in Bates County, Missouri own their home, about the same as the Missouri average.
What is the vacancy rate in Bates County, Missouri?
The housing vacancy rate in Bates County, Missouri is 16.9%, higher than the Missouri average of 11.6%.