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 | Benton County | Missouri Avg | US Average |
|---|---|---|---|
| Median Home Price | $75,000 | $136,017 | $242,182 |
| Price Trend (Annual %) | 3.9% | 5.0% | 8.2% |
| Median Gross Rent | $823 | $995 | $1,342 |
| Rent Trend (Annual %) | 4.9% | 4.0% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Benton County is about 45% lower than in Missouri. Rent is about 17% 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 Benton County, up about 3.9% and 4.9% a year respectively. Rent is changing faster.
Median rent in Benton County rose about 38.9% between 2015 and 2023, from $592 to $823. Over the same span, rent in Missouri rose about 33.6%.
Affordability
On average, housing unit costs 1.4 yearly household incomes in Benton County.
Buying the median-priced home in Benton 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 Benton County. The price-to-rent ratio in Missouri is about 11.4.
| Metric | Benton County | Missouri Avg | US Average |
|---|---|---|---|
| Median Home Price | $75,000 | $136,017 | $242,182 |
| Median Household Income | $52,951 | $69,051 | $78,145 |
| Price-to-Income Ratio | 1.4 | 2.0 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Benton County rose about 8.8%, while median household income rose about 55.4% 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 | Benton County | Missouri Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 50.3% | 60.1% | 58.2% |
| Rental Rate | 9.8% | 28.4% | 31.3% |
| Vacancy Rate | 39.9% | 11.6% | 10.6% |
| Median Tenure (years) | 15.0 | 15.0 | 15.0 |
| Median Year Moved In | 2011 | 2011 | 2011 |
Benton County has a homeownership rate of 50.3%, lower than the Missouri average of 60.1%. Its housing vacancy rate is 39.9%, compared with 11.6% in Missouri.
Housing Stock
| Metric | Benton County | Missouri Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.40 people | 2.42 people | 2.54 people |
| Median Structure Built Year | 1983 | 1977 | 1978 |
| Median Number of Rooms | 5.4 | 5.7 | 5.5 |
The typical housing unit in Benton County was built around 1983. On average, 2.4 people live in a home with about 5.4 rooms, staying for about 15.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Benton County, Missouri.
What is the median home price in Benton County, Missouri?
The median home price in Benton County, Missouri is $75,000, lower than the Missouri average of $136,017.
What is the average home price in Benton 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 Benton County, Missouri?
The median gross rent in Benton County, Missouri is $823 per month, lower than the Missouri average of $995.
What was the median gross rent in Benton County in 2020?
In 2020, the median gross rent in Benton County, Missouri was $678 per month.
What is the price-to-rent ratio in Benton County, Missouri?
The price-to-rent ratio in Benton County, Missouri 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 Benton County.
Are home prices or rent rising faster in Benton County, Missouri?
Both home prices and rent are rising in Benton County, up about 3.9% and 4.9% a year respectively. Rent is changing faster.
What is the homeownership rate in Benton County, Missouri?
50.3% of households in Benton County, Missouri own their home, lower than the Missouri average of 60.1%.
What is the vacancy rate in Benton County, Missouri?
The housing vacancy rate in Benton County, Missouri is 39.9%, higher than the Missouri average of 11.6%.