Cape Girardeau, Missouri Housing Market Prices
Cape Girardeau Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 52% above the Missouri median$221,800
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Median rent 16% below the Missouri median$870
Housing Market Overview
| Metric | Cape Girardeau | Missouri Avg | US Average |
|---|---|---|---|
| Median Home Price | $221,800 | $145,462 | $248,835 |
| Price Trend (Annual %) | 11.5% | 5.2% | 7.5% |
| Median Gross Rent | $870 | $1,033 | $1,407 |
| Rent Trend (Annual %) | 2.9% | 4.0% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Cape Girardeau is about 52% higher than in Missouri. Rent is about 16% lower than the Missouri average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Cape Girardeau, up about 11.5% and 2.9% a year respectively. Home prices are changing faster.
Median rent in Cape Girardeau rose about 34.3% between 2015 and 2024, from $648 to $870. Over the same span, rent in Missouri rose about 38.6%.
Affordability
On average, housing unit costs 3.9 yearly household incomes in Cape Girardeau.
Buying the median-priced home in Cape Girardeau costs roughly 21.2 years of rent at the median monthly rate. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Cape Girardeau. The price-to-rent ratio in Missouri is about 11.7.
| Metric | Cape Girardeau | Missouri Avg | US Average |
|---|---|---|---|
| Median Home Price | $221,800 | $145,462 | $248,835 |
| Median Household Income | $56,543 | $70,801 | $80,455 |
| Price-to-Income Ratio | 3.9 | 2.1 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Cape Girardeau rose about 120.9%, while median household income rose about 34.7% between 2009 and 2025 — 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 | Cape Girardeau | Missouri Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 47.2% | 60.5% | 58.5% |
| Rental Rate | 41.0% | 28.3% | 31.2% |
| Vacancy Rate | 11.8% | 11.2% | 10.2% |
| Median Tenure (years) | 11.0 | 15.0 | 15.0 |
| Median Year Moved In | 2015 | 2011 | 2011 |
Cape Girardeau has a homeownership rate of 47.2%, lower than the Missouri average of 60.5%. Its housing vacancy rate is 11.8%, compared with 11.2% in Missouri.
Housing Stock
| Metric | Cape Girardeau | Missouri Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.29 people | 2.40 people | 2.53 people |
| Median Structure Built Year | 1974 | 1978 | 1978 |
| Median Number of Rooms | 5.5 | 5.7 | 5.5 |
The typical housing unit in Cape Girardeau was built around 1974. On average, 2.3 people live in a home with about 5.5 rooms, staying for about 11.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Cape Girardeau, Missouri.
What is the median home price in Cape Girardeau, Missouri?
The median home price in Cape Girardeau, Missouri is $221,800, higher than the Missouri average of $145,462.
What is the average home price in Cape Girardeau, Missouri?
The typical home price in Cape Girardeau, Missouri, reported as the median sale price, is $221,800. 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 Cape Girardeau, Missouri?
The median gross rent in Cape Girardeau, Missouri is $870 per month, lower than the Missouri average of $1,033.
What was the median gross rent in Cape Girardeau in 2020?
In 2020, the median gross rent in Cape Girardeau, Missouri was $776 per month.
What is the price-to-rent ratio in Cape Girardeau, Missouri?
The price-to-rent ratio in Cape Girardeau, Missouri is about 21.2, meaning it would take roughly 21.2 years of rent payments at the median rent to equal the median home price. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Cape Girardeau.
Are home prices or rent rising faster in Cape Girardeau, Missouri?
Both home prices and rent are rising in Cape Girardeau, up about 11.5% and 2.9% a year respectively. Home prices are changing faster.
What is the homeownership rate in Cape Girardeau, Missouri?
47.2% of households in Cape Girardeau, Missouri own their home, lower than the Missouri average of 60.5%.
What is the vacancy rate in Cape Girardeau, Missouri?
The housing vacancy rate in Cape Girardeau, Missouri is 11.8%, higher than the Missouri average of 11.2%.
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