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 | Jasper County | Missouri Avg | US Average |
|---|---|---|---|
| Median Home Price | $257,007 | $136,017 | $242,182 |
| Price Trend (Annual %) | 14.2% | 5.0% | 8.2% |
| Median Gross Rent | $904 | $995 | $1,342 |
| Rent Trend (Annual %) | 3.3% | 4.0% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Jasper County is about 89% higher than in Missouri. Rent is about 9% 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 Jasper County, up about 14.2% and 3.3% a year respectively. Home prices are changing faster.
Median rent in Jasper County rose about 27.3% between 2015 and 2023, from $710 to $904. Over the same span, rent in Missouri rose about 33.6%.
Affordability
On average, housing unit costs 4.4 yearly household incomes in Jasper County.
Buying the median-priced home in Jasper County costs roughly 23.7 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 Jasper County. The price-to-rent ratio in Missouri is about 11.4.
| Metric | Jasper County | Missouri Avg | US Average |
|---|---|---|---|
| Median Home Price | $257,007 | $136,017 | $242,182 |
| Median Household Income | $58,204 | $69,051 | $78,145 |
| Price-to-Income Ratio | 4.4 | 2.0 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Jasper County rose about 66.7%, while median household income rose about 56.4% 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 | Jasper County | Missouri Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 56.9% | 60.1% | 58.2% |
| Rental Rate | 33.1% | 28.4% | 31.3% |
| Vacancy Rate | 10.0% | 11.6% | 10.6% |
| Median Tenure (years) | 13.0 | 15.0 | 15.0 |
| Median Year Moved In | 2013 | 2011 | 2011 |
Jasper County has a homeownership rate of 56.9%, lower than the Missouri average of 60.1%. Its housing vacancy rate is 10.0%, compared with 11.6% in Missouri.
Housing Stock
| Metric | Jasper County | Missouri Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.51 people | 2.42 people | 2.54 people |
| Median Structure Built Year | 1982 | 1977 | 1978 |
| Median Number of Rooms | 5.7 | 5.7 | 5.5 |
The typical housing unit in Jasper County was built around 1982. On average, 2.5 people live in a home with about 5.7 rooms, staying for about 13.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Jasper County, Missouri.
What is the median home price in Jasper County, Missouri?
The median home price in Jasper County, Missouri is $257,007, higher than the Missouri average of $136,017.
What is the average home price in Jasper 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 Jasper County, Missouri?
The median gross rent in Jasper County, Missouri is $904 per month, lower than the Missouri average of $995.
What was the median gross rent in Jasper County in 2020?
In 2020, the median gross rent in Jasper County, Missouri was $770 per month.
What is the price-to-rent ratio in Jasper County, Missouri?
The price-to-rent ratio in Jasper County, Missouri is about 23.7, meaning it would take roughly 23.7 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 Jasper County.
Are home prices or rent rising faster in Jasper County, Missouri?
Both home prices and rent are rising in Jasper County, up about 14.2% and 3.3% a year respectively. Home prices are changing faster.
What is the homeownership rate in Jasper County, Missouri?
56.9% of households in Jasper County, Missouri own their home, lower than the Missouri average of 60.1%.
What is the vacancy rate in Jasper County, Missouri?
The housing vacancy rate in Jasper County, Missouri is 10.0%, lower than the Missouri average of 11.6%.