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 | Mississippi County | Missouri Avg | US Average |
|---|---|---|---|
| Median Home Price | $63,571 | $136,017 | $242,182 |
| Price Trend (Annual %) | 3.3% | 5.0% | 8.2% |
| Median Gross Rent | $782 | $995 | $1,342 |
| Rent Trend (Annual %) | 4.5% | 4.0% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Mississippi County is about 53% lower than in Missouri. Rent is about 21% 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 Mississippi County, up about 3.3% and 4.5% a year respectively. Rent is changing faster.
Median rent in Mississippi County rose about 31.6% between 2015 and 2023, from $594 to $782. Over the same span, rent in Missouri rose about 33.6%.
Affordability
On average, housing unit costs 1.4 yearly household incomes in Mississippi County.
Buying the median-priced home in Mississippi County costs roughly 6.8 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 Mississippi County. The price-to-rent ratio in Missouri is about 11.4.
| Metric | Mississippi County | Missouri Avg | US Average |
|---|---|---|---|
| Median Home Price | $63,571 | $136,017 | $242,182 |
| Median Household Income | $46,566 | $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 Mississippi County rose about 13.1%, while median household income rose about 60.0% 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 | Mississippi County | Missouri Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 52.5% | 60.1% | 58.2% |
| Rental Rate | 33.8% | 28.4% | 31.3% |
| Vacancy Rate | 13.7% | 11.6% | 10.6% |
| Median Tenure (years) | 16.0 | 15.0 | 15.0 |
| Median Year Moved In | 2010 | 2011 | 2011 |
Mississippi County has a homeownership rate of 52.5%, lower than the Missouri average of 60.1%. Its housing vacancy rate is 13.7%, compared with 11.6% in Missouri.
Housing Stock
| Metric | Mississippi County | Missouri Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.34 people | 2.42 people | 2.54 people |
| Median Structure Built Year | 1974 | 1977 | 1978 |
| Median Number of Rooms | 5.5 | 5.7 | 5.5 |
The typical housing unit in Mississippi County was built around 1974. On average, 2.3 people live in a home with about 5.5 rooms, staying for about 16.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Mississippi County, Missouri.
What is the median home price in Mississippi County, Missouri?
The median home price in Mississippi County, Missouri is $63,571, lower than the Missouri average of $136,017.
What is the average home price in Mississippi 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 Mississippi County, Missouri?
The median gross rent in Mississippi County, Missouri is $782 per month, lower than the Missouri average of $995.
What was the median gross rent in Mississippi County in 2020?
In 2020, the median gross rent in Mississippi County, Missouri was $636 per month.
What is the price-to-rent ratio in Mississippi County, Missouri?
The price-to-rent ratio in Mississippi County, Missouri is about 6.8, meaning it would take roughly 6.8 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 Mississippi County.
Are home prices or rent rising faster in Mississippi County, Missouri?
Both home prices and rent are rising in Mississippi County, up about 3.3% and 4.5% a year respectively. Rent is changing faster.
What is the homeownership rate in Mississippi County, Missouri?
52.5% of households in Mississippi County, Missouri own their home, lower than the Missouri average of 60.1%.
What is the vacancy rate in Mississippi County, Missouri?
The housing vacancy rate in Mississippi County, Missouri is 13.7%, higher than the Missouri average of 11.6%.