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 | Pettis County | Missouri Avg | US Average |
|---|---|---|---|
| Median Home Price | $153,289 | $136,017 | $242,182 |
| Price Trend (Annual %) | 17.8% | 5.0% | 8.2% |
| Median Gross Rent | $862 | $995 | $1,342 |
| Rent Trend (Annual %) | 3.6% | 4.0% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Pettis County is about 13% higher than in Missouri. Rent is about 13% 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 Pettis County, up about 17.8% and 3.6% a year respectively. Home prices are changing faster.
Median rent in Pettis County rose about 26.6% between 2015 and 2023, from $681 to $862. Over the same span, rent in Missouri rose about 33.6%.
Affordability
On average, housing unit costs 2.5 yearly household incomes in Pettis County.
Buying the median-priced home in Pettis County costs roughly 14.8 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 Pettis County. The price-to-rent ratio in Missouri is about 11.4.
| Metric | Pettis County | Missouri Avg | US Average |
|---|---|---|---|
| Median Home Price | $153,289 | $136,017 | $242,182 |
| Median Household Income | $60,285 | $69,051 | $78,145 |
| Price-to-Income Ratio | 2.5 | 2.0 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Pettis County rose about 229.4%, while median household income rose about 63.6% 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 | Pettis County | Missouri Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 63.8% | 60.1% | 58.2% |
| Rental Rate | 27.2% | 28.4% | 31.3% |
| Vacancy Rate | 9.0% | 11.6% | 10.6% |
| Median Tenure (years) | 14.0 | 15.0 | 15.0 |
| Median Year Moved In | 2012 | 2011 | 2011 |
Pettis County has a homeownership rate of 63.8%, higher than the Missouri average of 60.1%. Its housing vacancy rate is 9.0%, compared with 11.6% in Missouri.
Housing Stock
| Metric | Pettis County | Missouri Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.50 people | 2.42 people | 2.54 people |
| Median Structure Built Year | 1978 | 1977 | 1978 |
| Median Number of Rooms | 5.8 | 5.7 | 5.5 |
The typical housing unit in Pettis County was built around 1978. On average, 2.5 people live in a home with about 5.8 rooms, staying for about 14.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Pettis County, Missouri.
What is the median home price in Pettis County, Missouri?
The median home price in Pettis County, Missouri is $153,289, higher than the Missouri average of $136,017.
What is the average home price in Pettis 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 Pettis County, Missouri?
The median gross rent in Pettis County, Missouri is $862 per month, lower than the Missouri average of $995.
What was the median gross rent in Pettis County in 2020?
In 2020, the median gross rent in Pettis County, Missouri was $727 per month.
What is the price-to-rent ratio in Pettis County, Missouri?
The price-to-rent ratio in Pettis County, Missouri is about 14.8, meaning it would take roughly 14.8 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 Pettis County.
Are home prices or rent rising faster in Pettis County, Missouri?
Both home prices and rent are rising in Pettis County, up about 17.8% and 3.6% a year respectively. Home prices are changing faster.
What is the homeownership rate in Pettis County, Missouri?
63.8% of households in Pettis County, Missouri own their home, higher than the Missouri average of 60.1%.
What is the vacancy rate in Pettis County, Missouri?
The housing vacancy rate in Pettis County, Missouri is 9.0%, lower than the Missouri average of 11.6%.