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 | Putnam County | Missouri Avg | US Average |
|---|---|---|---|
| Median Home Price | $214,843 | $136,017 | $242,182 |
| Price Trend (Annual %) | 4.5% | 5.0% | 8.2% |
| Median Gross Rent | $574 | $995 | $1,342 |
| Rent Trend (Annual %) | 1.6% | 4.0% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Putnam County is about 58% higher than in Missouri. Rent is about 42% 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 Putnam County, up about 4.5% and 1.6% a year respectively. Home prices are changing faster.
Median rent in Putnam County rose about 20.4% between 2015 and 2023, from $477 to $575. Over the same span, rent in Missouri rose about 33.6%.
Affordability
On average, housing unit costs 3.7 yearly household incomes in Putnam County.
Buying the median-priced home in Putnam County costs roughly 31.2 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 Putnam County. The price-to-rent ratio in Missouri is about 11.4.
| Metric | Putnam County | Missouri Avg | US Average |
|---|---|---|---|
| Median Home Price | $214,843 | $136,017 | $242,182 |
| Median Household Income | $57,627 | $69,051 | $78,145 |
| Price-to-Income Ratio | 3.7 | 2.0 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Putnam County rose about 36.0%, while median household income rose about 70.3% 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 | Putnam County | Missouri Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 53.5% | 60.1% | 58.2% |
| Rental Rate | 12.4% | 28.4% | 31.3% |
| Vacancy Rate | 34.1% | 11.6% | 10.6% |
| Median Tenure (years) | 19.0 | 15.0 | 15.0 |
| Median Year Moved In | 2007 | 2011 | 2011 |
Putnam County has a homeownership rate of 53.5%, lower than the Missouri average of 60.1%. Its housing vacancy rate is 34.1%, compared with 11.6% in Missouri.
Housing Stock
| Metric | Putnam County | Missouri Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.45 people | 2.42 people | 2.54 people |
| Median Structure Built Year | 1969 | 1977 | 1978 |
| Median Number of Rooms | 5.5 | 5.7 | 5.5 |
The typical housing unit in Putnam County was built around 1969. On average, 2.4 people live in a home with about 5.5 rooms, staying for about 19.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Putnam County, Missouri.
What is the median home price in Putnam County, Missouri?
The median home price in Putnam County, Missouri is $214,843, higher than the Missouri average of $136,017.
What is the average home price in Putnam 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 Putnam County, Missouri?
The median gross rent in Putnam County, Missouri is $575 per month, lower than the Missouri average of $995.
What was the median gross rent in Putnam County in 2020?
In 2020, the median gross rent in Putnam County, Missouri was $613 per month.
What is the price-to-rent ratio in Putnam County, Missouri?
The price-to-rent ratio in Putnam County, Missouri is about 31.2, meaning it would take roughly 31.2 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 Putnam County.
Are home prices or rent rising faster in Putnam County, Missouri?
Both home prices and rent are rising in Putnam County, up about 4.5% and 1.6% a year respectively. Home prices are changing faster.
What is the homeownership rate in Putnam County, Missouri?
53.5% of households in Putnam County, Missouri own their home, lower than the Missouri average of 60.1%.
What is the vacancy rate in Putnam County, Missouri?
The housing vacancy rate in Putnam County, Missouri is 34.1%, higher than the Missouri average of 11.6%.