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 | Ralls County | Missouri Avg | US Average |
|---|---|---|---|
| Median Home Price | $518,750 | $136,017 | $242,182 |
| Price Trend (Annual %) | 69.3% | 5.0% | 8.2% |
| Median Gross Rent | $765 | $995 | $1,342 |
| Rent Trend (Annual %) | 1.2% | 4.0% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Ralls County is about 281% higher than in Missouri. Rent is about 23% 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 Ralls County, up about 69.3% and 1.2% a year respectively. Home prices are changing faster.
Median rent in Ralls County rose about 16.8% between 2015 and 2023, from $655 to $765. Over the same span, rent in Missouri rose about 33.6%.
Affordability
On average, housing unit costs 8.0 yearly household incomes in Ralls County.
Buying the median-priced home in Ralls County costs roughly 56.5 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 Ralls County. The price-to-rent ratio in Missouri is about 11.4.
| Metric | Ralls County | Missouri Avg | US Average |
|---|---|---|---|
| Median Home Price | $518,750 | $136,017 | $242,182 |
| Median Household Income | $65,216 | $69,051 | $78,145 |
| Price-to-Income Ratio | 8.0 | 2.0 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Ralls County rose about 495.4%, while median household income rose about 41.2% 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 | Ralls County | Missouri Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 67.7% | 60.1% | 58.2% |
| Rental Rate | 10.9% | 28.4% | 31.3% |
| Vacancy Rate | 21.4% | 11.6% | 10.6% |
| Median Tenure (years) | 17.0 | 15.0 | 15.0 |
| Median Year Moved In | 2009 | 2011 | 2011 |
Ralls County has a homeownership rate of 67.7%, higher than the Missouri average of 60.1%. Its housing vacancy rate is 21.4%, compared with 11.6% in Missouri.
Housing Stock
| Metric | Ralls County | Missouri Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.60 people | 2.42 people | 2.54 people |
| Median Structure Built Year | 1970 | 1977 | 1978 |
| Median Number of Rooms | 5.8 | 5.7 | 5.5 |
The typical housing unit in Ralls County was built around 1970. On average, 2.6 people live in a home with about 5.8 rooms, staying for about 17.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Ralls County, Missouri.
What is the median home price in Ralls County, Missouri?
The median home price in Ralls County, Missouri is $518,750, higher than the Missouri average of $136,017.
What is the average home price in Ralls 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 Ralls County, Missouri?
The median gross rent in Ralls County, Missouri is $765 per month, lower than the Missouri average of $995.
What was the median gross rent in Ralls County in 2020?
In 2020, the median gross rent in Ralls County, Missouri was $716 per month.
What is the price-to-rent ratio in Ralls County, Missouri?
The price-to-rent ratio in Ralls County, Missouri is about 56.5, meaning it would take roughly 56.5 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 Ralls County.
Are home prices or rent rising faster in Ralls County, Missouri?
Both home prices and rent are rising in Ralls County, up about 69.3% and 1.2% a year respectively. Home prices are changing faster.
What is the homeownership rate in Ralls County, Missouri?
67.7% of households in Ralls County, Missouri own their home, higher than the Missouri average of 60.1%.
What is the vacancy rate in Ralls County, Missouri?
The housing vacancy rate in Ralls County, Missouri is 21.4%, higher than the Missouri average of 11.6%.