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 | Ripley County | Missouri Avg | US Average |
|---|---|---|---|
| Median Home Price | $136,414 | $136,017 | $242,182 |
| Price Trend (Annual %) | 18.0% | 5.0% | 8.2% |
| Median Gross Rent | $666 | $995 | $1,342 |
| Rent Trend (Annual %) | 4.0% | 4.0% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Ripley County is about the same as in Missouri. Rent is about 33% 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 Ripley County, up about 18.0% and 4.0% a year respectively. Home prices are changing faster.
Median rent in Ripley County rose about 30.6% between 2015 and 2023, from $510 to $666. Over the same span, rent in Missouri rose about 33.6%.
Affordability
On average, housing unit costs 3.1 yearly household incomes in Ripley County.
Buying the median-priced home in Ripley County costs roughly 17.1 years of rent at the median monthly rate. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Ripley County. The price-to-rent ratio in Missouri is about 11.4.
| Metric | Ripley County | Missouri Avg | US Average |
|---|---|---|---|
| Median Home Price | $136,414 | $136,017 | $242,182 |
| Median Household Income | $43,790 | $69,051 | $78,145 |
| Price-to-Income Ratio | 3.1 | 2.0 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Ripley County rose about 125.4%, while median household income rose about 50.4% 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 | Ripley County | Missouri Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 61.2% | 60.1% | 58.2% |
| Rental Rate | 16.4% | 28.4% | 31.3% |
| Vacancy Rate | 22.4% | 11.6% | 10.6% |
| Median Tenure (years) | 17.0 | 15.0 | 15.0 |
| Median Year Moved In | 2009 | 2011 | 2011 |
Ripley County has a homeownership rate of 61.2%, higher than the Missouri average of 60.1%. Its housing vacancy rate is 22.4%, compared with 11.6% in Missouri.
Housing Stock
| Metric | Ripley County | Missouri Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.64 people | 2.42 people | 2.54 people |
| Median Structure Built Year | 1984 | 1977 | 1978 |
| Median Number of Rooms | 5.4 | 5.7 | 5.5 |
The typical housing unit in Ripley County was built around 1984. On average, 2.6 people live in a home with about 5.4 rooms, staying for about 17.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Ripley County, Missouri.
What is the median home price in Ripley County, Missouri?
The median home price in Ripley County, Missouri is $136,414, about the same as the Missouri average.
What is the average home price in Ripley 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 Ripley County, Missouri?
The median gross rent in Ripley County, Missouri is $666 per month, lower than the Missouri average of $995.
What was the median gross rent in Ripley County in 2020?
In 2020, the median gross rent in Ripley County, Missouri was $589 per month.
What is the price-to-rent ratio in Ripley County, Missouri?
The price-to-rent ratio in Ripley County, Missouri is about 17.1, meaning it would take roughly 17.1 years of rent payments at the median rent to equal the median home price. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Ripley County.
Are home prices or rent rising faster in Ripley County, Missouri?
Both home prices and rent are rising in Ripley County, up about 18.0% and 4.0% a year respectively. Home prices are changing faster.
What is the homeownership rate in Ripley County, Missouri?
61.2% of households in Ripley County, Missouri own their home, higher than the Missouri average of 60.1%.
What is the vacancy rate in Ripley County, Missouri?
The housing vacancy rate in Ripley County, Missouri is 22.4%, higher than the Missouri average of 11.6%.