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 | Scotland County | Missouri Avg | US Average |
|---|---|---|---|
| Median Home Price | $37,999 | $136,017 | $242,182 |
| Price Trend (Annual %) | -13.4% | 5.0% | 8.2% |
| Median Gross Rent | $516 | $995 | $1,342 |
| Rent Trend (Annual %) | 2.0% | 4.0% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Scotland County is about 72% lower than in Missouri. Rent is about 48% lower than the Missouri average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2023
Median Rent Prices, 2015-2023
Home prices and rent are moving in opposite directions in Scotland County: home prices fell about 13.4% a year while rent rose about 2.0% a year. That is an unusual pattern worth watching.
Median rent in Scotland County rose about 15.2% between 2015 and 2023, from $448 to $516. Over the same span, rent in Missouri rose about 33.6%.
Affordability
On average, housing unit costs 0.6 yearly household incomes in Scotland County.
Buying the median-priced home in Scotland County costs roughly 6.1 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 Scotland County. The price-to-rent ratio in Missouri is about 11.4.
| Metric | Scotland County | Missouri Avg | US Average |
|---|---|---|---|
| Median Home Price | $37,999 | $136,017 | $242,182 |
| Median Household Income | $67,703 | $69,051 | $78,145 |
| Price-to-Income Ratio | 0.6 | 2.0 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Scotland County fell about 61.5%, while median household income rose about 90.1% 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 | Scotland County | Missouri Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 57.8% | 60.1% | 58.2% |
| Rental Rate | 11.8% | 28.4% | 31.3% |
| Vacancy Rate | 30.3% | 11.6% | 10.6% |
| Median Tenure (years) | 18.0 | 15.0 | 15.0 |
| Median Year Moved In | 2008 | 2011 | 2011 |
Scotland County has a homeownership rate of 57.8%, lower than the Missouri average of 60.1%. Its housing vacancy rate is 30.3%, compared with 11.6% in Missouri.
Housing Stock
| Metric | Scotland County | Missouri Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.99 people | 2.42 people | 2.54 people |
| Median Structure Built Year | 1961 | 1977 | 1978 |
| Median Number of Rooms | 5.9 | 5.7 | 5.5 |
The typical housing unit in Scotland County was built around 1961. On average, 3.0 people live in a home with about 5.9 rooms, staying for about 18.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Scotland County, Missouri.
What is the median home price in Scotland County, Missouri?
The median home price in Scotland County, Missouri is $37,999, lower than the Missouri average of $136,017.
What is the average home price in Scotland 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 Scotland County, Missouri?
The median gross rent in Scotland County, Missouri is $516 per month, lower than the Missouri average of $995.
What was the median gross rent in Scotland County in 2020?
In 2020, the median gross rent in Scotland County, Missouri was $444 per month.
What is the price-to-rent ratio in Scotland County, Missouri?
The price-to-rent ratio in Scotland County, Missouri is about 6.1, meaning it would take roughly 6.1 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 Scotland County.
Are home prices or rent rising faster in Scotland County, Missouri?
Home prices and rent are moving in opposite directions in Scotland County: home prices fell about 13.4% a year while rent rose about 2.0% a year. That is an unusual pattern worth watching.
What is the homeownership rate in Scotland County, Missouri?
57.8% of households in Scotland County, Missouri own their home, lower than the Missouri average of 60.1%.
What is the vacancy rate in Scotland County, Missouri?
The housing vacancy rate in Scotland County, Missouri is 30.3%, higher than the Missouri average of 11.6%.