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 | Sullivan County | Missouri Avg | US Average |
|---|---|---|---|
| Median Home Price | $53,333 | $136,017 | $242,182 |
| Price Trend (Annual %) | 9.9% | 5.0% | 8.2% |
| Median Gross Rent | $691 | $995 | $1,342 |
| Rent Trend (Annual %) | 3.0% | 4.0% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Sullivan County is about 61% lower than in Missouri. Rent is about 31% 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 Sullivan County, up about 9.9% and 3.0% a year respectively. Home prices are changing faster.
Median rent in Sullivan County rose about 28.5% between 2015 and 2023, from $538 to $691. Over the same span, rent in Missouri rose about 33.6%.
Affordability
On average, housing unit costs 1.0 yearly household incomes in Sullivan County.
Buying the median-priced home in Sullivan County costs roughly 6.4 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 Sullivan County. The price-to-rent ratio in Missouri is about 11.4.
| Metric | Sullivan County | Missouri Avg | US Average |
|---|---|---|---|
| Median Home Price | $53,333 | $136,017 | $242,182 |
| Median Household Income | $55,638 | $69,051 | $78,145 |
| Price-to-Income Ratio | 1.0 | 2.0 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Sullivan County fell about 54.3%, while median household income rose about 81.5% 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 | Sullivan County | Missouri Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 49.6% | 60.1% | 58.2% |
| Rental Rate | 17.6% | 28.4% | 31.3% |
| Vacancy Rate | 32.7% | 11.6% | 10.6% |
| Median Tenure (years) | 18.0 | 15.0 | 15.0 |
| Median Year Moved In | 2008 | 2011 | 2011 |
Sullivan County has a homeownership rate of 49.6%, lower than the Missouri average of 60.1%. Its housing vacancy rate is 32.7%, compared with 11.6% in Missouri.
Housing Stock
| Metric | Sullivan County | Missouri Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.81 people | 2.42 people | 2.54 people |
| Median Structure Built Year | 1968 | 1977 | 1978 |
| Median Number of Rooms | 5.8 | 5.7 | 5.5 |
The typical housing unit in Sullivan County was built around 1968. On average, 2.8 people live in a home with about 5.8 rooms, staying for about 18.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Sullivan County, Missouri.
What is the median home price in Sullivan County, Missouri?
The median home price in Sullivan County, Missouri is $53,333, lower than the Missouri average of $136,017.
What is the average home price in Sullivan 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 Sullivan County, Missouri?
The median gross rent in Sullivan County, Missouri is $691 per month, lower than the Missouri average of $995.
What was the median gross rent in Sullivan County in 2020?
In 2020, the median gross rent in Sullivan County, Missouri was $636 per month.
What is the price-to-rent ratio in Sullivan County, Missouri?
The price-to-rent ratio in Sullivan County, Missouri is about 6.4, meaning it would take roughly 6.4 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 Sullivan County.
Are home prices or rent rising faster in Sullivan County, Missouri?
Both home prices and rent are rising in Sullivan County, up about 9.9% and 3.0% a year respectively. Home prices are changing faster.
What is the homeownership rate in Sullivan County, Missouri?
49.6% of households in Sullivan County, Missouri own their home, lower than the Missouri average of 60.1%.
What is the vacancy rate in Sullivan County, Missouri?
The housing vacancy rate in Sullivan County, Missouri is 32.7%, higher than the Missouri average of 11.6%.