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 | Wright County | Missouri Avg | US Average |
|---|---|---|---|
| Median Home Price | $132,143 | $136,017 | $242,182 |
| Price Trend (Annual %) | 22.7% | 5.0% | 8.2% |
| Median Gross Rent | $558 | $995 | $1,342 |
| Rent Trend (Annual %) | 0.9% | 4.0% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Wright County is about 3% lower than in Missouri. Rent is about 44% 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 Wright County, up about 22.7% and 0.9% a year respectively. Home prices are changing faster.
Median rent in Wright County rose about 6.9% between 2015 and 2023, from $522 to $558. Over the same span, rent in Missouri rose about 33.6%.
Affordability
On average, housing unit costs 2.8 yearly household incomes in Wright County.
Buying the median-priced home in Wright County costs roughly 19.7 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 Wright County. The price-to-rent ratio in Missouri is about 11.4.
| Metric | Wright County | Missouri Avg | US Average |
|---|---|---|---|
| Median Home Price | $132,143 | $136,017 | $242,182 |
| Median Household Income | $47,170 | $69,051 | $78,145 |
| Price-to-Income Ratio | 2.8 | 2.0 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Wright County rose about 233.4%, while median household income rose about 67.0% 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 | Wright County | Missouri Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 64.5% | 60.1% | 58.2% |
| Rental Rate | 18.7% | 28.4% | 31.3% |
| Vacancy Rate | 16.8% | 11.6% | 10.6% |
| Median Tenure (years) | 16.0 | 15.0 | 15.0 |
| Median Year Moved In | 2010 | 2011 | 2011 |
Wright County has a homeownership rate of 64.5%, higher than the Missouri average of 60.1%. Its housing vacancy rate is 16.8%, compared with 11.6% in Missouri.
Housing Stock
| Metric | Wright County | Missouri Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.66 people | 2.42 people | 2.54 people |
| Median Structure Built Year | 1983 | 1977 | 1978 |
| Median Number of Rooms | 5.8 | 5.7 | 5.5 |
The typical housing unit in Wright County was built around 1983. On average, 2.7 people live in a home with about 5.8 rooms, staying for about 16.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Wright County, Missouri.
What is the median home price in Wright County, Missouri?
The median home price in Wright County, Missouri is $132,143, lower than the Missouri average of $136,017.
What is the average home price in Wright 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 Wright County, Missouri?
The median gross rent in Wright County, Missouri is $558 per month, lower than the Missouri average of $995.
What was the median gross rent in Wright County in 2020?
In 2020, the median gross rent in Wright County, Missouri was $492 per month.
What is the price-to-rent ratio in Wright County, Missouri?
The price-to-rent ratio in Wright County, Missouri is about 19.7, meaning it would take roughly 19.7 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 Wright County.
Are home prices or rent rising faster in Wright County, Missouri?
Both home prices and rent are rising in Wright County, up about 22.7% and 0.9% a year respectively. Home prices are changing faster.
What is the homeownership rate in Wright County, Missouri?
64.5% of households in Wright County, Missouri own their home, higher than the Missouri average of 60.1%.
What is the vacancy rate in Wright County, Missouri?
The housing vacancy rate in Wright County, Missouri is 16.8%, higher than the Missouri average of 11.6%.