Missouri Residential Rent and Rental Statistics
The median monthly gross residential rent in Missouri was $834 in 2019 according to the Census ACS survey.1 Average gross rent was $838 in 2019. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2020 Missouri median and average rent data will be released in September of 2021.
Data is also available below for Missouri rental vacancy rates, Missouri rent as a percent of median income and the fraction of renters in Missouri.
Real Gross Rent in Missouri (2019 dollars)2
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US Median Gross Rent | $1,097 | +1.86% | +6.82% |
| Missouri Median Gross Rent | $834 | -1.30% | +3.35% |
Missouri Real Gross Rent Trends
Median gross rent for Missouri peaked in real terms in 2018 at $845 and is now $11 (1.30%) lower. At $838, real average gross rent in Missouri was at its highest level in 2019 since the series began in 2005.
Real Gross Rent in Missouri: Median, Average, US Median
Real Gross Rent History for Missouri
| Date | US Median | Missouri Median | Missouri Average |
|---|---|---|---|
| 2019 | $1,097 | $834 | $838 |
| 2018 | $1,077 | $845 | $836 |
| 2017 | $1,043 | $825 | $826 |
| 2016 | $1,027 | $807 | $808 |
| 2015 | $1,017 | $809 | $819 |
| 2014 | $986 | $796 | $797 |
| 2013 | $953 | $773 | $777 |
| 2012 | $940 | $751 | $752 |
| 2011 | $941 | $765 | $763 |
| 2010 | $955 | $762 | $759 |
| 2009 | $960 | $761 | $758 |
| 2007 | $927 | $726 | $718 |
| 2005 | $910 | $741 | $724 |
Missouri Rental Vacancy Rate
The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2019 the rental vacancy rate for Missouri was 5.15% according to Census ACS data.
Rental Vacancy Rate in Missouri
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| Missouri | 5.15% | -1.42% | -1.66% |
Trends in Missouri Rental Vacancy Rate
The rental vacancy rate in Missouri peaked in 2005 at 9.28%. Since then it has fallen by 4.13% to 5.15%. Data records for this series originated in 2005.
Rental Vacancy Rate: Missouri, US
Historical Rental Vacancy Rate data for Missouri
| Date | US | Missouri |
|---|---|---|
| 2019 | 5.97% | 5.15% |
| 2018 | 6.15% | 6.57% |
| 2017 | 6.18% | 6.40% |
| 2016 | 5.89% | 6.81% |
| 2015 | 5.85% | 6.43% |
| 2014 | 6.32% | 7.16% |
| 2013 | 6.49% | 6.86% |
| 2012 | 6.77% | 6.74% |
| 2011 | 7.40% | 8.22% |
| 2010 | 8.17% | 8.25% |
| 2009 | 8.43% | 8.24% |
| 2007 | 7.87% | 8.36% |
| 2005 | 7.74% | 9.28% |
Missouri Rent as a Fraction of Income
Using median household income data for Missouri, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Missouri, median monthly gross rent as a fraction of median household income was 17.43% in 2019 according to the ACS.
Missouri Median Annual Rent as a Fraction of Median Household Income
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 20.03% | -0.47% | -0.40% |
| Missouri | 17.43% | -0.85% | -0.45% |
Trends in Missouri Rent as a Fraction of Income
The fraction of median Missouri household income required to pay median monthly gross rent peaked in 2011 (relative to the 2005 series origin) at 18.78%. Since then it has fallen by 1.34% to 17.43%.
Fraction of Income towards Rent: Missouri, US
Historical Data for Annual Rent as a Fraction of Income in Missouri
| Date | US | Missouri |
|---|---|---|
| 2019 | 20.03% | 17.43% |
| 2018 | 20.50% | 18.28% |
| 2017 | 20.13% | 17.92% |
| 2016 | 20.43% | 17.88% |
| 2015 | 20.63% | 18.23% |
| 2014 | 20.89% | 18.71% |
| 2013 | 20.78% | 18.77% |
| 2012 | 20.65% | 18.69% |
| 2011 | 20.70% | 18.78% |
| 2010 | 20.50% | 18.47% |
| 2009 | 20.12% | 17.72% |
| 2007 | 18.66% | 16.44% |
| 2005 | 18.89% | 16.95% |
Renter Fraction in Missouri
You can calculate the renter fraction in Missouri in at least two ways: by housing units or by population. I've gone with the housing units measure here. This measure looks at the number of renting households in Missouri as a fraction of total Missouri households. In 2019 32.88% of households were renters according to Census ACS data.
Missouri Fraction of Renters by Household Units
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 35.89% | -0.16% | -0.99% |
| Missouri | 32.88% | -0.34% | -1.04% |
Trends in the Missouri Renter Fraction
The Missouri household renter fraction peaked in in 2016 at 33.92% and is now 1.04% below that level. The origin year for the series is 2005.
Fraction of Renting Households: Missouri, US
History of Missouri Renter Fraction
| Date | US | Missouri |
|---|---|---|
| 2019 | 35.89% | 32.88% |
| 2018 | 36.05% | 33.22% |
| 2017 | 36.13% | 33.05% |
| 2016 | 36.88% | 33.92% |
| 2015 | 36.97% | 33.87% |
| 2014 | 36.90% | 33.09% |
| 2013 | 36.50% | 33.03% |
| 2012 | 36.09% | 32.53% |
| 2011 | 35.42% | 31.95% |
| 2010 | 34.65% | 31.02% |
| 2009 | 34.13% | 30.92% |
| 2007 | 32.80% | 29.34% |
| 2005 | 33.10% | 29.36% |
1. Gross rent is defined as contract rent plus the estimated average monthly cost of utilities (electricity, gas, water, and sewer) and fuel (oil, coal, kerosene, wood, etc.). Because some rentals include utilities and others don't, gross rent is a way of normalizing the variability. ↩
2. Real dollars are calculated using the CPI-U less shelter series. ↩
3. The rental vacancy rate is computed by dividing the number of vacant units for rent by the sum of the renter-occupied units, vacant units that are for rent, and vacant units that have been rented but not yet occupied. ↩
