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These days, finding an affordable place to live in the Missouri area can be challenging. Home prices in Missouri are now at a median cost of $194,908, lower than the the United States average of $313,691.
The average cost of rent is $952/mo in Missouri, primarily driven by the current value of real estate in the Missouri area. While nearly 39.74% of residents own their homes outright in Missouri, 27.98% rent.
Housing affordability isn’t just about home prices, though. The average household income in Missouri is $5,943 per month. Households that rent pay about 16.02% of their income on rent here. Missouri's most expensive areas are in the eastern regions, while the cheapest areas are in the northeastern parts of the state.
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