Department of Numbers

Cape Girardeau Missouri Residential Rent and Rental Statistics

The median monthly gross residential rent in Cape Girardeau, MO (the Cape Girardeau-Jackson metro area) was $641 in 2015 according to the Census ACS survey.1 Average gross rent in Cape Girardeau was $738 in 2015. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2016 Cape Girardeau median and average rent data will be released in September of 2017.

Data is also available below for Cape Girardeau rental vacancy rates, Cape Girardeau rent as a percent of median income and the fraction of renters in Cape Girardeau.

Show dollars as: Nominal Real

Real Gross Rent in Cape Girardeau Missouri (2015 dollars)2

2015 1 Year Change 3 Year Change
US Median Gross Rent $959 +3.12% +8.24%
Missouri Median Gross Rent $763 +1.73% +7.77%
Cape Girardeau, MO Median Gross Rent $641 -4.33% +1.58%

Cape Girardeau, MO Real Gross Rent Trends

Median gross rent for Cape Girardeau peaked in real terms in 2010 at $693 and is now $52 (7.50%) lower. At $738, real average gross rent in Cape Girardeau was at its highest level in 2015 since the series began in 2005.

Real Gross Rent in Cape Girardeau: Cape Girardeau MO Median, Cape Girardeau MO Average, Missouri Median, US Median

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Cape Girardeau

Date US
Median
Missouri
Median
Cape Girardeau, MO
Median
Cape Girardeau, MO
Average
2015 $959 $763 $641 $738
2014 $930 $750 $670 $720
2013 $898 $729 $637 $644
2012 $886 $708 $631 $649
2011 $887 $721 $650 $680
2010 $901 $718 $693 $683
2009 $905 $718 $575 $560
2008 $920 $734 $630 $603
2007 $874 $684 $602 $587
2006 $883 $703 $634 $578
2005 $858 $699 $585 $600

Cape Girardeau Rental Vacancy Rate

The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2015 the rental vacancy rate for Cape Girardeau Missouri was 11.31% according to Census ACS data.

Rental Vacancy Rate in Cape Girardeau Missouri

2015 1 Year Change 3 Year Change
US 5.85% -0.47% -0.92%
Missouri 6.43% -0.73% -0.31%
Cape Girardeau, MO 11.31% +2.73% +6.52%

Trends in Cape Girardeau, MO Rental Vacancy Rate

At 11.31%, Cape Girardeau residential rental vacancy rate in 2015 is at the highest point since 2005, the beginning of our reporting for this series.

Rental Vacancy Rate: Cape Girardeau MO, Missouri, US

Rental vacancy rate in Missouri

Historical Rental Vacancy Rate data for Cape Girardeau

Date US Missouri Cape Girardeau, MO
2015 5.85% 6.43% 11.31%
2014 6.32% 7.16% 8.58%
2013 6.49% 6.86% 6.63%
2012 6.77% 6.74% 4.79%
2011 7.40% 8.22% 7.52%
2010 8.17% 8.25% 9.09%
2009 8.43% 8.24% 9.84%
2008 7.86% 8.57% 4.07%
2007 7.87% 8.36% 3.52%
2006 7.70% 8.49%
2005 7.74% 9.28% 8.11%

Rent as a Fraction of Income

Using median household income data for Cape Girardeau, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Cape Girardeau, median monthly gross rent as a fraction of median household income was 16.08% in 2015 according to the ACS.

Cape Girardeau Missouri Median Annual Rent as a Fraction of Median Household Income

2015 1 Year Change 3 Year Change
US 20.63% -0.26% -0.02%
Missouri 18.23% -0.48% -0.47%
Cape Girardeau, MO 16.08% -2.13% -1.60%

Trends in Cape Girardeau, MO Rent as a Fraction of Income

The fraction of median Cape Girardeau household income required to pay median monthly gross rent peaked in 2011 (relative to the 2005 series origin) at 19.43%. Since then it has fallen by 3.34% to 16.08%.

Fraction of Income towards Rent: Cape Girardeau MO, Missouri, US

Percent of median household income going towards median monthly gross rent in Cape Girardeau Missouri

Historical Data for Annual Rent as a Fraction of Income in Cape Girardeau Missouri

Date US Missouri Cape Girardeau, MO
2015 20.63% 18.23% 16.08%
2014 20.89% 18.71% 18.21%
2013 20.78% 18.77% 18.57%
2012 20.65% 18.69% 17.68%
2011 20.70% 18.78% 19.43%
2010 20.50% 18.47% 19.12%
2009 20.12% 17.72% 15.38%
2008 19.00% 16.82% 16.88%
2007 18.66% 16.44% 15.40%
2006 18.90% 17.00% 18.21%
2005 18.89% 16.95% 15.88%

Renter Fraction in Cape Girardeau Missouri

You can calculate the renter fraction in Cape Girardeau 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 Cape Girardeau as a fraction of total Cape Girardeau households. In 2015 33.88% of households were renters according to Census ACS data.

Cape Girardeau Fraction of Renters by Household Units

2015 1 Year Change 3 Year Change
US 36.97% +0.07% +0.88%
Missouri 33.87% +0.78% +1.34%
Cape Girardeau, MO 33.88% +2.53% +2.71%

Trends in the Cape Girardeau, MO Renter Fraction

The Cape Girardeau household renter fraction peaked in in 2013 at 34.99% and is now 1.11% below that level. The origin year for the series is 2005.

Fraction of Renting Households: Cape Girardeau MO, Missouri, US

Fraction of renters in Cape Girardeau

History of Cape Girardeau Renter Fraction

Date US Missouri Cape Girardeau, MO
2015 36.97% 33.87% 33.88%
2014 36.90% 33.09% 31.35%
2013 36.50% 33.03% 34.99%
2012 36.09% 32.53% 31.17%
2011 35.42% 31.95% 34.01%
2010 34.65% 31.02% 33.44%
2009 34.13% 30.92% 27.86%
2008 33.36% 29.90% 31.22%
2007 32.80% 29.34% 31.76%
2006 32.73% 29.34% 29.55%
2005 33.10% 29.36% 27.53%

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.