Department of Numbers

Boone County Missouri Residential Rent and Rental Statistics

The median monthly gross residential rent in Boone County MO was $869 in 2017 according to the Census ACS survey.1 Average gross rent in Boone County was $889 in 2017. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2018 Boone County median and average rent data will be released in September of 2019.

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

Show dollars as: Nominal Real

Real Gross Rent in Boone County Missouri (2017 dollars)2

2017 1 Year Change 3 Year Change
US Median Gross Rent $1,012 +1.61% +5.86%
Missouri Median Gross Rent $800 +2.17% +3.63%
Boone County MO Median Gross Rent $869 +5.21% +5.85%

Boone County MO Real Gross Rent Trends

At $869, real median gross rent in Boone County was at its highest level in 2017 since the series began in 2005. At $889, real average gross rent in Boone County was at its highest level in 2017 since the series began in 2005.

Real Gross Rent: Boone County MO Median, Boone County MO Average, Missouri Median, US Median

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Boone County

Date US
Median
Missouri
Median
Boone County MO
Median
Boone County MO
Average
2017 $1,012 $800 $869 $889
2016 $996 $783 $826 $852
2015 $987 $785 $791 $882
2014 $956 $772 $821 $886
2013 $924 $750 $798 $814
2012 $912 $728 $802 $864
2011 $912 $742 $795 $800
2010 $927 $739 $792 $797
2009 $931 $738 $831 $863
2008 $947 $755 $857 $882
2007 $899 $704 $778 $771
2006 $909 $723 $774 $787

Boone County 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 Boone County Missouri was 2.90% according to Census ACS data.

Rental Vacancy Rate in Boone County Missouri

2017 1 Year Change 3 Year Change
US 6.18% +0.29% -0.14%
Missouri 6.40% -0.41% -0.76%
Boone County MO

Trends in Boone County MO Rental Vacancy Rate

The rental vacancy rate in Boone County peaked in 2008 at 10.13%. Since then it has fallen by 7.23% to 2.90%. Data records for this series originated in 2005. From a 2012 post peak low of 1.77%, the rental vacancy rate has increased by 1.13%.

Rental Vacancy Rate: Boone County MO, Missouri, US

Rental vacancy rate in Missouri

Historical Rental Vacancy Rate data for Boone County

Date US Missouri Boone County MO
2017 6.18% 6.40%
2016 5.89% 6.81%
2015 5.85% 6.43% 2.90%
2014 6.32% 7.16% 2.26%
2013 6.49% 6.86% 2.92%
2012 6.77% 6.74% 1.77%
2011 7.40% 8.22% 6.24%
2010 8.17% 8.25%
2009 8.43% 8.24% 5.03%
2008 7.86% 8.57% 10.13%
2007 7.87% 8.36% 8.39%
2006 7.70% 8.49% 5.98%

Rent as a Fraction of Income

Using median household income data for Boone County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Boone County, median monthly gross rent as a fraction of median household income was 20.31% in 2017 according to the ACS.

Boone County Missouri Median Annual Rent as a Fraction of Median Household Income

2017 1 Year Change 3 Year Change
US 20.13% -0.30% -0.76%
Missouri 17.92% +0.04% -0.79%
Boone County MO 20.31% +1.82% +1.10%

Trends in Boone County MO Rent as a Fraction of Income

The fraction of median Boone County household income required to pay median monthly gross rent peaked in 2010 (relative to the 2005 series origin) at 21.39%. Since then it has fallen by 1.08% to 20.31%. From a 2015 low of 18.27%, the fraction of income going to rent has increased by 2.05%.

Fraction of Income towards Rent: Boone County MO, Missouri, US

Percent of median household income going towards median monthly gross rent in Boone County Missouri

Historical Data for Annual Rent as a Fraction of Income in Boone County Missouri

Date US Missouri Boone County MO
2017 20.13% 17.92% 20.31%
2016 20.43% 17.88% 18.49%
2015 20.63% 18.23% 18.27%
2014 20.89% 18.71% 19.22%
2013 20.78% 18.77% 19.14%
2012 20.65% 18.69% 21.09%
2011 20.70% 18.78% 19.55%
2010 20.50% 18.47% 21.39%
2009 20.12% 17.72% 19.25%
2008 19.00% 16.82% 19.02%
2007 18.66% 16.44% 18.44%
2006 18.90% 17.00% 18.50%

Renter Fraction in Boone County Missouri

You can calculate the renter fraction in Boone County 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 Boone County as a fraction of total Boone County households. In 2017 43.73% of households were renters according to Census ACS data.

Boone County Fraction of Renters by Household Units

2017 1 Year Change 3 Year Change
US 36.13% -0.75% -0.77%
Missouri 33.05% -0.87% -0.04%
Boone County MO 43.73% -4.44% -0.77%

Trends in the Boone County MO Renter Fraction

The Boone County household renter fraction peaked in in 2016 at 48.17% and is now 4.44% below that level. The origin year for the series is 2005.

Fraction of Renting Households: Boone County MO, Missouri, US

Fraction of renters in Boone County

History of Boone County Renter Fraction

Date US Missouri Boone County MO
2017 36.13% 33.05% 43.73%
2016 36.88% 33.92% 48.17%
2015 36.97% 33.87% 44.21%
2014 36.90% 33.09% 44.50%
2013 36.50% 33.03% 46.84%
2012 36.09% 32.53% 43.96%
2011 35.42% 31.95% 44.50%
2010 34.65% 31.02% 42.23%
2009 34.13% 30.92% 42.28%
2008 33.36% 29.90% 44.43%
2007 32.80% 29.34% 41.68%
2006 32.73% 29.34% 41.01%

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.