Boone County Missouri Residential Rent and Rental Statistics
The median monthly gross residential rent in Boone County MO was $925 in 2019 according to the Census ACS survey.1 Average gross rent in Boone County was $1,029 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 Boone County median and average rent data will be released in September of 2021.
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.
Real Gross Rent in Boone County 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% |
| Boone County MO Median Gross Rent | $925 | +3.47% | +8.70% |
Boone County MO Real Gross Rent Trends
At $925, real median gross rent in Boone County was at its highest level in 2019 since the series began in 2005. At $1,029, real average gross rent in Boone County was at its highest level in 2019 since the series began in 2005.
Real Gross Rent: Boone County MO Median, Boone County MO Average, Missouri Median, US Median
Real Gross Rent History for Boone County
| Date | US Median |
Missouri Median |
Boone County MO Median |
Boone County MO Average |
|---|---|---|---|---|
| 2019 | $1,097 | $834 | $925 | $1,029 |
| 2018 | $1,077 | $845 | $894 | $933 |
| 2017 | $1,043 | $825 | $896 | $917 |
| 2016 | $1,027 | $807 | $851 | $879 |
| 2015 | $1,017 | $809 | $816 | $909 |
| 2014 | $986 | $796 | $847 | $913 |
| 2013 | $953 | $773 | $822 | $839 |
| 2012 | $940 | $751 | $827 | $890 |
| 2011 | $941 | $765 | $820 | $825 |
| 2010 | $955 | $762 | $817 | $821 |
| 2009 | $960 | $761 | $857 | $890 |
| 2007 | $927 | $726 | $802 | $795 |
| 2005 | $910 | $741 | $786 | $769 |
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
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| Missouri | 5.15% | -1.42% | -1.66% |
| 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
Historical Rental Vacancy Rate data for Boone County
| Date | US | Missouri | Boone County MO |
|---|---|---|---|
| 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% | 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% |
| 2007 | 7.87% | 8.36% | 8.39% |
| 2005 | 7.74% | 9.28% | — |
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 19.47% in 2019 according to the ACS.
Boone County 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% |
| Boone County MO | 19.47% | +0.09% | +0.98% |
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 1.92% to 19.47%. From a 2015 low of 18.27%, the fraction of income going to rent has increased by 1.20%.
Fraction of Income towards Rent: Boone County MO, Missouri, US
Historical Data for Annual Rent as a Fraction of Income in Boone County Missouri
| Date | US | Missouri | Boone County MO |
|---|---|---|---|
| 2019 | 20.03% | 17.43% | 19.47% |
| 2018 | 20.50% | 18.28% | 19.38% |
| 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% |
| 2007 | 18.66% | 16.44% | 18.44% |
| 2005 | 18.89% | 16.95% | 19.13% |
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 2019 42.46% of households were renters according to Census ACS data.
Boone County 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% |
| Boone County MO | 42.46% | -3.38% | -5.71% |
Trends in the Boone County MO Renter Fraction
The Boone County household renter fraction peaked in in 2016 at 48.17% and is now 5.71% below that level. The origin year for the series is 2005.
Fraction of Renting Households: Boone County MO, Missouri, US
History of Boone County Renter Fraction
| Date | US | Missouri | Boone County MO |
|---|---|---|---|
| 2019 | 35.89% | 32.88% | 42.46% |
| 2018 | 36.05% | 33.22% | 45.84% |
| 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% |
| 2007 | 32.80% | 29.34% | 41.68% |
| 2005 | 33.10% | 29.36% | 41.28% |
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. ↩
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