Department of Numbers

Cole County Missouri Residential Rent and Rental Statistics

The median monthly gross residential rent in Cole County MO was $637 in 2017 according to the Census ACS survey.1 Average gross rent in Cole County was $612 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 Cole County median and average rent data will be released in September of 2019.

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

Show dollars as: Nominal Real

Real Gross Rent in Cole 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%
Cole County MO Median Gross Rent $637 -2.75% +5.81%

Cole County MO Real Gross Rent Trends

Median gross rent for Cole County peaked in real terms in 2011 at $676 and is now $39 (5.77%) lower. Average gross rent for Cole County peaked in real terms in 2013 at $652 and is now $40 (6.13%) lower.

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

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Cole County

Date US
Median
Missouri
Median
Cole County MO
Median
Cole County MO
Average
2017 $1,012 $800 $637 $612
2016 $996 $783 $655 $649
2015 $987 $785 $612 $606
2014 $956 $772 $602 $605
2013 $924 $750 $622 $652
2012 $912 $728 $576 $585
2011 $912 $742 $676 $642
2010 $927 $739 $578 $571
2009 $931 $738 $610 $626
2008 $947 $755 $580 $569
2007 $899 $704 $608 $589
2006 $909 $723 $619 $625

Cole County Rental Vacancy Rate

The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2017 the rental vacancy rate for Cole County Missouri was 7.22% according to Census ACS data.

Rental Vacancy Rate in Cole County Missouri

2017 1 Year Change 3 Year Change
US 6.18% +0.29% -0.14%
Missouri 6.40% -0.41% -0.76%
Cole County MO 7.22% -1.21%

Trends in Cole County MO Rental Vacancy Rate

The rental vacancy rate in Cole County peaked in 2005 at 8.58%. Since then it has fallen by 1.36% to 7.22%. Data records for this series originated in 2005. From a 2012 post peak low of 1.05%, the rental vacancy rate has increased by 6.17%.

Rental Vacancy Rate: Cole County MO, Missouri, US

Rental vacancy rate in Missouri

Historical Rental Vacancy Rate data for Cole County

Date US Missouri Cole County MO
2017 6.18% 6.40% 7.22%
2016 5.89% 6.81% 8.43%
2015 5.85% 6.43%
2014 6.32% 7.16%
2013 6.49% 6.86%
2012 6.77% 6.74% 1.05%
2011 7.40% 8.22%
2010 8.17% 8.25%
2009 8.43% 8.24%
2008 7.86% 8.57%
2007 7.87% 8.36%
2006 7.70% 8.49%

Rent as a Fraction of Income

Using median household income data for Cole County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Cole County, median monthly gross rent as a fraction of median household income was 14.53% in 2017 according to the ACS.

Cole 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%
Cole County MO 14.53% +0.53% +0.75%

Trends in Cole County MO Rent as a Fraction of Income

Cole County renters paid 14.53% of median household income towards the median monthly gross rent in 2017. This is the highest fraction of median household income going to rent since the series originated in 2005.

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

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

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

Date US Missouri Cole County MO
2017 20.13% 17.92% 14.53%
2016 20.43% 17.88% 14.00%
2015 20.63% 18.23% 12.56%
2014 20.89% 18.71% 13.78%
2013 20.78% 18.77% 14.39%
2012 20.65% 18.69% 13.15%
2011 20.70% 18.78% 13.85%
2010 20.50% 18.47% 12.05%
2009 20.12% 17.72% 12.50%
2008 19.00% 16.82% 10.68%
2007 18.66% 16.44% 13.98%
2006 18.90% 17.00% 12.95%

Renter Fraction in Cole County Missouri

You can calculate the renter fraction in Cole 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 Cole County as a fraction of total Cole County households. In 2017 33.20% of households were renters according to Census ACS data.

Cole 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%
Cole County MO 33.20% +1.04% +3.51%

Trends in the Cole County MO Renter Fraction

The Cole County household renter fraction peaked in in 2007 at 37.22% and is now 4.02% below that level. From a recent low of 29.69% in 2014, the household based renter fraction has now grown by 3.51%. The origin year for the series is 2005.

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

Fraction of renters in Cole County

History of Cole County Renter Fraction

Date US Missouri Cole County MO
2017 36.13% 33.05% 33.20%
2016 36.88% 33.92% 32.16%
2015 36.97% 33.87% 34.13%
2014 36.90% 33.09% 29.69%
2013 36.50% 33.03% 33.18%
2012 36.09% 32.53% 31.58%
2011 35.42% 31.95% 34.35%
2010 34.65% 31.02% 31.22%
2009 34.13% 30.92% 32.76%
2008 33.36% 29.90% 31.75%
2007 32.80% 29.34% 37.22%
2006 32.73% 29.34% 31.02%

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.