Department of Numbers

Platte County Missouri Residential Rent and Rental Statistics

The median monthly gross residential rent in Platte County MO was $992 in 2017 according to the Census ACS survey.1 Average gross rent in Platte County was $1,035 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 Platte County median and average rent data will be released in September of 2019.

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

Show dollars as: Nominal Real

Real Gross Rent in Platte 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%
Platte County MO Median Gross Rent $992 +6.90% +3.12%

Platte County MO Real Gross Rent Trends

At $992, real median gross rent in Platte County was at its highest level in 2017 since the series began in 2005. At $1,035, real average gross rent in Platte County was at its highest level in 2017 since the series began in 2005.

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

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Platte County

Date US
Median
Missouri
Median
Platte County MO
Median
Platte County MO
Average
2017 $1,012 $800 $992 $1,035
2016 $996 $783 $928 $919
2015 $987 $785 $922 $992
2014 $956 $772 $962 $1,022
2013 $924 $750 $847 $919
2012 $912 $728 $886 $943
2011 $912 $742 $837 $943
2010 $927 $739 $868 $946
2009 $931 $738 $919 $1,018
2008 $947 $755 $882 $868
2007 $899 $704 $876 $917
2006 $909 $723 $848 $878

Platte County Rental Vacancy Rate

The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2016 the rental vacancy rate for Platte County Missouri was 4.57% according to Census ACS data.

Rental Vacancy Rate in Platte County Missouri

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

Trends in Platte County MO Rental Vacancy Rate

The rental vacancy rate in Platte County peaked in 2014 at 10.79%. Since then it has fallen by 6.22% to 4.57%. Data records for this series originated in 2005.

Rental Vacancy Rate: Platte County MO, Missouri, US

Rental vacancy rate in Missouri

Historical Rental Vacancy Rate data for Platte County

Date US Missouri Platte County MO
2017 6.18% 6.40%
2016 5.89% 6.81% 4.57%
2015 5.85% 6.43%
2014 6.32% 7.16% 10.79%
2013 6.49% 6.86%
2012 6.77% 6.74%
2011 7.40% 8.22%
2010 8.17% 8.25% 8.66%
2009 8.43% 8.24%
2008 7.86% 8.57%
2007 7.87% 8.36% 9.45%
2006 7.70% 8.49% 8.33%

Rent as a Fraction of Income

Using median household income data for Platte County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Platte County, median monthly gross rent as a fraction of median household income was 15.95% in 2017 according to the ACS.

Platte 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%
Platte County MO 15.95% +1.81% -0.22%

Trends in Platte County MO Rent as a Fraction of Income

The fraction of median Platte County household income required to pay median monthly gross rent peaked in 2014 (relative to the 2005 series origin) at 16.16%. Since then it has fallen by 0.22% to 15.95%.

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

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

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

Date US Missouri Platte County MO
2017 20.13% 17.92% 15.95%
2016 20.43% 17.88% 14.14%
2015 20.63% 18.23% 15.18%
2014 20.89% 18.71% 16.16%
2013 20.78% 18.77% 15.68%
2012 20.65% 18.69% 15.75%
2011 20.70% 18.78% 15.50%
2010 20.50% 18.47% 14.30%
2009 20.12% 17.72% 15.46%
2008 19.00% 16.82% 14.15%
2007 18.66% 16.44% 15.18%
2006 18.90% 17.00% 13.69%

Renter Fraction in Platte County Missouri

You can calculate the renter fraction in Platte 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 Platte County as a fraction of total Platte County households. In 2017 34.30% of households were renters according to Census ACS data.

Platte 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%
Platte County MO 34.30% +0.76% +2.38%

Trends in the Platte County MO Renter Fraction

The Platte County household renter fraction peaked in in 2013 at 38.25% and is now 3.95% below that level. The origin year for the series is 2005.

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

Fraction of renters in Platte County

History of Platte County Renter Fraction

Date US Missouri Platte County MO
2017 36.13% 33.05% 34.30%
2016 36.88% 33.92% 33.54%
2015 36.97% 33.87% 36.41%
2014 36.90% 33.09% 31.92%
2013 36.50% 33.03% 38.25%
2012 36.09% 32.53% 33.28%
2011 35.42% 31.95% 35.99%
2010 34.65% 31.02% 33.65%
2009 34.13% 30.92% 33.42%
2008 33.36% 29.90% 30.84%
2007 32.80% 29.34% 32.18%
2006 32.73% 29.34% 30.80%

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.