Cost of Living in Ray County, Missouri
At a Glance
Rent burden measured as median gross rent as a percentage of renter household income (Census ACS B25071)
How Ray County Compares
Median monthly rent comparison
Detailed Housing Stats
National Ranking
Affordability Rank
Ray County ranks #2,355 of 3,144 counties for affordability (bottom 25%)
Data Story
About Cost of Living in Ray County, Missouri
Ray County rents are below national average
Renters in Ray County spend 13.4% of their income on rent, well below the national average of roughly 15%. At $808 per month, median gross rent here is modest compared to the national landscape, offering households meaningful breathing room in their budgets.
Ray County leads Missouri on affordability
Ray County's 13.4% rent-to-income ratio ranks it among Missouri's most affordable counties, beating the state average of 15.6%. This advantage reflects both reasonable rents and a median household income of $72,152, close to the national median of $74,755.
Ray County outpaces surrounding counties
Ray County renters pay $808 monthly, slightly above the state median of $768 but significantly more affordable than neighboring areas when accounting for income. With strong income levels at $72,152, Ray County residents maintain better housing affordability than most peers in the region.
Housing costs take manageable share
Ray County households spend about 13.4% of their $72,152 annual income on rent, leaving roughly 86.6% for other necessities and savings. Home buyers fare similarly well, with median ownership costs of $889 monthly against the same solid income base.
Consider Ray County for balanced living
If you're evaluating Missouri counties for relocation, Ray County deserves attention: affordable rents at $808, near-median incomes of $72,152, and one of the state's lowest rent-to-income ratios at 13.4%. The median home value of $187,400 also positions it competitively for buyers seeking entry into Missouri's housing market.
Cost of Living Advisory: Ray County
Affordability Verdict
Housing in Ray County is affordable. The median rent is $808/month against a median household income of $72,152, putting rent at 13.4% of income.
Rent vs. Own
The median rent in Ray County is $808/month, while owner costs run $889/month. Renting saves approximately $81/month.
Income Needed
To afford the median rent without exceeding 30% of gross income, a household needs to earn approximately $32,320/year. For owner costs at the 28% rule, the required income is roughly $38,100/year. With a median household income of $72,152, most households can comfortably afford rent here. Notably, 24.0% of renter households in Ray County are cost-burdened, spending more than 30% of income on housing.
Regional Context
Compared to Nodaway County where rent averages $754/month, Ray County is approximately 7% more expensive.
Affordability Calculator
See how your income compares to housing costs in Ray County
Rent Burden
13.4%
of gross income
Max Housing (28% Rule)
$1,684
per month
Owner Cost Burden
14.8%
of gross income
You can likely afford the median home in Ray County
Median home value is $187,400. Estimated monthly cost: $1,496 vs. your max of $1,684.
Rent Affordability Guide
Income Needed Calculator
See how much you need to earn to comfortably afford housing
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Based on the 30% rule for rent and 28% rule for housing costs (mortgage + owner costs). Mortgage estimate assumes 20% down, 7.2% interest, 30-year fixed.
Frequently Asked Questions
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See Today's RatesData: U.S. Census Bureau, American Community Survey (ACS) 5-Year Estimates (2019-2023) — Informational only. Not financial or legal advice.
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