The median rent for counties in the St Louis area in 2010 varied from a low of $620 in Franklin County to a high of $819 in St Charles County. By 2017 rents had increased to $736 and $993 respectively in those counties, according to the latest data available from the U.S. Census Bureau. As the table shows below, the increase in rents from 2010 to 2017 in St Louis area counties varied from 18.3% to 23.0% with a median increase of 18.75%.
For homeowners, the median cost of a mortgage in 2010 ranged from a low of $1,168 in Franklin County to a high of $1,519 in St Charles County. In 2017 those median mortgage payments had changed little with the median mortgage in Franklin County coming in at $1,197 and for St Charles County, $1,521. As the table below shows, the increase in mortgage payments during this period ranged from a decrease of 1.3% to an increase of 3.1% with the median being a 1.2% increase.
Thanks to a strong economy and lower interest rates, homeowners come out on top!
So while rents increased a median of 18.75% from 2010 to 2017, mortgage payments increased just 1.2%, making the increase in median rent 15.6 times higher than the increase in mortgages during the period. Homeowners also benefited through increased equity with a median increase of 26.75% in the prices of homes sold from 2010 to 2017.
St Louis Area Median Rent and Mortgage Costs 2010-2017
