How many renters live in Cole County, Missouri?
The County of Cole County has 76,969 people living in 30,702 households.
There are 21,336 renters living in 11,120 renter households in this County. Renters make up 27.72 percent of the population living in Cole County.
What is the rental market like in Cole County, Missouri?
There are an estimated 33,304 housing units in the Cole County area. Of these, 11,068 units are rental homes, making up 33 percent of the housing market. For every renter household in Cole County, Missouri, there are 1 rental units.
What is the vacancy rate for rentals in Cole County?
The rental vacancy rate in Cole County is 8 percent. This is a higher than average vacancy rate. When rental vacancy rates are high it means that there are a lot of available units and rents tend to be lower.
How many rental units are in Cole County for each bedroom size?
Occupied Rental Units by Size in Cole County
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 117 | 1,917 | 4,777 | 2,498 | 423 |
Occupied Rental Units by Size in Cole County
A large number of apartments in Cole County have two or fewer bedrooms. Seniors and young professionals especially may have more success finding an apartment that meets their needs.
How many renter households in Cole County are overburdened by housing costs?
Among renter households in this market, 31 percent have housing cost burden. Further, 19 percent of households are extremely rent overburdened. When renters pay too much for their housing, it leaves little money for other necessities like food, clothes, or medicine.
The federal government says that renters are cost-burdened if they pay more than a third of their monthly income for rent and utilities.
How Much Is Rent in Cole County
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $646 to $1,207. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $646 |
| One BR | $650 |
| Two BR | $824 |
| Three BR | $1,161 |
| Four BR | $1,207 |
2024 Fair Market Rents in Cole County, Missouri
How many units are rented at Fair Market Rent (FMR) in Cole County?
Renters with a Section 8 Housing Choice Voucher must select a home that is at or below the area’s Fair Market Rent. Markets with a large share of units above FMR tend to have longer search times to find a qualified unit, while those with a large share of units below FMR tend to have more choices and shorter search times. The share below FMR can vary by size of unit, as shown in the table below.
These are the approximate number of units renting below the FMR in this market:
| Unit Size | Count of Units Below FMR | Percentage of Total Units Below FMR |
| Studio | 0 | 100 percent |
| One BR | 1,268 | 66 percent |
| Two BR | 2,706 | 57 percent |
Rental Units Below FMR in Cole County, Missouri
How many affordable rental units are in Cole County?
There are a variety of federal affordable housing programs serving households in Cole County, Missouri including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | 498 |
| Public Housing | 315 |
| Section 8 Project-Based Rental Assistance | 426 |
| Section 811 Supportive Housing for Persons with Disabilities | 38 |
| USDA Section 515 Rural Rental Housing | 84 |
Tracked Units by Federal Program in Cole County, Missouri
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Cole County, Missouri
Cole County features 84 income based apartments. Tenants of income based apartments typically pay no more than 30% of their income towards rent and utilities.
Low Rent Apartments in Cole County, Missouri
There are 15 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Cole County.
Housing Choice Vouchers in Cole County, Missouri
On average, Section 8 Housing Choice vouchers pay Cole County landlords $500 per month towards rent. The average voucher holder contributes $300 towards rent in Cole County.
The maximum amount a voucher would pay on behalf of a low-income tenant in Cole County, Missouri for a two-bedroom apartment is between $742 and $906.
Sourced from federal housing data and AffordableHousingOnline.com research.
