Gray County, Kansas Housing Market
In Gray County, Kansas, the median home value is $206,000, with a median monthly rent of $808. This places Gray County at #1340 nationally out of 3134 counties by median home value, and #13 within Kansas.
📈 Price Trend (2017 → 2024)
📊 Recent Market Momentum (FHFA HPI)
FHFA House Price Index — All-Transactions, Annual (2000 = 100) · Latest: 2024
📍 Economic Snapshot
Employment & Wages
- Avg weekly wage: $1,164
- Establishments: 262
- BLS QCEW, 2025
Housing Supply
- Single-family: 10
- Multi-family: 0
- U.S. Census Bureau, Building Permits Survey
Migration Patterns
- Inflow: 2,309 (avg $83,419)
- Outflow: 2,189 (avg $84,899)
- IRS Statistics of Income
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| Metric | Gray County | Kansas Average | U.S. Average |
|---|---|---|---|
| Median Home Value | $206,000 | $138,824 | $227,706 |
| Median Gross Rent | $808 | $802 | $968 |
| Owner Occupancy Rate | 77.1% | 74.2% | 73.3% |
| Price/Rent Ratio | 21.2 | 14.2 | 18.7 |
Market Analysis
The median home value in Gray County is 48.4% above the Kansas state average and 9.5% below the U.S. national average. The median rent of $808/month is 0.7% above the state average.
With a price-to-rent ratio of 21.2, renting is generally more cost-effective than buying in the short to medium term. The market favors buyers only for long-term holds.
Gray County has an owner-occupancy rate of 77.1%, compared to 74.2% in Kansas and 73.3% nationally. This indicates a more homeowner-heavy market than the U.S. average.
Similar Counties by Home Value
| County | State | Median Home Value | Median Rent |
|---|---|---|---|
| Rhea County | Tennessee | $206,000 | $839 |
| Washakie County | Wyoming | $206,000 | $720 |
| Pondera County | Montana | $206,100 | $784 |
| Deuel County | South Dakota | $205,900 | $642 |
| Clark County | Kentucky | $205,800 | $938 |
Other Counties in Kansas
| County | Median Home Value | Median Rent | Owner Occ. |
|---|---|---|---|
| Jackson County | $207,300 | $814 | 77.1% |
| Sedgwick County | $203,300 | $998 | 63.1% |
| Finney County | $201,400 | $1,048 | 64.9% |
| Kearny County | $200,900 | $1,056 | 71.7% |
| McPherson County | $211,200 | $916 | 75.5% |
Data Source: U.S. Census Bureau, American Community Survey (ACS) 2024 5-Year Estimates (2017–2024). Variables: B25077 (Median Home Value), B25064 (Median Gross Rent), B25003 (Tenure). Data collected on 2026-10-14. The price-to-rent ratio is calculated as Median Home Value ÷ (Median Monthly Rent × 12).