Novelty, MO
Population 103 · Missouri
About Novelty, MO
Novelty is a small community located in Missouri with a population of 103 residents according to the latest US Census Bureau American Community Survey data. The median household income is $83,409 per year, which is 11% above the national median of $75,149. The median age of 38.8 years is close to the US median age of 38.9 years.
Housing Market Overview
The housing market in Novelty features a median home value of $67,500, which is 72% below the national median of $244,900. This makes Novelty one of the more affordable markets in the country, potentially attractive for first-time homebuyers. Median monthly rent is $0, 100% below the national average of $1,163/month. Of the 65 total housing units, 71% are owner-occupied (27 units) and 29% are renter-occupied (11 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Novelty shows an unemployment rate of 0.0%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 5.8%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Novelty have an average one-way commute time of 11.8 minutes, one of the shorter commutes in the region.
Education & Demographics
16.9% of Novelty residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The lower educational attainment rate may reflect the area's industry mix, with more employment in trades, manufacturing, or agricultural sectors. The community's demographic composition includes 0.0% White, 0.0% Hispanic or Latino, 0.0% Black or African American, and 0.0% Asian residents, with 0.0% of the population being foreign-born.
Cost of Living in Novelty, MO
Compared to national averages, Novelty has a median household income of $83,409 (11% above the national median of $75,149). Home values average $67,500, which is 72% below the national median. Monthly rent at $0 is 100% below the US average of $1,163. Within Missouri, Novelty's income is 37% above the state average of $61,047, and home values are 55% below the state median of $150,786.
Why Live in Novelty, MO?
Novelty offers a strong local economy with a median household income of $83,409, well above the national average, and affordable housing with a median home value of $67,500, below the US average of $244,900, and rent that’s lower than the national average at $0/month. Additionally, the city features a strong job market with an unemployment rate of just 0.0%, and a low poverty rate of 5.8%, better than the national average, and short commute times averaging just 11.8 minutes.
Novelty has a population of 103 with a median age of 38.8 years. Compare Novelty with other cities to see how it stacks up, or explore all cities in Missouri.
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Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
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Frequently Asked Questions about Novelty
What is the population of Novelty, MO?
The population of Novelty, MO is 103 according to the latest US Census Bureau American Community Survey estimates. This makes it a small community in Missouri.
What is the median household income in Novelty?
The median household income in Novelty, MO is $83,409 per year, which is 11% above the national median of $75,149.
What is the median home value in Novelty?
The median home value in Novelty, MO is $67,500, which is 72% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Novelty?
The median monthly rent in Novelty, MO is $0, which is 100% below the national average of $1,163/month.
What is the unemployment rate in Novelty?
The unemployment rate in Novelty, MO is 0.0%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Novelty, MO a good place to live?
Novelty offers above-average incomes, affordable housing, and a strong job market. With a population of 103 and a median age of 38.8, the city appeals to a broad range of residents.
How educated is Novelty, MO?
16.9% of residents in Novelty aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The educational profile reflects the area's industry mix and employment landscape.
What is the cost of living in Novelty?
Key cost-of-living indicators for Novelty, MO: median home value is $67,500 (72% below national), median rent is $0/month, and median household income is $83,409. The home-value-to-income ratio is 0.8x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Novelty?
The poverty rate in Novelty, MO is 5.8%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Novelty, MO?
Novelty's population is 0.0% White, 0.0% Hispanic or Latino, 0.0% Black or African American, 0.0% Asian, and 0.0% two or more races. 0.0% of residents are foreign-born.