The housing market in Missouri has been relatively stable over the past few years. Home values have seen modest increases, with an average annual appreciation rate of 3.9% over the past five years. With the current market conditions, it's a great time to consider hiring cheap long distance movers to help you relocate to the Show-Me State. That is slightly lower than the national average of 4.1%. The median home value in Missouri is currently $142,400, which is slightly lower than the national median of $209,400.
The median list price is $199,900, which is also slightly lower than the national median of $270,000. When it comes to rental rates, Missouri is slightly more affordable than the national average. The median rent in the state is currently $1,200 per month, compared to the national median of $1,400 per month. Rental rates vary widely by city and neighborhood, with some areas of St. Louis and Kansas City having higher rents than others. Overall, the housing market in Missouri is stable and affordable compared to other states.
Home values have seen moderate increases over the past few years, and rental rates are generally lower than the national average. However, there are still some areas of the state that have seen significant price increases due to high demand for homes. For example, St. Louis has seen a 5.4% increase in home values over the past year, and some areas of Kansas City have seen double-digit increases in home values. The future of the housing market in Missouri looks positive.
Population growth in cities like St. Louis and Kansas City is expected to continue, which should lead to increased demand for housing and further appreciation of home values. In addition, there is a growing trend of people moving away from more expensive cities in coastal states and towards more affordable Midwestern states like Missouri. Overall, Missouri is a great place for people looking to buy or invest in real estate. Home values are generally affordable compared to other states, and rental rates are generally lower than the national average.
With population growth continuing in major cities like St. Louis and Kansas City, there is potential for further appreciation of home values in the future.
Home Buying Trends in MissouriThe home buying market in Missouri has seen steady growth over the past few years. The number of homes sold has increased every year since 2015, with a total increase of 11% over the last five years. The median sale price has also increased, from $147,000 in 2015 to $168,000 in 2020.
This represents an annual appreciation rate of 3.9%, which is slightly lower than the national average of 4.1%. The most popular cities for home buyers in Missouri are St. Louis and Kansas City, followed by Springfield and Columbia. St.
Louis has seen the most growth in home sales over the past five years, with a total increase of 14% since 2015. The city's housing market is particularly attractive to buyers due to its relatively low cost of living and high quality of life. Kansas City has also seen an increase in home sales since 2015, with a total increase of 10%. The median sale price is slightly higher than the national average at $183,000, but still remains affordable for many buyers. The city is home to major corporations, universities, and a vibrant cultural scene that makes it a great place to live.
Springfield and Columbia are smaller cities in Missouri, but they both have seen increases in their housing markets as well. Springfield's median sale price is currently $129,000, while Columbia's is $152,000. Both cities offer buyers a range of housing options at more affordable prices than larger cities like St. Louis and Kansas City. Overall, the housing market outlook in Missouri is positive.
Homebuyers can expect to find a variety of options at competitive prices, as well as a growing economy and strong job market. Overall, Missouri's housing market is relatively stable and affordable. Home values have seen moderate increases in the past few years, and rental rates are generally lower than the national average. However, certain areas of the state have seen significant price increases due to high demand for homes. It is important to do research and understand the local market before making any decisions when buying or renting in Missouri.