Housing market and best cities to live in Missouri: Missouri housing market trends. Median home prices in Missouri. Housing market stability. Property tax rates. Cost of living comparison. Popular cities: Kansas City, St. Louis. Family-friendly neighborhoods. Proximity to amenities and schools. Job market and economic growth. Outdoor and community activities.
Missouri housing market trends.
The Missouri housing market is experiencing modest growth with a 3.1% year-over-year increase in home values, characterized by increasing inventory, a slowdown in sales activity, moderating price growth, and longer days on the market, indicating a shift towards a more balanced market. For more details, you can visit [Norada Real Estate's blog](https://www.noradarealestate.com/blog/missouri-housing-market/), which offers insights into these trends and provides a comprehensive overview of the current real estate landscape in Missouri.
Median home prices in Missouri.
The median home sales price in Missouri was $269,400 in October 2024, representing an 8.2% increase from the previous year. The market is demonstrating signs of being a seller's market, despite the increase in inventory and longer days on the market. For more insights and details about this trend, visit the Bankrate Real Estate website, which offers comprehensive data and analysis on the housing market dynamics in Missouri.
Housing market stability.
The Missouri housing market is stable and favorable, with a 4.4% year-over-year increase in home prices, a median home price of $261,000, and homes selling in about 25 days, indicating a balanced market between buyers and sellers. Top cities to live in include Kansas City, Independence City, and St. Joseph, known for their vibrant culture and significant increases in median home prices. To gain deeper insights into the trends and analysis of this market, visiting the Missouri Real Estate Market Overview can provide comprehensive details on the factors influencing these developments.
Property tax rates.
In Missouri, property tax rates vary significantly by region, with the state's effective real estate tax rate averaging around 0.99%. For example, Springfield has a rate of 0.871%, Columbia at 0.960%, and Kansas City at 1.387%, resulting in annual property taxes of $2,178, $2,400, and $3,468 respectively for a $250,000 home. For a detailed breakdown and to gain a deeper understanding of the regional variations in these rates, consult The Ultimate Guide to Missouri Real Estate Taxes, which offers comprehensive insights into the factors influencing property tax calculations across the state.
Cost of living comparison.
Missouri offers a highly affordable housing market, with a median rent of $1,222.34 and a median home price of $255,000, significantly lower than the national averages. Cities like St. Joseph, Florissant, and Springfield stand out for their low cost of living, with housing costs 12% to 25% lower than the national average, making them attractive options for those seeking affordable living. For more detailed information about the cost of living in Missouri, visit the Consumer Affairs Missouri Cost of Living page to explore these enticing economic benefits further.
Popular cities: Kansas City, St. Louis.
In Missouri, Kansas City and St. Louis are prominent cities in the housing market. Kansas City sees a median home list price of $279,786 as of November 2024, with a 3.7% increase from the previous year, and a relatively low cost of living despite rising housing prices. St. Louis offers a more stable market with a diverse range of homes, from high-rises to historic Victorian houses, and a rich cultural and historical backdrop. For a deeper insight into these trends, visit the Kansas City Real Estate Trends page.
Family-friendly neighborhoods.
The St. Louis area boasts several family-friendly neighborhoods ideal for raising children, including Clayton, Kirkwood, Webster Groves, Chesterfield, and Ballwin. Each of these areas offers not only outstanding schools and safe environments but also a range of family-friendly amenities like parks, community events, and recreational facilities.
For families considering a move to Missouri, the top suburbs include Creve Coeur, Wildwood, O'Fallon, Chesterfield, and Ballwin near St. Louis. These suburbs are known for their excellent educational institutions, secure neighborhoods, and numerous recreational opportunities. Additionally, Kansas City offers neighborhoods such as Brookside, Waldo, Leawood, Mission Hills, and Prairie Village, all praised for their walkability, excellent schools, and family-oriented amenities. Whether you're opting for St. Louis or Kansas City, both regions offer fantastic options for families looking to settle in a nurturing and community-focused environment.
Proximity to amenities and schools.
Missouri offers several family-friendly suburbs with excellent proximity to amenities and schools, such as Creve Coeur, Wildwood, Lee's Summit, O'Fallon, and Chesterfield near St. Louis, and Blue Springs near Kansas City, all of which are known for their good schools, recreational facilities, and safe neighborhoods. To explore more about these vibrant communities, visit the Top Family Friendly Suburbs In Missouri guide that highlights the reasons these areas are perfect for families seeking an ideal living environment.
Job market and economic growth.
Missouri boasts a flourishing job market, with a 7.8% expected job growth by 2030, and cities like St. Louis and St. Joseph offering strong employment opportunities in sectors such as healthcare, transportation, and manufacturing. Along with an affordable cost of living and economic stability, the state presents numerous advantages for residents. Discover more about these exciting prospects by visiting the Best Places to Live in Missouri page.
Outdoor and community activities.
Missouri offers several cities with excellent outdoor and community activities, such as St. Joseph, known for its affordable living and top-rated education system, and St. Louis, which boasts a booming job market and various outdoor recreation options. Cities like Florissant and Independence also provide great connectivity and climatic conditions, making them ideal for different demographics, including young adults and retirees. For more insights into these vibrant cities, the Best Places to Live in Missouri guide can be incredibly helpful in choosing your perfect destination within the state.