Missouri Real Estate Market Trends & Analysis

The Missouri real estate market has developed a reputation as one of the most affordable in the country. With a median home value well below the national average, it is actually a lot cheaper to own real estate in Missouri than to rent on an annual basis. In response to the latest demand for housing, active listings have increased steadily since the first quarter of this year.

While inventory remains tight, recent trends suggests easement is on the horizon, which will help balance the market and make it easier for everyone to participate. It is worth noting, however, that Missouri’s relative affordability has awarded real estate investors more opportunities across the state. At this point in the year, it’s entirely possible to find and acquire affordable properties that are expected to appreciate, at least for the foreseeable future.

Missouri Real Estate Fees & Regulations

Real Estate

Closing Conducted by: Title Companies, Lenders, Real Estate Agents, Attorneys
Conveyance: Warranty Deed

Foreclosure Procedure

Primary Foreclosure Method: Non-Judicial
Process Period: 2 - 3 months
Notice of Sale: Trustee
Redemption Period: Up to 12 Months

Taxes

Income Tax: 1.5% - 6%
Corporate Tax: 6.25%
Sales Tax: 4.23%
Estate Tax: No
Inheritance Tax: No
Median Property Tax: 0.91%
Property Taxes by County: http://www.tax-rates.org/missouri/property-tax#Counties

Average Transactional Costs

Closing Cost: $2,387.00
Transfer Fee: No Fees
Origination Fee: $1,749.00

Overview

  • Median Home Value: $162,400
  • 1-Year Appreciation Rate: +4.8%
  • Median Home Value (1-Year Forecast): +2.2%
  • Median Rent Price: $1,050
  • Price-To-Rent Ratio: 12.88
  • Average Days On Market: 57
  • Unemployment Rate: 3.2% (latest estimate by the Bureau Of Labor Statistics)
  • Population: 6,126,452 (latest estimate by the U.S. Census Bureau)
  • Median Household Income: $51,542 (latest estimate by the U.S. Census Bureau)
  • Percentage Of Vacant Homes: 12.56%
  • Foreclosure Rate: 1 in every 3,631

Missouri Foreclosure Trends & Statistics

Tax Lien Investing

  • Tax Lien or Deed: Tax Lien State with weird right to bid on property purchase
  • Interest Rate: Tax Lien State with weird right to bid on property purchase
  • Redemption Period:2 years on 1st year, 1 year on second year, 90 days on third year