2019 St. Louis Real Estate Investment Trends
If you’ve been following St. Louis real estate over the last few years, it probably comes as no surprise that St. Louis boasts some of the best real estate statistics in the country.
Between the relatively affordable price for a single-family home and the predicted stability of the market, St. Louis is a haven for real estate investors who want to start or grow a portfolio.
St. Louis Real Estate Investment Trends
To learn more about real estate in St. Louis and to benefit from the experience of a real estate investing coach, sign up for one of Laura Alamery’s live events in St. Louis. As a real estate mentor with decades of experience, Laura can help you tap into this lucrative market.
We’ve also compiled some of the most salient St. Louis real estate investment trends below to give you an idea of the city’s market.
Renters Contribute Significantly To The Market
St. Louis is one of the best cities for a rental or income property because of its percentage of renters. Indeed, an estimated 32 percent of the population currently rents in St. Louis. Because of the emergence of new bars and restaurants, culture, and job opportunities, this number is only expected to rise as young professionals flock to St. Louis.
In other cities that have already been scavenged for income property opportunities, such as New York and Denver, buying an income property might be too much of a financial commitment. St. Louis, however, still has a median home value far below that of the United States.
Indeed, the median home value (based on a three-bedroom single-family home) was just $176,000 compared to the national average of $200,000 in 2018.
If you have even a little capital available or know how to tap into other people’s money as a financing source, St. Louis offers ample opportunity.
Rent Prices Are Increasing In The Metro Area
While the median monthly rent price in St. Louis is only 0.72 percent of the national average, it’s still increased steadily over the last decade. This statistic corroborates the relative stability of the St. Louis real estate market.
The median monthly rent in the U.S. is $1,430, and the median rental price in the St. Louis metro area is $1,269. Considering the relative affordability of owning a rental property in St. Louis, the return on investment is promising.
Home Foreclosure Is An Opportunity
St. Louis has a high rate of home foreclosure compared to the national average. While this might seem like a statistic of which to be wary, it actually represents an incredible opportunity for real estate investment.
The national average of home foreclosure (1.6 homes per 10,000) pales in comparison to St. Louis’s 5.6 per 10,000 statistic. As a result, real estate investors can score foreclosure deals and then set themselves up for lucrative fix-and-flip scenarios.
Missouri Is Land-Lord Friendly
St. Louis benefits from Missouri’s land-lord friendly real estate policies. In general, it’s easier to evict a tenant who doesn’t pay rent — even if they’re just a few days late. While there are, of course, still protections for tenants, the laws make it easier to manage investment properties.
Real Estate Coaching With Laura Alamery
If you’re serious about real estate investment opportunities in St. Louis, working with real estate investing coach Laura Alamery is a great way to build your skill set and network.
Laura can give you usable, effective real estate investment strategies geared specifically toward the St. Louis real estate market. Register for a live event today in St. Louis!