Missouri
Investing in Missouri
Investing in Missouri rental properties could be a good option if your tenants are looking for a thriving economy, great BBQ, and rich history in the arts and American politics. Though, if you are to invest, make sure your insurance policy covers tornadoes as devastating windstorms may sometimes impact the area.
The Nophin team crunched the numbers and found the five best places to invest in Missouri rental properties.
Statewide vacancy rates
Kansas City, MO
Split between Kansas and Missouri, Kansas City on the Missouri side leads in total non-farm employment with the Federal Government as the largest employer. The IRS has one of the largest offices based in Kansas City, MO.
- Population: 508,090
- Median household income: $56,179
- Median 1-bedroom monthly rent: $1,045
- Median listing home price: $249,900
St. Louis, MO
Nicknamed the "Gateway to the West" for its towering Gateway Arch structure, St. Louis is a city with one of the fastest growing home prices in the US.
- Population: 301,578
- Median household income: $45,782
- Median 1-bedroom monthly rent: $950
- Median listing home price: $205,000
Springfield, MO
Springfield is the birthplace of Historic Route 66 and the third largest city in Missouri.
- Population: 169,176
- Median household income: $37,491
- Median 1-bedroom monthly rent: $750
- Median listing home price: $228,500
Columbia, MO
Columbia is a college town home to the University of Missouri.
- Population: 126,254
- Median household income: $53,447
- Median 1-bedroom monthly rent: $748
- Median listing home price: $289,900
Independence, MO
Independence is a suburb of Kansas City and is the hometown to US President Harry S Truman.
- Population: 123,011
- Median household income: $50,797
- Median 1-bedroom monthly rent: $750
- Median listing home price: $189,000
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Methodology
To help us determine the five best cities in all states, the Nophin team used data from several sources including the 2020 United States Census, the Department of Housing & Urban Development, Federal Reserve Economic Data (FRED), the National Association of REALTORS®, Zumper, internal data, and other reputable sources.