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There's a the age old question everyone thinks about when they decide to move to a city in Missouri:
Should I buy a place or rent? Well, we aren't here today to solve that problem for you exactly. We are just assuming you'll do the right thing and a buy a place. And while we are happy to tell you the best place to live in Missouri, this analysis is going to tackle the question of the best place to buy a house as an investor. That is we are going to try and determine the up and coming cities in the Show Me State.
To do that we are going to look at places in Missouri that are growing faster than average, but where home prices are below average. In every day terms, the "deals". The best deal in Missouri at the moment? That would be Peculiar according to our analysis.
Here's a look at the top ten places to buy a home in missouri for 2020:
- Peculiar (Homes For Sale)
- Savannah (Photos | Homes For Sale)
- Odessa (Homes For Sale)
- Waynesville (Homes For Sale)
- Macon (Photos | Homes For Sale)
- Willard (Homes For Sale)
- Bowling Green (Homes For Sale)
- Weldon Spring (Photos | Homes For Sale)
- Richmond (Photos | Homes For Sale)
- Charleston (Photos | Homes For Sale)
What's the best place to buy a home in Missouri for 2020? According to our analysis, would the the ideal place to buy a home looking into the future.
The methodology that wen't into this can be a bit complicated, so we'll break it down for you in as much detail as we can below. If you're not worried about finding a deal on good places to live, check out the most expensive places to live in missouri and, for those of you on a budget, the cheapest places to live in missouri.
For more Missouri reading, check out:
- These Are The 10 Best Counties To Live In Missouri
- 10 Best Places To Raise A Family In Missouri
- These Are The 10 Best Places To Retire In Missouri
The 10 Best Cities To Buy A House In Missouri For 2020
Savannah was founded in 1841. The city was named after Savannah Woods, the child of a first settler. A post office called Savannah has been in operation since 1841.
Odessa was platted in 1878, and named after Odessa, in Ukraine. A post office called Odessa has been in operation since 1879.
Waynesville was platted in 1839. The city was named for Anthony Wayne. The post office in Waynesville has been in operation since 1834.
Macon was platted in 1856. Like the county, Macon was named for Nathaniel Macon. A post office called Macon City was established in 1856, and the name was changed to Macon in 1892.
Willard's main east-west road, U.S. 160, is known as Olympian Boulevard because two graduates of Willard High School have participated in the Olympics. Although the town remains relatively small in size, the city of Willard has shown considerable growth in recent years.
Bowling Green was settled in 1819, and designated county seat in 1824. Settled chiefly by immigrants from Kentucky and Virginia, it was named after Bowling Green, Kentucky.
Weldon Spring was platted in 1864. The community took its name from a spring of the same name near the original town site. A post office called Weldon Spring was established in 1875, and remained in operation until 1957.
Richmond was platted in 1828. The community was named after Richmond, Virginia. A post office called Richmond has been in operation since 1828.
Charleston is the biggest town on the Missouri side near the confluence of the Mississippi River and Ohio River at Bird's Point, Missouri. Its history has been tied to traffic on the rivers.
How do you determine the best places to buy a home in missouri for 2020?
We were in real estate for almost five years and have been working on this site for another three. Suffice is to say, we've put a lot of thought into what goes into finding a good place to buy a home.
So all that thinking has come to this moment where we get to spell out how we'd approach finding an up-and-coming place to live in Missouri. Put differently, the analysis will try to find places in Missouri with undervalued homes relative to pent up demand.
To do that we looked at the most recent American Community Survey Census data for 2014-2018 and compared it to the previous vintage (2012-2016). Specifically, we used the following criteria:
- Y-o-Y Change In Population (People want to live here)
- Y-o-Y Change In Median Home Prices (People are willing to pay for it)
- Home Prices Relative To The State Average (It's still kinda cheap)
We want places that are growing, have seen home prices increase in recent years, and are still "cheap" for Missouri with the following caveats:
- Home prices had to be within 20% of the state average (Much lower than that and you get to some of the more dangerous places)
- Home prices increased in the last year, and
- Above 5,000 people (Bigger cities have more data points)
So of the 0 cities and towns in Missouri, only 129 places made it through our initial filters to even be considered.
We then ranked each place from 1 to 129 for the criteria mentioned above with 1 being the best for that criteria. We averaged the rankings to create a "best place to buy" index with the place having the lowest index being the best. You can download the data here.
Turns out that Peculiar is the best potential gem in the not-so-rough in the Show Me State.
Read on for more on these places.
There You Have It - The Best Places To Purchase A House In missouri for 2020
There's our analysis of the best places to buy a house in Missouri. And, to be clear, we aren't necessarily saying these places are the best places to live, just that it looks like they might be in a couple of years based on the data.
In fact, every place in the following table meets our criteria, so even though it may not look super long, remember we started off with all 0 places in the state.
So if we'd could rent or buy in these cities, we'd definitely buy.
For more missouri reading, check out: