St. Louis Investment Property for Sale - 2023 Rental Home Appreciation
St. Louis, Missouri, is famous for its striking Gateway Arch, which is the centerpiece of the Gateway Arch National Park. It is the second-largest city in Missouri, with a population of around 2.8 million, and sits on the banks of the Mississippi and Missouri rivers.
The city’s historic metro area, remarkable modern architecture, and family-friendly suburbs make St. Louis an attractive prospect for real estate investors and residents alike. Known as the ‘Gateway to the West,’ St. Louis’ has a historical past as a hub of expansion and modern fame as a haven for sports fans.
St. Louis's Attractive Housing Market
St. Louis is popular with real estate professionals and prospective residents because of its big-city energy and small-town charm. According to the 2019 U.S. News & World Report, St. Louis is among the most desirable places to live in the U.S. because of its gorgeous period homes, cultural institutions, excellent schools, beautiful green parks, and investment opportunities.
St. Louis county MO has a low cost of living, making it a popular choice for real estate investors looking for predictable cash flow and stable property values.
Real estate investments in Saint Louis are commonly single-family homes and multifamily rental properties. As a result, property managers and real estate brokerages are pressured to stay up to date on all the St. Louis rental market details, including home prices, square footage, the best neighborhoods, and up-and-coming areas. And people looking to purchase condos, multifamily buildings, single-family homes, or other properties as investments in the St. Louis area are spoiled for choice.
- Tower Grove South: Tower Grove South is popular with rental property investors in St. Louis. The suburb is home to families and young professionals and is famous for its restaurants and shops.
- Maplewood: Maplewood combines urban and suburban living, attracting renters interested in easy access to its artisanal shops and local boutiques. Maplewood is also home to an excellent school district that attracts families with children.
- Central West End: Central West End is also a popular choice for residents of all kinds because of its various property types and location close to Forest Park.
Some St. Louis real estate investors and realtors are heading to the St. Charles area or venturing outside the metro area to Farmington to evaluate home prices or purchase investment properties.
Rental Home Appreciation in St. Louis
The St. Louis real estate market is boosted by the city’s numerous free attractions, such as the St. Louis Zoo and the St. Louis Art Museum. In addition, residents appreciate the wide choice of 75 schools in the St. Louis Public Schools district. St. Louis is a university city boasting some great colleges. Washington University regularly ranks among the top colleges in the United States. Saint Louis University also attracts students from across the country.
Renters in St. Louis can also enjoy the 1,400-acre Forest Park, which boasts biking trails, scenic walks, tennis, and a golf course. Sports fans can head to Busch Stadium to watch the St. Louis Cardinals play or catch the St. Louis Blues in action at Scottrade Center. St. Louis investment property owners love the variety of leisure options available in the city.
Economic Growth in St. Louis
St. Louis is affordable and offers work opportunities in its growing technology, education, and healthcare industries. Historically, one of the largest employers in the area has been the Anheuser-Busch brewery. However, they have been joined by other large companies, including Bayer, Boeing, Emerson Electric, and Nestle Purina Petcare, amongst other multinational companies.
Start-ups and local businesses also boost the STL employment market, and every year the St. Louis Business Journal publishes a list of the best companies in the city to work for. According to the figures, St. Louis has seen the job market increase by 0.7% in the last year, and the unemployment rate remains low at 6.3%.
If you’re interested in learning more about how to easily invest in St. Louis rental property, head to Arrived to request more information.