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Missouri Housing Affordability: A Great Opportunity

Beautiful home in Missouri with large front yard

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News Summary

Missouri has ranked in the top 15 for housing affordability, offering homebuyers the chance to purchase spacious homes at reasonable prices. With a $300,000 budget, buyers can find homes over 1,700 square feet. The state’s cost-of-living index stands at a comfortable 78.6, showcasing its affordability compared to other states. Even with a budget of $400,000, buyers can secure homes with over 2,200 square feet. Compared to states like Hawaii and California, Missouri presents a promising option for those seeking to invest in real estate.

Missouri Housing Affordability Shines Bright at $300K!

Exciting news for all the home seekers out there! Missouri has officially landed itself a spot in the top 15 when it comes to housing affordability. This fantastic revelation comes straight from a recent report, and it reveals that with a budget of just $300,000, homebuyers can snag a delightful 1,704-square-foot home in the Show-Me State. Talk about a sweet deal!

A Quick Peek at the Numbers

So, what’s the secret sauce behind Missouri’s impressive ranking? It mainly boils down to the cost-of-living index, which sits at a comfy 78.6. That’s a solid indicator that your dollar can stretch a little further in Missouri compared to other states. With a median listing price of $176 per square foot, buying a home in Missouri is as friendly on the wallet as it is spacious!

But wait, there’s more! If you’re feeling adventurous and want to increase your budget to $400,000, you can score yourself a sprawling 2,272-square-foot abode, perfect for families or those who simply love to entertain. And for the high rollers, a budget of $500,000 can net you an expansive 2,840-square-foot haven.

Where You Live Matters

Now, it’s essential to keep in mind that home prices and available square footage can shift quite a bit depending on where you decide to plant your roots in Missouri. For instance, if you set your sights on Kansas City, there are some pretty exciting listings! A three-bedroom, two-bathroom house currently listed for $300,000 offers up a generous 2,057 square feet. That’s the kind of space dreams are made of!

If you’re leaning towards spending between $300,000 and $400,000, Zillow shows there are around 109 single-family homes available, with many potentially offering more square footage than mentioned in the report. The options only get better as you move up to the next price bracket, with 138 listings available for homes priced between $400,000 and $500,000. Intrigued? You should be!

A Glance at the Competition

$300,000, homebuyers there can cozy up in at least 2,000 square feet at a mere cost of $137 per square foot! Kansas and Alabama follow closely behind, proving that affordability doesn’t just belong to Missouri.

On the flip side, we have Hawaii, where a budget of $300,000 will only buy you a tiny 443 square feet to call your own. The median listing price is a staggering $678 per square foot there! Massachusetts and California aren’t far behind, sporting sky-high prices of $506 and $468 per square foot, respectively.

Growing Home Values Across the Nation

January 2025, the typical home value across the United States hit $356,776, reflecting a 2.6% increase year-over-year. This trend adds even more interest to Missouri’s housing market as you consider options.