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St. Louis real estate market overview
- Average Monthly Rent: $1,151
- Home Price/Value Percentage Change: 6.20%
- Median Home Value: $155,721
- Best Time To Sell a Home: May
- Affordability Index: Moderate
- Days To Sell a House: 22
- Job Market: Weak
- Public School Ranking: 35
Location and weather
St. Louis, home to the famous Gateway Arch, is located near the center of the United States. and lies on the west bank of the Mississippi River. It is the largest and most populated metropolitan area in Missouri with a 66 square mile city area and many suburban towns surrounding it. Originally a fur-trading post site founded by French explorers, the rivers allowed St. Louis to become an important river port and major transportation hub.
St. Louis has a warm season from early May through September with an average high temperature in the 80's and low temperature in the mid 60's. From late November through March it is cold with the daily high temperatures in the 50's. The evening low temperatures then are in the 20's.
Population, job market and cost of living
St. Louis' population in 2023 is 296,262 with a growth rate of -0.59%.
The job market has decreased by -4.86% over last year. The major companies in St. Louis includes Emerson, Enterprise Holdings, CCO Holdings LLC, Panera Bread and Ascension Michigan.
The cost of living is low due to the St. Louis real estate market with affordable housing. As a major transportation hub and second largest inland port in the country, revitalized down-town area, cultural opportunities through its universities and museums, steady job growth and growing businesses, St Louis will continue to be a sought-after place to live and work.
St. Louis real estate market details
- Central West End
- Bevo Mill
- Dutchtown
- Tiffany
- Forest Park Southeast
The average monthly rent in St. Louis is $1,151 for an average apartment size of 837 sq. feet.
There has been a 6.2% increase in median home value over the last year. As of 2023, the median home value is $155,721.
On average, homes in St. Louis sell after 22 days on the market.
The best time to sell a home for the highest valued sale is during May. For the quickest sale, homeowners should sell in August.
The affordability index in St. Louis is 83. This number indicates moderate affordability in this city.
The top ranked public schools are Mallinckrodt A.b.i. Elementary School, Kennard Classical Junior Academy, Collegiate School of Med/Bio, Mckinley Class Leadership Academy and Metro High School. This information is based on data measuring academic performance and equity.