Springfield, one of the cities in Missouri with the most expensive homes

Buying a home is one of the biggest investments you can make, not only for having your own place but also for owning an asset that can significantly increase in value over time. However, with property prices currently reaching their all-time highs, and with the growing fear of falling into foreclosure due to high interest rates, many potential buyers are delaying their investment and the dream of owning a property in the state of Missouri.

To take a look at one of the recent months, the average home value in the United States was $360,999, marking a 2.4% increase compared to the previous year. As for mortgage rates, they are also raising monthly costs, as the 30-year fixed mortgage rate is currently at 6.44%.

We know that home prices have risen across the country, just as mortgage rates remain high due to inflation. But there are certain cities that demand a much higher price than others due to factors that play an important role in determining a home’s value, such as size, location, condition, and age.

Stacker, a major outlet, using data from Zillow, compiled a list of cities with the most expensive homes in the state of Missouri. These cities are ranked according to the Zillow Home Values Index for all homes as of September 2024. It was found that the metropolitan areas with the most cities among the 30 most expensive in Missouri are St. Louis, Kansas City, and Springfield in third place.

Available Foreclosures:

St. Louis: 15 homes available.

Kansas City: 8 homes available.

Springfield: 2 homes available.

By Elías DaSilva | 30 de octubre de 2024