Serving individuals and businesses |
314-527-3224

The housing market outlook of st. louis and surrounding areas

For some cities on the map, growth has taken on an entirely new meaning. Cities such as St. Louis are hubs for start-ups, gourmet eateries and other creative niches, so it is easy to see why countless tourists and residents alike flock to the Gateway to the West. Upon closer look, what does the housing market look like for this popular city and surrounding areas? 

The U.S. Department of Housing and Urban Development recount a successful past few years in the housing market for St. Louis, noting that although job growth in the city has been slow, the economic conditions remain positive. As of October 2015, St. Louis had an owner vacancy rate of roughly 2.5 percent -- a drop from 4.8 percent in 2010. As for the submarket, the homeownership rate was 41.8 percent, and the number of sold homes (both new and existing) saw an increase when compared with previous years. The HUD Department noted an expected minimal housing demand between 2015 and 2018. 

The HUD estimates may reflect a slow growth rate in the area, but meanwhile, The Kansas City Star reports significant growth in single-family housing in communities surrounding St. Louis. After its population boom from 1986 to 2006, Lee's Summit has finally showed signs of recovery from the housing crisis a decade ago. The area saw 391 housing permits in 2017 alone -- not to mention the additional few hundred new-unit permits issued that year. The Star shared that last year was Lee's Summit's fourth straight year of growth. While the outlook of some areas in Missouri are are seeing an average growth, others show a particularly exciting future in the housing market world. 

No Comments

Leave a comment
Comment Information
Email Us For A Response

Contact The Firm

Contact the Firm

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

Office Locations

St Louis Office
4509 Lemay Ferry Road
St Louis, MO 63129

Phone: 314-527-3224
Fax: 888-288-9341
St Louis Law Office Map

Chesterfield Office
16091 Swingley Ridge
Suite 220
Chesterfield, MO 63017

Phone: 314-527-3224
Map & Directions