There’s a the age old question everyone thinks about when they decide to move to a city in Missouri:
Should I buy a place or rent?
Well, we aren’t here today to solve that problem for you exactly. We are just assuming you’ll do the right thing and a buy a place 😉
And while we are happy to tell you the best place to live in Missouri, this analysis is going to tackle the question of the best place to buy a house as an investor. That is we are going to try and determine the up and coming cities in the Show Me State.
To do that we are going to look at places in Missouri that are growing faster than average, but where home prices are below average. In every day terms, the “deals”.
The best deal in Missouri at the moment? That would be Marshfield according to our analysis.
Here’s a look at the top ten places to buy a home in Missouri for 2019:
- Marshfield (Photos | Homes For Sale)
- Clinton (Photos | Homes For Sale)
- Webb City (Photos | Homes For Sale)
- Greenwood (Homes For Sale)
- Bonne Terre (Homes For Sale)
- Carl Junction (Homes For Sale)
- Grain Valley (Homes For Sale)
- Nixa (Homes For Sale)
- Carthage (Photos | Homes For Sale)
- Kearney (Photos | Homes For Sale)
The methodology that wen’t into this can be a bit complicated, so we’ll break it down for you in as much detail as we can below.
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- These Are The 10 Best Counties To Live In Missouri
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- These Are The 10 Best Places To Retire In Missouri
How do you determine the best places to buy a home in Missouri for 2019?
We were in real estate for almost five years and have been working on this site for another three. Suffice is to say, we’ve put a lot of thought into what goes into finding a good place to buy a home.
So all that thinking has come to this moment where we get to spell out how we’d approach finding an up-and-coming place to live in Missouri. Put differently, the analysis will try to find places in Missouri with undervalued homes relative to pent up demand.
To do that we looked at the most recent American Community Survey Census data for 2013-2017 and compared it to the previous vintage (2012-2016). Specifically, we used the following criteria:
- Y-o-Y Change In Population (People want to live here)
- Y-o-Y Change In Median Home Prices (People are willing to pay for it)
- Home Prices Relative To The State Average (It’s still kinda cheap)
We want places that are growing, have seen home prices increase in recent years, and are still “cheap” for Missouri with the following caveats:
- Home prices had to be within 20% of the state average (Much lower than that and you get to some of the more dangerous places)
- Home prices increased in the last year, and
- Above 5,000 people (Bigger cities have more data points)
So of the 1,019 cities and towns in Missouri, only 129 places made it through our initial filters to even be considered.
We then ranked each place from 1 to 129 for the criteria mentioned above with 1 being the best for that criteria. We averaged the rankings to create a “best place to buy” index with the place having the lowest index being the best.
Turns out that Marshfield is the best potential gem in the not-so-rough in the Show Me State.
Read on for more on these places.
Marshfield was platted in 1855, taking its name from Marshfield, Massachusetts. A post office called Marshfield has been in operation since 1856.
Clinton was laid out in 1836. The city was named for New York Governor DeWitt Clinton, a key promoter of the Erie Canal. A post office called Clinton has been in operation since 1850.
Webb City,, was platted by John C. Webb in September, 1875 and incorporated in December, 1876, with a population of 700. The city was located on a portion of Webb’s 200 acre farm, which he entered in February, 1857. There, in 1873, Webb discovered lead while plowing. With the assistance of W.A. Daugherty, he sank the first pump-shaft in 1874. Webb then leased his land to Daugherty and G.P. Ashcraft. In 1876 the Center Creek Mining Company leased the land and began operations. Some 20 years later 700 mines were located within the limits of Webb City and adjacent Carterville and the district ranked first in the production of zinc ore.
Greenwood was laid out in 1867. A post office called Greenwood has been in operation since 1866. The city was incorporated in 1963.
The community was originally settled by the French in 1720 after lead ore was discovered. It was called La Bonne Terre, “the good soil.” Bonne Terre was platted as a town in 1880.
Carl Junction was laid out near a railroad junction by Charles Carl, who gave the town his last name. A post office called Carl Junction has been in operation since 1878.
Grain Valley was founded in the 1870s. The city was named for the general character of the grain-producing region.
The area was first settled by farmers who located their farms along the wooded streams near present-day Nixa. The area became a crossroads, as it was a half-day ride with a team of horses from Springfield. Teamsters found it a convenient stopover site when hauling freight between Springfield and Arkansas. The village became known as Faughts. An early resident, Nicholas A. Inman, was a blacksmith from Tennessee, who set up a shop in 1852. When a post office was opened, a town meeting was held to decide on a name for the new community. Because of his years of service to the community, the town was suggested to be named for him. Another suggestion was “nix” because the community was “nothing but a crossroads”. The name Nix was finally decided upon, and Inman’s middle initial “a” was added to get the unique name of Nixa. The village incorporated on June 10, 1902.
Jasper County was formed in 1841. Carthage was chosen as the county seat, the area cleared and the town platted in 1842. The city was named after ancient Carthage. By the time of the American Civil War, there were over 500 residents, a brick and stone courthouse, and several businesses.
Kearney was unofficially founded in the spring of 1856 by David T. Duncan and W. R. Cave, and was originally called Centerville. Centerville was composed of what is now the southeastern portion of the town. In 1867, John Lawrence began laying out plans for another small settlement around the newly established Kansas City and Cameron Railroad subsidiary of the Hannibal and Saint Joseph Railroad which was to build the Hannibal Bridge establishing Kansas City, Missouri as the dominant city in the region. The president of the railroad was Charles E. Kearney. The railroad still operates as the Burlington Northern and Santa Fe Railway. As they grew, the two settlements of Centerville and Kearney were effectively merged, and the town of Kearney, Missouri was officially incorporated in 1869.
There You Have It – The Best Places To Purchase A House In Missouri for 2019
There’s our analysis of the best places to buy a house in Missouri. And, to be clear, we aren’t necessarily saying these places are the best places to live, just that it looks like they might be in a couple of years based on the data.
In fact, every place in the following table meets our criteria, so even though it may not look super long, remember we started off with all 0 places in the state.
So if we’d could rent or buy in these cities, we’d definitely buy.
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