Current home values in Missouri

Home values have been rising throughout Missouri and are up 1.5% from a year ago.

Statewide, the median value for a single-family home — meaning half are worth more, half are worth less — is currently $286,340, Realtor says.

Real estate agents say would-be homebuyers in some parts of the country are starting to overcome the obstacles caused by COVID-19 and are going virtual house hunting to take advantage of today's bargain mortgage rates and the low monthly house payments they provide.

Here's how that works in Missouri: Let's say you want to buy a mid-priced home using a 30-year fixed-rate mortgage at the current average interest, which is a low 3.33%, according to mortgage company Freddie Mac.

A 30-year mortgage for a $286,340 home at 3.33% would give a typical Missouri homebuyer a monthly payment of $1,007, assuming a 20% down payment.

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How the Missouri housing market stacks up

Older couple walking by the water
Lana G / Shutterstock
Older couples can enjoy walking outdoors, while still being close to downtown

The state's median home value is higher than the U.S. median of $248,948, which is up 5.1% from a year ago.

While the coronavirus is expected to continue hanging over the U.S. economy like a dark cloud, Zillow forecasts that U.S. home values will rise 5.1% over the next year, while in Missouri, they're predicted to rise 4.1%.

Homes right now are going on the market in Missouri at a median price of $109 per square foot, versus $134 per square foot nationwide.

Are you looking to buy? Take a look at today's best mortgage rates where you live.

Missouri home prices over the last 10 years

Year Avg. Price
2020* $165,115
2019 $162,663
2018 $154,525
2017 $143,775
2016 $136,392
2015 $130,067
2014 $126,175
2013 $123,658
2012 $121,500
2011 $123,983
2010 $128,883
2009 $132,242

*2020 price average through March 31, 2020.

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How much for an average-sized home?

Here's what a 2,500-square-foot home in Missouri is worth now, and how that's changed over the last decade, based on the Zillow Home Value Index.

Year Avg. Price
2020* $273,323
2019 $285,000
2018 $272,500
2017 $252,500
2016 $240,000
2015 $227,500
2014 $220,000
2013 $215,000
2012 $210,000
2011 $215,000
2010 $227,500
2009 $230,000

*2020 price average through March 31, 2020.

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