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.

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.

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.

About the Author

Doug Whiteman

Doug Whiteman

Former Editor-in-Chief

Doug Whiteman was formerly the editor-in-chief of MoneyWise. He has been quoted by The Wall Street Journal, USA Today and and has been interviewed on Fox Business, CBS Radio and the syndicated TV show "First Business."

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