Missouri is known as the Gateway to the West, and it’s easy to see why. With more neighboring states than any other besides Tennessee, it’s centrally located and easy to get around.
And with half of Missouri residents living in the up-and-coming urban areas of Kansas City and St. Louis, there’s plenty to see and do. Whether visiting the Gateway Arch, attending a Chiefs, Cardinals or Royals game, enjoying some great barbecue, or hiking in the Ozarks–Missouri should not be overlooked and is a great place to invest in rental property. Here are some of the best places to buy in the state.
Investment Property in Missouri
- Jefferson City. Jefferson City, Missouri’s capital, boasts numerous historical sites and landmarks. The city offers stunning views of the Missouri River and boasts unique architecture—two reasons why it was chosen as one of America’s Most Beautiful Small Towns! Jefferson is a great city to explore by bike, with plenty of shops, trails, and local restaurants to enjoy. It’s also a hidden gem regarding employment opportunities, as it’s the state capital and home to many state government employees.
- Joplin. Joplin is located in the Four States region of southwest Missouri, where it intersects with historic Route 66. The city has developed a great downtown, booming culture, affordable living, and a reputation for being a fun place to visit. Joplin is home to Langston Hughes and was also where Bonnie and Clyde hid. With a 12.4 percent increase in home values and a sale price of $180k, JoMo is clearly a desirable area for property investors.
- Independence. Independence is a city located in Missouri with a population of over 117,000 people. The city is famously known as the home of President Harry S. Truman and has over 40 parks. Independence has a unique place in history for pioneers, the Oregon Trail, and its historic Independence Square. The city’s great modern culture is perfect for families, young adults, and retired folks. With the median home sale price being only around $140k, this city is a great location. It was the starting point for California, Oregon, and Santa Fe Trails, making it an excellent place for property investors.
- Kansas City. Kansas City, located in both Kansas and Missouri, is a popular tourist destination. Tourism sustains over 58,000 jobs in the city and generates $1.8 billion in wages. Kansas City is a great place to live, with plenty of things to do for both visitors and residents. You can enjoy some delicious KC barbecue, a Chiefs or Royals game, or visit one of the many museums and art galleries. This city is booming, with a population and employment growth rate attracting new residents. The median sale price for a home is around $190,000, and values have increased by 11.5 percent in the last year.
Your Team of Experts at McGowan Mortgages
Missouri is a great place to invest in a rental property—it’s centrally located, with bustling urban centers and plenty of scenic outdoor activities. The average rental prices are low, the cities have a booming economy, and the residents are happy. So, if you’re looking for a great place to invest in rental property, look no further than Missouri.
McGowan Mortgages are your home loan experts dedicated to making sure your home purchase or refinance experience is top-notch. We have helped thousands of families in Kansas City and throughout Missouri to make their dreams come true. We can’t wait to do the same for you! If you’re a first-time homebuyer in Kansas City, we would love to help you find the right property so call us today at (816) 631-9687.
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