St. Joseph appreciation rates and housing market information

St. Joseph housing market information

With 73,829 people, 31,707 houses or apartments, and a median cost of homes of $109,136, house prices in St. Joseph are solidly below the national average.

single-family detached homes are the single most common housing type in St. Joseph, accounting for 70.25% of the city's housing units. Other types of housing that are prevalent in St. Joseph include large apartment complexes or high rise apartments (11.81%), duplexes, homes converted to apartments, or other small apartment buildings (11.55%), mobile homes or trailers (3.32%), and a few row houses and other attached homes (3.05%).

People in St. Joseph primarily live in small (one, two, or no bedroom) single-family detached homes. St. Joseph has a mixture of owner-occupied and renter-occupied housing.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. St. Joseph's housing was primarily built during this period, from the '40s through the '60s. A full 36.46% of the city's housing hails from this era. Other housing ages represented in St. Joseph include homes built between 1939 and earlier (35.06%), and housing constructed from 1970-1994 (24.18%). There's also some housing in St. Joseph built between 1995 and later (4.30%).

St. Joseph home appreciation rates

Real estate appreciation rates in St. Joseph have tracked to near the national average over the last ten years, with the annual appreciation rate averaging 6.87% during the period.

Appreciation rates are so strong in St. Joseph that despite a nationwide downturn in the housing market, St. Joseph real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, St. Joseph appreciation rates continue to be some of the highest in America, at 3.69%, which is higher than appreciation rates in 81% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in St. Joseph. St. Joseph appreciation rates in the latest quarter were at 3.10%, which equates to an annual appreciation rate of 12.40%.

Importantly, this makes St. Joseph one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.

Relative to Missouri, our data show that St. Joseph's latest annual appreciation rate is higher than 51% of the other cities and towns in Missouri.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within St. Joseph differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in St. Joseph - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 1990, to assist you in making the best St. Joseph real estate investment or home purchase decisions.