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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Cape Girardeau, MO Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q4 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Cape Girardeau, MO Housing Market Trends

With a population of 40,377, 15,865 total housing units (homes and apartments), and a median house value of $227,450, house prices in Cape Girardeau are solidly below the national average.

Single-family detached homes are the single most common housing type in Cape Girardeau, accounting for 62.84% of the city's housing units. Other types of housing that are prevalent in Cape Girardeau include large apartment complexes or high rise apartments ( 20.80%), duplexes, homes converted to apartments or other small apartment buildings ( 11.62%), and a few row houses and other attached homes ( 2.96%).

The most prevalent building size and type in Cape Girardeau are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 49.60% owning and 50.40% renting.

There is a lot of housing in Cape Girardeau built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Cape Girardeau built between 1940-1969 ( 28.76%). A lesser amount of the housing stock also hails from between 2000 and later ( 14.09%). There's also some housing in Cape Girardeau built before 1939 ( 13.02%).

Vacant housing appears to be an issue in Cape Girardeau. Fully 13.23% of the housing stock is classified as vacant. Left unchecked, vacant Cape Girardeau homes and apartments can be a drag on the real estate market, holding Cape Girardeau real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Cape Girardeau Home Appreciation Rates

Some of the lowest real estate appreciation rates in America over the last ten years have been in Cape Girardeau, where house values have increased just 46.79%, which is annualized rate of 3.91%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.

Over the last year, Cape Girardeau appreciation rates have trailed the rest of the nation. In the last twelve months, Cape Girardeau's appreciation rate has been 1.00%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Cape Girardeau were at -0.26%, which equates to an annual appreciation rate of -1.05%.

Relative to Missouri, our data show that Cape Girardeau's latest annual appreciation rate is lower than 90% 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 Cape Girardeau differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Cape Girardeau - 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 2000, to assist you in making the best Cape Girardeau real estate investment or home purchase decisions.

Average Home Values

Median Home Value

$227,450

Cape Girardeau, MO Home Prices
> $1,234,000
$926,001 - $1,234,000
$617,001 - $926,000
$494,001 - $617,000
$370,001 - $494,000
$247,001 - $370,000
$124,001 - $247,000
$62,001 - $124,000
$0 - $62,000
0.4%
0.4%
1.1%
1.1%
2.5%
2.5%
4.1%
4.1%
9.9%
9.9%
17.0%
17.0%
46.1%
46.1%
13.5%
13.5%
5.4%
5.4%
0% 100.0%
% of Homes
Average

for Missouri

Average

for nation

Number of Homes And Apartments:

15,865

Cape Girardeau Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,239 / per month

Homeownership Rate

Owners
Renters
49.6%
49.6%
50.4%
50.4%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
13.2%
13.2%
86.8%
86.8%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
14.1%
14.1%
44.1%
44.1%
28.8%
28.8%
13.0%
13.0%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
62.8%
62.8%
3.0%
3.0%
11.6%
11.6%
20.8%
20.8%
1.8%
1.8%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
2.3%
2.3%
12.8%
12.8%
30.6%
30.6%
34.1%
34.1%
15.8%
15.8%
4.4%
4.4%
0% 100.0%
% of Homes