St. Joseph, MO
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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St. Joseph, MO Real Estate Data


St. Joseph Housing Market Information

With a population of 76,596, 28,825 total housing units (homes and apartments), and a median house value of $118,125, 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 70.41% of the city's housing units. Other types of housing that are prevalent in St. Joseph include large apartment complexes or high rise apartments ( 14.04%), duplexes, homes converted to apartments or other small apartment buildings ( 9.04%), and a few row houses and other attached homes ( 3.61%).

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.

The housing in St. Joseph was primarily built before 1939 ( 32.01%), making the housing stock in St. Joseph some of the oldest overall in America, although there is a range of ages of homes in St. Joseph. The next most important housing age is between 1940-1969 ( 31.20%), followed by between 1970-1999 ( 29.17%). There's also some housing in St. Joseph built between 2000 and later ( 7.62%).

Vacant housing appears to be an issue in St. Joseph. Fully 13.40% of the housing stock is classified as vacant. Left unchecked, vacant St. Joseph homes and apartments can be a drag on the real estate market, holding St. Joseph 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.

St. Joseph Home Appreciation Rates

Real estate appreciation rates in St. Joseph's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 0.05% during the period.

Over the last year, St. Joseph appreciation rates have trailed the rest of the nation. In the last twelve months, St. Joseph's appreciation rate has been 3.44%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in St. Joseph were at 4.46%, which equates to an annual appreciation rate of 19.05%.

Importantly, NeighborhoodScout’s exclusive research found that St. Joseph's housing market shows one of the <a href="/blog/highest-appreciating-cities">top real estate appreciation rates in the U.S.A.</a> in the latest quarter, which 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 lower than 80% 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 2000, to assist you in making the best St. Joseph real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$118,125

St. Joseph, MO HOME PRICES

Value Range
> $1,068,000 0.4
$801,001 - $1,068,000 0.2
$534,001 - $801,000 0.8
$427,001 - $534,000 1.3
$321,001 - $427,000 2.1
$214,001 - $321,000 8.1
$107,001 - $214,000 35.5
$53,001 - $107,000 35.6
$0 - $53,000 15.8

Average for MO
Low for Nation

Value Relative to Nation Value Relative to State
67.4591555893892 51.4

Number Of Homes And Apartments:
28,825

Rent & Ownership

 

Average Market Rent:
$826 / per month

Homeownership Rate

Homeownership
Owners 56.91
Renters 43.09
Vacant 13.40

Housing Market Details

 

Age of Homes

AGE OF St. Joseph HOMES
2000 or Newer 7.6
1970 - 1999 29.2
1940 - 1969 31.2
1939 or Older 32.0

Types of Homes

TYPE OF St. Joseph HOMES
Single-Family 70.4
Townhomes 3.6
Small Apt. Buildings 9.0
Apt. Complexes 14.0
Mobile Homes 2.9
Other 0.0

Home Size

SIZE OF St. Joseph HOMES
No Bedroom 1.84
1 Bedroom 11.29
2 Bedrooms 36.01
3 Bedrooms 35.36
4 Bedrooms 12.21
5 or more bedrooms 3.29

St. Joseph Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MO*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
21.86% 1.17% 2 2
* 10 is highest