Rent vs Buy in Missouri
Compare 13 cities across Missouri. Find out whether renting or buying makes more financial sense in your area.
13cities analyzed
Avg Home:$214,615
Avg Rent:$1,242/mo
Avg Price/Rent:14.5
Missouri Housing Market Summary
13
Cities Analyzed
11
Favor Buying
0
Favor Renting
2
Toss-Up
Across Missouri's 13 analyzed cities, the majority (11 cities) favor buying over renting. This suggests Missouri generally offers good value for homebuyers.
The average home price in Missouri is $214,615, with average rents at $1,242/month. This gives an average price-to-rent ratio of 14.5.
$Most Affordable Cities
$$Most Expensive Cities
All Missouri Cities
Sorted by population. Click any city for detailed analysis.
| City | Median Price | Median Rent | Price/Rent | Break-even | Verdict |
|---|---|---|---|---|---|
| Kansas City | $285,000 | $1,250 | 19.0 | 8 yrs | Toss-up |
| St. Louis | $225,000 | $1,250 | 15.0 | 4 yrs | Buy |
| Springfield | $210,000 | $1,300 | 13.5 | 4 yrs | Buy |
| Columbia | $245,000 | $1,100 | 18.6 | 7 yrs | Toss-up |
| Independence | $220,000 | $1,450 | 12.6 | 5 yrs | Buy |
| Lee's Summit | $245,000 | $1,250 | 16.3 | 4 yrs | Buy |
| O'Fallon | $195,000 | $1,250 | 13.0 | 3 yrs | Buy |
| St. Joseph | $200,000 | $1,050 | 15.9 | 5 yrs | Buy |
| St. Charles | $180,000 | $1,300 | 11.5 | 6 yrs | Buy |
| Blue Springs | $210,000 | $1,300 | 13.5 | 6 yrs | Buy |
| Joplin | $180,000 | $1,350 | 11.1 | 4 yrs | Buy |
| Florissant | $200,000 | $1,200 | 13.9 | 5 yrs | Buy |
| Cape Girardeau | $195,000 | $1,100 | 14.8 | 5 yrs | Buy |
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These are general analyses based on median values. Use our comprehensive Buy vs Rent calculator to input your specific income, savings, and financial goals.
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