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:$255,627
Avg Rent:$1,325/mo
Avg Price/Rent:16.2
Missouri Housing Market Summary
13
Cities Analyzed
0
Favor Buying
12
Favor Renting
1
Toss-Up
Across Missouri's 13 analyzed cities, the majority (12 cities) favor renting over buying. High home prices relative to rents make renting more financially attractive in much of Missouri.
The average home price in Missouri is $255,627, with average rents at $1,325/month. This gives an average price-to-rent ratio of 16.2.
$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 | $237,642.27 | $1,381.85 | 14.3 | N/A | Rent |
| St. Louis | $175,440.91 | $1,284.48 | 11.4 | N/A | Rent |
| Springfield | $248,367.11 | $1,254.09 | 16.5 | N/A | Rent |
| Columbia | $318,842.68 | $1,339.41 | 19.8 | N/A | Rent |
| Independence | $237,642.27 | $1,381.85 | 14.3 | N/A | Rent |
| Lee's Summit | $237,642.27 | $1,381.85 | 14.3 | N/A | Rent |
| O'Fallon | $360,670.01 | $1,699.79 | 17.7 | N/A | Rent |
| St. Joseph | $182,874.79 | $882.6 | 17.3 | 7 yrs | Toss-up |
| St. Charles | $360,670.01 | $1,699.79 | 17.7 | N/A | Rent |
| Blue Springs | $237,642.27 | $1,381.85 | 14.3 | N/A | Rent |
| Joplin | $213,707.7 | $1,176.83 | 15.1 | N/A | Rent |
| Florissant | $275,128.24 | $1,454.89 | 15.8 | N/A | Rent |
| Cape Girardeau | $236,877.16 | $908.42 | 21.7 | N/A | Rent |
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