While this isn’t the first time Missouri’s capital, Jefferson City, has ranked highly as place to make roots, it’s a more recent indicator that our local housing market is more attractive than most. The Wall Street Journal/Realtor.com Emerging Housing Markets Index looked at 300 metropolitan areas to determine where lower cost of living, thriving local economies with lower populations were geographically situated.
The index sought to identify where home purchasers, with a goal of either living in it themselves or renting to others, should focus their attention.
Here’s who made the top 10*:
*Data sourced from realtor.com/WSJ
Homebuying Attractiveness Indicators: Low Home Prices, Low Unemployment and Low Population
Preceded only by Santa Barbara, California, Jefferson City ranked #2 on the list of metro areas best suited for buying a home. Measured as of December 2023, with a median home price of $302,000 and an unemployment rate of 2.7%, Jefferson City outranked other cities for homebuyers in the Midwest states of Ohio and Wisconsin. The city’s thriving economy keeps home prices affordable and offers a solid job market for those looking to relocate here.
Also notable, of all metro areas listed in the top ten, Missouri’s capital city enjoys one of the lowest populations. Fewer residents means less crowding, easier commutes, and more opportunity for growth.
The article calls out that, “The markets that have continued to chug along, and even gain steam, are either priced low enough that buyers can compete, or priced high enough that the typical affordability constraints are not of concern to the market’s buyers.” Jefferson City is certainly one of those markets that has gained steam, having climbed 10 spots from the prior season’s index, measured just four months prior.
Jefferson City Remains Hot for Homebuying
In Realtor.com’s, “Hottest Zip Codes of 2024,” Jefferson City’s 65109 zip code lands at the 28th spot. As of August of 2024, homes in 65109 stay on the market for an average of just 26 days, thanks to high demand and tight inventory.
What makes Missouri’s capital city so hot? Besides the lower cost of living, the city out-performs many mid-sized metros in terms of amenities, or “everyday-splurge” establishments like specialty stores and coffee shops. Here, as with other top-ranking locations, buyers can enjoy the benefits of living in larger cities, without sacrificing a smaller-town feel.
Conclusion
Whether you’re a long-term resident looking to make a move locally or an out-of-market buyer searching for an ideal place to land, Jefferson City serves as a top-ranking location for homebuying. If it’s less congestion, more opportunity or a welcoming community that drives you to make the move, you’ll find it here.
Read both articles here: Winter 2024 WSJ/Realtor.com Emerging Housing Markets Index and https://www.realtor.com/research/hottest-zip-codes-2024/
