St. Louis is a tech hotspot at the heart of the burgeoning multi-million dollar St. Louis Tech Triangle, which is a major drawcard for employers and job seekers alike. All this activity creates a high demand for rentals in the area, making the city a promising place to look for profitable investment properties.
Yet, sound real estate investing decisions hinge on narrowing your choices down even further.
Pinpointing up-and-coming neighborhoods likely to benefit from growth is the first step toward success as a St. Louis landlord. Read on to find out where to start your search for profitable St. Louis investment properties.
Tower Grove South
Tower Grove South is a hotspot of diversity and innovation. It offers a desirable urban-suburban mix with many attractive conveniences located nearby.
The high quality of living in this neighborhood creates a demand among renters, and property prices average $225K, which is well below the national average. Low sales in the area indicate a preference for rental accommodation in this suburb.
Adjacent Tower Grove Park is one of only four U.S. parks listed as a National Historic Site, providing abundant opportunities for residents to enjoy outdoor recreation.
Downtown West
Downtown West boasts a very high renter-occupied rate due to its proximity to employment opportunities in the city center. It's a bustling hub of entertainment, shopping, and dining.
Average home prices are low, averaging around $131,000, making it possible to charge affordable rentals to attract more tenants. Good employment opportunities, many diversions, and reasonable prices make Downtown West one of the most profitable real estate hotspots in St. Louis.
Forest Park Southeast
Forest Park Southeast is an excellent place to take advantage of St. Louis's competitive housing market. The suburb is located close to Interstate 64, with a bustling commercial district along Manchester Avenue.
Washington University Medical Center and Cortex Innovation Community are also close by.
Property prices are higher in this sought-after area, averaging $424,000, making the area an attractive rental prospect for those who aren't ready to buy a home.
Shaw Historic District
This picturesque enclave is an excellent example of how progress can thrive without detracting from an area's historic attraction. Around 48% of homes in this area are renter-occupied, and home prices are in the region of $400,000.
Although you'll pay more to purchase a home in this suburb, the Shaw Historic District's aesthetic and cultural appeal means high demand and the ability to charge profitable rent prices.
Make the Most of Real Estate Investing in St. Louis
Studying real estate market trends is the best way to discover lucrative investment opportunities in St. Louis. A local property expert can help you make sense of this data and use it to your advantage.
PMI STL Metro can help you get on track with real estate investing and maximize your rental income using the latest technology.
We are locally based experts in every aspect of St. Louis property management. Our services extend from property investment advice to lease renewals.
Discover how we can help you make St. Louis property management manageable.
