Even though housing prices in the metro area are still affordable, more residents rent than own in St. Louis. In fact, one of the neighborhoods featured in this report is almost entirely occupied by renters.
St. Louis has a shortage of homes, which is why it might be the perfect place to invest in rental property. Located along the banks of the Mississippi River, St. Louis has a growing high-tech economy, anchored by blue-chip companies like Anheuser-Busch and Boeing.
We recently looked at neighborhoods in and around St. Louis in which you can find great investment properties and compiled them here.
Key takeaways
- St. Louis is home to over 300,000 people in the city and more than 2.8 million in the metropolitan area.
- There are dozens of St. Louis neighborhoods in which to consider buying investment property.
- Neighborhoods like Downtown and Kings Oak consist of more than 80% renter-occupied households.
>>Explore Roofstock's St. Louis investment properties.
Why invest in St. Louis?
Although population growth in St. Louis has slowed over the past 10 years, the area is still a hot spot.
About 54% of the housing units in metropolitan St. Louis are occupied by renters, even though home prices are still relatively affordable. The value of a middle-price-tier home in St. Louis is just $166,529, and values have increased by more than 13% year over year, according to Zillow (as of Jan. 31, 2022).
15 great areas in St. Louis for investment properties
There are dozens of neighborhoods in metropolitan St. Louis in which to consider buying investment property. We recently reviewed data from Redfin, Niche.com, and Realtor.com to make finding a rental property to purchase in St. Louis a little bit easier.
Soulard
The Soulard neighborhood in St. Louis is located just south of Downtown, near Lafayette Square. Soulard has a mixed urban-suburban feel, with more renters than homeowners:
- Population: 4,738
- Median sale price: $272,000
- Change in sales price (year over year): -7.0%
- Days on market: 38
- Median rent: $957
- Renter-occupied households: 67%
- Median household income: $63,659
- ZIP code: 63104
Tower Grove South
Bordered by Tower Grove Park to the north and the Bevo neighborhood to the south, the Tower Grove South neighborhood in St. Louis is another area popular with renters. The neighborhood has a dense suburban feel:
- Population: 14,042
- Median sale price: $256,000
- Change in sales price (year over year): 17.9%
- Days on market: 28
- Median rent: $830
- Renter-occupied households: 55%
- Median household income: $52,481
- ZIP code: 63116
Shaw Historic District
The Shaw Historic District is located on the other side of Tower Grove Park, adjacent to the Missouri Botanical Gardens. Niche.com ranks the neighborhood as the second best in St. Louis:
- Population: 6,771
- Median sale price: $280,000
- Change in sales price (year over year): -5.1%
- Days on market: 38
- Median rent: $880
- Renter-occupied households: 48%
- Median household income: $72,869
- ZIP code: 63110
Lafayette Square
Located south of Downtown, Lafayette Square is popular with renters. The area has a mixed urban-suburban feel:
- Population: 6,646
- Median sale price: $327,500
- Change in sales price (year over year): -17.3%
- Days on market: 35
- Median rent: $935
- Renter-occupied households: 68%
- Median household income: $57,194
- ZIP code: 63104
Central West End
The Central West End neighborhood is just west of Saint Louis University and borders the eastern side of Forest Park, where the St. Louis Zoo is located. The neighborhood has an urban feel and more renters than homeowners:
- Population: 19,049
- Median sale price: $387,500
- Change in sales price (year over year): 21.0%
- Days on market: 61
- Median rent: $956
- Renter-occupied households: 70%
- Median household income: $53,829
- ZIP codes: 63108, 63110
Kings Oak
The Kings Oak neighborhood is located near the southeast corner of Forest Park, near St. Louis Community College. Niche.com ranks Kings Oak as one of the best neighborhoods in St. Louis. It has an urban feel and more renters than homeowners:
- Population: 1,008
- Median sale price: $198,000
- Change in sales price (year over year): 0.0%
- Days on market: 5
- Median rent: $1,545
- Renter-occupied households: 96%
- Median household income: $78,750
- ZIP code: 63110
Downtown
Downtown St. Louis is bordered by the Mississippi River on the east, where the Gateway Arch is located, and is home to Busch Stadium and the central business district:
- Population: 6,134
- Median sale price: $135,000
- Change in sales price (year over year): -10.0%
- Days on market: 63
- Median rent: $1,040
- Renter-occupied households: 83%
- Median household income: $57,070
- ZIP codes: 63101, 63102
McRee Town
McRee Town is a tiny neighborhood only a few blocks long, and it’s another popular area for renting. Located between Forest Park and Tower Grove Park, McRee Town is ranked as one of the best neighborhoods in St. Louis by Niche.com, and it boasts a dense suburban feel:
- Population: 2,761
- Median sale price: $266,500
- Change in sales price (year over year): 15.9%
- Days on market: 60
- Median rent: $837
- Renter-occupied households: 67%
- Median household income: $51,449
- ZIP code: 63110
Benton Park Historic
The Benton Park Historic neighborhood is located next to Soulard, on the other side of I-55:
- Population: 5,998
- Median home value: $305,425
- Change in sales price (year over year): 12.1%
- Days on market: 9
- Median rent: $1,006
- Renter-occupied households: 51%
- Median household income: $62,254
- ZIP codes: 63118
Debaliviere Place
The Debaliviere Place neighborhood in St. Louis is bordered by Forest Park on the south, where the zoo and art museum are located, and Skinker-Debaliviere on the west. Niche.com ranks Debaliviere Place as the third best neighborhood St. Louis by Niche.com and has more renters than homeowners:
- Population: 3,681
- Median sale price: $165,000
- Change in sales price (year over year): 19.3%
- Days on market: 61
- Median rent: $971
- Renter-occupied households: 69%
- Median household income: $57,102
- ZIP code: 63112
Skinker-Debaliviere Historic District
Located adjacent to the northwest corner of Forest Park, the Skinker-Debaliviere Historic District has an urban feel and a large percentage of renters:
- Population: 5,833
- Median sale price: $235,000
- Change in sales price (year over year): -1.1%
- Days on market: 48
- Median rent: $1,131
- Renter-occupied households: 55%
- Median household income: $71,104
- ZIP code: 63112
Downtown West
Located between Downtown and Midtown, the Downtown West neighborhood is popular. Downtown West has an urban feel, receives high grades for nightlife, and is a neighborhood composed almost entirely of renters:
- Population: 7,293
- Median sale price: $130,000
- Change in sales price (year over year): -12.5%
- Days on market: 60
- Median rent: $972
- Renter-occupied households: 84%
- Median household income: $46,678
- ZIP codes: 63103, 63106
Compton Heights
The Compton Heights neighborhood is located a few blocks northeast of Tower Grove Park, and Niche.com ranks it as one of the best neighborhoods in St. Louis. Compton Heights has a mixed urban-suburban feel and receives high grades for nightlife:
- Population: 2,651
- Median sale price: $400,000
- Change in sales price (year over year): -4.5%
- Days on market: 48
- Median rent: $847
- Renter-occupied households: 43%
- Median household income: $66,834
- ZIP codes: 63104, 63118
Bevo Mill
Bevo Mill is one of the larger neighborhoods in St. Louis, located just a few minutes from Tower Grove Park. The area has a dense suburban feel:
- Population: 15,079
- Median sale price: $135,000
- Change in sales price (year over year): 4.2%
- Days on market: 14
- Median rent: $826
- Renter-occupied households: 42%
- Median household income: $40,562
- ZIP code: 63116
Carondelet
Carondelet is located along the shores of the Mississippi River, a little bit east of Bevo. The neighborhood has a dense suburban feel and more renters than homeowners:
- Population: 12,199
- Median sale price: $121,375
- Change in sales price (year over year): 13.0%
- Days on market: 19
- Median rent: $844
- Renter-occupied households: 62%
- Median household income: $32,735
- ZIP code: 63111
>>Explore Roofstock's St. Louis investment properties.
